Pennsylvania Capital Management Inc. ADV decreased its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 163,476 shares of the iPhone maker's stock after selling 1,623 shares during the period. Apple makes up 13.3% of Pennsylvania Capital Management Inc. ADV's portfolio, making the stock its biggest position. Pennsylvania Capital Management Inc. ADV's holdings in Apple were worth $36,313,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently bought and sold shares of AAPL. Norges Bank acquired a new position in shares of Apple in the 4th quarter worth approximately $46,868,648,000. GAMMA Investing LLC grew its stake in shares of Apple by 25,934.1% in the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker's stock worth $133,425,490,000 after purchasing an additional 59,835,676 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Apple by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock worth $349,532,608,000 after purchasing an additional 49,168,843 shares during the last quarter. Proficio Capital Partners LLC grew its stake in shares of Apple by 23,555.4% in the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock worth $5,272,653,000 after purchasing an additional 20,966,232 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.
Insiders Place Their Bets
In other news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the sale, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.06% of the company's stock.
Apple Stock Performance
Shares of Apple stock traded down $5.19 on Friday, reaching $202.38. The stock had a trading volume of 97,423,066 shares, compared to its average volume of 44,912,472. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The business's 50-day moving average price is $205.37 and its two-hundred day moving average price is $213.60. The stock has a market cap of $3.02 trillion, a P/E ratio of 30.71, a price-to-earnings-growth ratio of 2.22 and a beta of 1.17. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82.
Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. Apple had a return on equity of 172.48% and a net margin of 24.30%. The company's revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.40 EPS. On average, sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current year.
Apple announced that its Board of Directors has approved a stock buyback plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.
Apple Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Monday, August 11th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Monday, August 11th. Apple's payout ratio is presently 15.78%.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a research report on Friday. Rosenblatt Securities reissued a "neutral" rating and issued a $217.00 target price on shares of Apple in a research report on Tuesday, July 29th. TD Cowen dropped their target price on shares of Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Monness Crespi & Hardt lifted their target price on shares of Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Needham & Company LLC reissued a "hold" rating on shares of Apple in a research report on Friday, July 25th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $237.25.
Read Our Latest Report on AAPL
Apple Profile
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Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
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