Poinciana Advisors Group LLC Purchases Shares of 10,122 Apple Inc. (NASDAQ:AAPL)

Poinciana Advisors Group LLC purchased a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 10,122 shares of the iPhone maker's stock, valued at approximately $2,535,000. Apple makes up 2.6% of Poinciana Advisors Group LLC's holdings, making the stock its 10th largest holding.

A number of other institutional investors also recently modified their holdings of the stock. Valtinson Bruner Financial Planning LLC raised its stake in shares of Apple by 0.6% during the fourth quarter. Valtinson Bruner Financial Planning LLC now owns 15,426 shares of the iPhone maker's stock worth $3,863,000 after buying an additional 94 shares during the last quarter. Zevin Asset Management LLC increased its stake in Apple by 7.2% in the fourth quarter. Zevin Asset Management LLC now owns 156,388 shares of the iPhone maker's stock valued at $39,163,000 after purchasing an additional 10,552 shares in the last quarter. United Capital Management of KS Inc. increased its stake in Apple by 0.8% in the fourth quarter. United Capital Management of KS Inc. now owns 79,000 shares of the iPhone maker's stock valued at $19,783,000 after purchasing an additional 665 shares in the last quarter. HMV Wealth Advisors LLC bought a new stake in Apple in the fourth quarter valued at approximately $3,894,000. Finally, First National Trust Co increased its stake in Apple by 0.8% in the fourth quarter. First National Trust Co now owns 595,623 shares of the iPhone maker's stock valued at $149,156,000 after purchasing an additional 4,516 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AAPL shares. Argus upgraded shares of Apple to a "strong-buy" rating in a report on Friday, January 31st. Loop Capital cut their price target on shares of Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Morgan Stanley reiterated an "overweight" rating on shares of Apple in a research note on Monday, May 12th. China Renaissance started coverage on shares of Apple in a research note on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 price target for the company. Finally, Oppenheimer cut shares of Apple from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $235.80.

Apple Stock Performance

NASDAQ AAPL opened at $195.27 on Friday. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $2.92 trillion, a price-to-earnings ratio of 31.00, a P/E/G ratio of 2.44 and a beta of 1.27. The firm's 50 day simple moving average is $205.04 and its 200 day simple moving average is $225.95.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 160.83%. The firm had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same quarter last year, the business posted $1.53 earnings per share. The company's quarterly revenue was up 5.1% on a year-over-year basis. As a group, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a $0.26 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is currently 16.20%.

Apple declared that its board has initiated a stock repurchase 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 usually an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Apple

In other news, COO Jeffrey E. Williams sold 35,493 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the transaction, the chief operating officer now owns 390,059 shares of the company's stock, valued at approximately $87,377,116.59. This trade represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 38,822 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the transaction, the senior vice president now directly owns 179,158 shares of the company's stock, valued at $40,072,269.86. The trade was a 17.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,507 shares of company stock worth $42,694,080 over the last quarter. Corporate insiders own 0.06% of the company's stock.

Apple Profile

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.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.