Apple Inc. (NASDAQ:AAPL) Shares Acquired by Rebalance LLC

Rebalance LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 11.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,436 shares of the iPhone maker's stock after acquiring an additional 1,257 shares during the period. Rebalance LLC's holdings in Apple were worth $2,762,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Drystone LLC purchased a new stake in Apple during the 4th quarter worth $25,000. Conquis Financial LLC bought a new position in shares of Apple during the fourth quarter worth about $63,000. LSV Asset Management bought a new position in shares of Apple during the fourth quarter worth about $65,000. Pillar Financial Advisors LLC bought a new position in shares of Apple during the fourth quarter worth about $82,000. Finally, Compass Planning Associates Inc bought a new position in shares of Apple during the fourth quarter worth about $96,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Up 0.9%

Shares of NASDAQ AAPL traded up $1.92 during trading on Tuesday, hitting $214.40. The stock had a trading volume of 44,919,759 shares, compared to its average volume of 53,106,012. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. The company has a market capitalization of $3.20 trillion, a PE ratio of 33.40, a PEG ratio of 2.36 and a beta of 1.20. The firm has a fifty day moving average of $204.57 and a two-hundred day moving average of $215.41.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business's quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.53 EPS. As a group, equities research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. Apple's dividend payout ratio (DPR) is currently 16.20%.

Insider Buying and Selling at Apple

In other news, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the transaction, the chief financial officer directly owned 4,569 shares of the company's stock, valued at $941,214. This represents a 50.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was 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 of the company's stock, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Jefferies Financial Group upgraded shares of Apple from an "underperform" rating to a "hold" rating in a research note on Friday. China Renaissance assumed coverage on shares of Apple in a research note on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 price target on the stock. Needham & Company LLC restated a "hold" rating on shares of Apple in a research note on Tuesday, June 10th. Barclays set a $173.00 price target on shares of Apple and gave the company an "underweight" rating in a research note on Tuesday, June 24th. Finally, Tigress Financial raised their price target on shares of Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a research note on Thursday, April 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $235.11.

About Apple

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.