28,417 Shares in Apple Inc. (NASDAQ:AAPL) Acquired by Runnymede Capital Advisors Inc.

Runnymede Capital Advisors Inc. bought a new stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 28,417 shares of the iPhone maker's stock, valued at approximately $7,116,000. Apple makes up 6.2% of Runnymede Capital Advisors Inc.'s portfolio, making the stock its 4th largest position.

Several other large investors also recently modified their holdings of the stock. Mizuho Securities USA LLC increased its holdings in Apple by 45.3% during the 4th quarter. Mizuho Securities USA LLC now owns 1,432,637 shares of the iPhone maker's stock valued at $358,761,000 after purchasing an additional 446,730 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Apple in the 4th quarter valued at about $18,891,000. von Borstel & Associates Inc. raised its position in shares of Apple by 6.6% during the 4th quarter. von Borstel & Associates Inc. now owns 4,564 shares of the iPhone maker's stock valued at $1,142,000 after acquiring an additional 282 shares during the last quarter. Millstone Evans Group LLC bought a new position in shares of Apple during the fourth quarter worth $14,220,000. Finally, Mindset Wealth Management LLC raised its stake in Apple by 8.3% during the 4th quarter. Mindset Wealth Management LLC now owns 245,666 shares of the iPhone maker's stock worth $61,520,000 after buying an additional 18,765 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AAPL. Rosenblatt Securities lowered shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target on the stock. in a research note on Friday, May 2nd. Maxim Group upped their target price on shares of Apple to $215.00 and gave the company a "hold" rating in a report on Friday, February 21st. Monness Crespi & Hardt reduced their price target on Apple from $260.00 to $245.00 and set a "buy" rating for the company in a report on Friday, May 2nd. China Renaissance began coverage on Apple in a research report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price target on the stock. Finally, Scotiabank cut Apple to a "market perform" rating in a research report on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $235.80.

Apple Price Performance

NASDAQ:AAPL traded up $1.48 during trading hours on Wednesday, hitting $204.75. The company's stock had a trading volume of 10,857,378 shares, compared to its average volume of 55,960,202. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The stock has a fifty day simple moving average of $202.29 and a 200-day simple moving average of $224.69. The company has a market capitalization of $3.06 trillion, a P/E ratio of 32.56, a PEG ratio of 2.44 and a beta of 1.27.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly 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. The company had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company posted $1.53 EPS. On average, analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a dividend of $0.26 per share. 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 annualized dividend and a dividend yield of 0.51%. Apple's dividend payout ratio is 16.20%.

Apple declared that its board has initiated a stock buyback plan on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its shares are undervalued.

Insider Activity

In other Apple news, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the transaction, the chief executive officer now directly owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This trade represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction dated 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 now directly owns 15,533 shares in the company, 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. In the last ninety days, insiders sold 191,507 shares of company stock worth $42,694,080. 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.