Seven Mile Advisory grew its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 18.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 42,584 shares of the iPhone maker's stock after purchasing an additional 6,684 shares during the quarter. Apple accounts for 6.8% of Seven Mile Advisory's portfolio, making the stock its 3rd largest position. Seven Mile Advisory's holdings in Apple were worth $10,664,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. O Connor Financial Group LLC increased its holdings in Apple by 1.2% in the fourth quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker's stock valued at $896,000 after buying an additional 41 shares in the last quarter. Menard Financial Group LLC grew its position in shares of Apple by 0.4% during the 3rd quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker's stock valued at $2,848,000 after acquiring an additional 48 shares during the period. Hanseatic Management Services Inc. grew its position in shares of Apple by 1.3% during the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock valued at $945,000 after acquiring an additional 48 shares during the period. Family Capital Management Inc. increased its stake in shares of Apple by 0.3% in the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock valued at $4,235,000 after purchasing an additional 48 shares in the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in Apple by 0.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock worth $4,178,000 after purchasing an additional 48 shares during the period. Institutional investors own 67.73% of the company's stock.
Apple Trading Up 0.6%
Shares of NASDAQ AAPL traded up $1.22 during mid-day trading on Tuesday, reaching $202.67. 52,015,754 shares of the company's stock were exchanged, compared to its average volume of 56,214,415. The company's 50-day moving average is $200.72 and its 200-day moving average is $223.92. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The firm has a market capitalization of $3.03 trillion, a price-to-earnings ratio of 32.17, a PEG ratio of 2.44 and a beta of 1.22. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. The business 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 business's revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.53 EPS. Analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple announced that its board has initiated a share buyback 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 purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.
Apple Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. This is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio is 16.20%.
Insider Transactions at Apple
In related news, insider Chris Kondo sold 4,486 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider now owns 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of Apple stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the transaction, the chief operating officer now directly owns 390,059 shares of the company's stock, valued at approximately $87,377,116.59. This represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,507 shares of company stock worth $42,694,080 over the last ninety days. Company insiders own 0.06% of the company's stock.
Analyst Ratings Changes
AAPL has been the topic of several research analyst reports. Bank of America reissued a "buy" rating and issued a $235.00 price objective on shares of Apple in a report on Tuesday. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Apple in a report on Wednesday, May 21st. KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research note on Tuesday. Finally, UBS Group reiterated a "buy" rating on shares of Apple in a research note on Sunday, June 1st. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $234.86.
Check Out Our Latest Stock Analysis on AAPL
Apple Company Profile
(
Free Report)
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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