SlateStone Wealth LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 12.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 248,764 shares of the iPhone maker's stock after selling 36,772 shares during the period. Apple comprises 6.1% of SlateStone Wealth LLC's investment portfolio, making the stock its biggest holding. SlateStone Wealth LLC's holdings in Apple were worth $62,295,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in the business. Drystone LLC purchased a new position in Apple during the fourth quarter worth about $25,000. SPX Gestao de Recursos Ltda acquired a new position in Apple during the third quarter worth about $71,000. Pillar Financial Advisors LLC purchased a new stake in Apple in the 4th quarter valued at approximately $82,000. Teachers Insurance & Annuity Association of America acquired a new position in Apple in the 3rd quarter valued at about $77,000. Finally, Compass Planning Associates Inc purchased a new stake in Apple in the 4th quarter worth approximately $96,000. 67.73% of the stock is owned by hedge funds and other institutional investors.
Apple Trading Down 0.3%
Shares of AAPL traded down $0.55 during trading hours on Friday, reaching $199.40. 8,470,658 shares of the company traded hands, compared to its average volume of 56,035,679. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company's fifty day moving average price is $203.59 and its two-hundred day moving average price is $225.20. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $2.98 trillion, a price-to-earnings ratio of 31.62, a price-to-earnings-growth 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 (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 160.83% and a net margin of 24.30%. The firm had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. During the same quarter in the previous year, the firm earned $1.53 EPS. Apple's quarterly revenue was up 5.1% compared to the same quarter last year. Equities research analysts predict 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. Investors of record on Monday, May 12th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.52%. This is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio (DPR) is presently 16.20%.
Apple declared that its Board of Directors has initiated a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its shares are undervalued.
Wall Street Analyst Weigh In
AAPL has been the subject of a number of research analyst reports. Tigress Financial increased their target price on shares of Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a research report on Thursday, April 3rd. Jefferies Financial Group reaffirmed an "underperform" rating and set a $170.62 target price (up from $167.88) on shares of Apple in a report on Friday, May 2nd. TD Cowen cut their price target on Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Barclays dropped their price objective on Apple from $197.00 to $173.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 30th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Apple in a report on Monday, May 12th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Apple currently has an average rating of "Moderate Buy" and a consensus price target of $235.80.
View Our Latest Analysis on AAPL
Insider Buying and Selling at Apple
In other Apple news, COO Jeffrey E. Williams sold 35,493 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was 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 in the company, valued at $87,377,116.59. The trade was a 8.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Katherine L. Adams sold 38,822 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the transaction, the senior vice president now directly owns 179,158 shares in the company, valued at $40,072,269.86. This trade represents a 17.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,507 shares of company stock valued at $42,694,080 in the last 90 days. Insiders own 0.06% of the company's stock.
About Apple
(
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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