Smith Anglin Financial LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,875 shares of the iPhone maker's stock after purchasing an additional 1,773 shares during the period. Apple makes up approximately 2.6% of Smith Anglin Financial LLC's portfolio, making the stock its 9th biggest holding. Smith Anglin Financial LLC's holdings in Apple were worth $24,184,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Regent Peak Wealth Advisors LLC raised its position in Apple by 0.9% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 111,858 shares of the iPhone maker's stock valued at $28,012,000 after purchasing an additional 1,050 shares during the period. Tallon Kerry Patrick purchased a new stake in shares of Apple in the fourth quarter worth about $1,877,000. JGP Wealth Management LLC boosted its position in shares of Apple by 0.6% in the fourth quarter. JGP Wealth Management LLC now owns 221,319 shares of the iPhone maker's stock worth $55,423,000 after buying an additional 1,424 shares during the period. Omega Financial Group LLC grew its stake in shares of Apple by 5.4% in the fourth quarter. Omega Financial Group LLC now owns 6,919 shares of the iPhone maker's stock valued at $1,733,000 after buying an additional 352 shares in the last quarter. Finally, Capital Advisors Wealth Management LLC raised its holdings in shares of Apple by 4.8% during the 4th quarter. Capital Advisors Wealth Management LLC now owns 52,944 shares of the iPhone maker's stock valued at $13,258,000 after buying an additional 2,414 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.
Apple Stock Performance
Shares of AAPL traded up $4.62 during trading hours on Wednesday, reaching $212.44. 67,874,321 shares of the company's stock traded hands, compared to its average volume of 53,627,933. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The business's fifty day simple moving average is $203.01 and its two-hundred day simple moving average is $219.45. 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 firm has a market capitalization of $3.17 trillion, a price-to-earnings ratio of 33.09, a P/E/G ratio of 2.32 and a beta of 1.20.
Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business had revenue of $95.36 billion during the quarter, compared to analysts' expectations 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. Analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.
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. This is a positive change from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. Apple's dividend payout ratio (DPR) is 16.20%.
Apple announced that its board has initiated a share repurchase program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.
Wall Street Analyst Weigh In
AAPL has been the topic of several recent research reports. KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Evercore ISI boosted their target price on shares of Apple to $250.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Monness Crespi & Hardt upped their target price on shares of Apple to $245.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Rosenblatt Securities lowered Apple from a "buy" rating to a "neutral" rating and set a $217.00 price objective for the company. in a research note on Friday, May 2nd. Finally, Barclays set a $173.00 price target on shares of Apple and gave the stock an "underweight" rating in a research note on Tuesday, June 24th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Apple presently has an average rating of "Moderate Buy" and an average target price of $234.95.
Get Our Latest Report on AAPL
Insider Activity
In related news, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the sale, the chief financial officer owned 4,569 shares in the company, valued at approximately $941,214. This represents a 50.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the transaction, the insider owned 15,533 shares in the company, valued at $3,233,815.27. This represents a 22.41% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.
Apple Profile
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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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