Apple Inc. (NASDAQ:AAPL) Shares Acquired by Smith Moore & CO.

Smith Moore & CO. increased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 169,879 shares of the iPhone maker's stock after acquiring an additional 4,824 shares during the period. Apple comprises about 3.9% of Smith Moore & CO.'s portfolio, making the stock its 3rd biggest position. Smith Moore & CO.'s holdings in Apple were worth $42,541,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Drystone LLC bought a new stake in shares of Apple during the 4th quarter valued at about $25,000. Life Planning Partners Inc bought a new position in shares of Apple in the fourth quarter valued at approximately $47,000. Conquis Financial LLC bought a new stake in Apple during the fourth quarter worth $63,000. SPX Gestao de Recursos Ltda bought a new stake in Apple during the third quarter worth $71,000. Finally, Pillar Financial Advisors LLC purchased a new stake in Apple in the fourth quarter worth $82,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Trading Down 1.4%

Shares of NASDAQ:AAPL traded down $2.75 during trading on Friday, reaching $196.45. The company's stock had a trading volume of 51,345,532 shares, compared to its average volume of 54,742,937. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The firm's 50 day simple moving average is $201.76 and its two-hundred day simple moving average is $223.02. The stock has a market capitalization of $2.93 trillion, a PE ratio of 31.18, a price-to-earnings-growth ratio of 2.44 and a beta of 1.22.

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 (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.03. The business had revenue of $95.36 billion during 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 quarter last year, the firm earned $1.53 earnings per share. On average, research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple declared that its Board of Directors has initiated a stock buyback plan 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 shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

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 paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is currently 16.20%.

Insider Activity

In related news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider now directly owns 15,533 shares of the company's stock, valued at $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the transaction, the chief executive officer now directly owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. The trade was a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,507 shares of company stock valued at $42,694,080. Corporate insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

AAPL has been the subject of several recent research reports. The Goldman Sachs Group reiterated a "buy" rating on shares of Apple in a research report on Wednesday, May 21st. China Renaissance started coverage on Apple in a report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price target on the stock. Citigroup restated a "buy" rating on shares of Apple in a research note on Tuesday. Morgan Stanley reaffirmed an "overweight" rating and issued a $235.00 price objective on shares of Apple in a research report on Thursday, June 5th. Finally, Rosenblatt Securities cut Apple from a "buy" rating to a "neutral" rating and set a $217.00 price objective on the stock. in a research report on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $234.86.

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.