SoundView Advisors Inc. Takes $1.80 Million Position in Apple Inc. (NASDAQ:AAPL)

SoundView Advisors Inc. bought a new stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,172 shares of the iPhone maker's stock, valued at approximately $1,795,000. Apple comprises approximately 0.7% of SoundView Advisors Inc.'s investment portfolio, making the stock its 19th biggest holding.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. State Street Corp raised its position in Apple by 10.6% during the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock valued at $136,074,372,000 after purchasing an additional 55,935,105 shares in the last quarter. Proficio Capital Partners LLC increased its stake in shares of Apple by 23,555.4% during the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock valued at $5,272,653,000 after buying an additional 20,966,232 shares during the period. Geode Capital Management LLC increased its stake in shares of Apple by 6.5% during the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock valued at $77,542,863,000 after buying an additional 20,483,787 shares during the period. FMR LLC lifted its stake in Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock worth $84,779,231,000 after acquiring an additional 18,224,005 shares during the period. Finally, Strategic Financial Concepts LLC lifted its stake in Apple by 25,285.2% in the fourth quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker's stock worth $2,411,260,000 after acquiring an additional 9,590,933 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Price Performance

Apple stock opened at $206.86 on Wednesday. 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 market capitalization of $3.09 trillion, a P/E ratio of 32.83, a P/E/G ratio of 2.44 and a beta of 1.27. The firm's 50-day moving average is $205.87 and its two-hundred day moving average is $226.43. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 160.83% and a net margin of 24.30%. The business's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.53 EPS. Equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.50%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is currently 16.20%.

Apple declared that its Board of Directors has authorized a share repurchase 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 buy up to 3.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AAPL. UBS Group dropped their price objective on shares of Apple from $236.00 to $210.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. The Goldman Sachs Group lowered their target price on Apple from $259.00 to $256.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. 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. KeyCorp upgraded Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Apple in a research report on Monday, May 12th. Four equities 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $235.80.

Insider Activity

In related news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was 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. This trade represents a 22.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were 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 of the company's stock, valued at $87,377,116.59. This represents a 8.34% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 191,507 shares of company stock valued at $42,694,080. Company 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.

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