Spahn Wealth & Retirement LLC acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 25,594 shares of the iPhone maker's stock, valued at approximately $6,409,000. Apple comprises 4.2% of Spahn Wealth & Retirement LLC's portfolio, making the stock its 8th largest holding.
A number of other hedge funds have also recently made changes to their positions in AAPL. Norges Bank acquired a new position in shares of Apple during the fourth quarter valued at about $46,868,648,000. Vanguard Group Inc. grew its stake in shares of Apple by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock worth $349,532,608,000 after purchasing an additional 49,168,843 shares during the period. Proficio Capital Partners LLC grew its stake in shares of Apple by 23,555.4% during the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock worth $5,272,653,000 after purchasing an additional 20,966,232 shares during the period. Geode Capital Management LLC grew its stake in shares of Apple by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock worth $77,542,863,000 after purchasing an additional 20,483,787 shares during the period. Finally, Strategic Financial Concepts LLC lifted its position in shares of Apple by 25,285.2% during the 4th quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker's stock valued at $2,411,260,000 after buying an additional 9,590,933 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.
Apple Price Performance
AAPL stock traded down $2.75 during midday trading on Friday, reaching $196.45. 51,345,532 shares of the stock were exchanged, compared to its average volume of 54,742,937. The stock has a market capitalization of $2.93 trillion, a PE ratio of 31.18, a P/E/G 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. 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 company has a fifty day moving average price of $201.76 and a 200 day moving average price of $223.02.
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, beating analysts' consensus estimates of $1.62 by $0.03. The company had revenue of $95.36 billion for 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 firm's revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.53 EPS. As a group, analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a $0.26 dividend. The ex-dividend date was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.53%. Apple's dividend payout ratio is 16.20%.
Apple announced that its board has initiated a stock buyback program on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on AAPL shares. Scotiabank lowered Apple to a "market perform" rating in a report on Friday, May 2nd. Barclays cut their price objective on Apple from $197.00 to $173.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research report on Tuesday, June 10th. Citigroup reiterated a "buy" rating on shares of Apple in a research note on Tuesday, June 10th. Finally, Tigress Financial lifted their price objective on Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a research note on Thursday, April 3rd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $234.86.
View Our Latest Research Report on Apple
Insider Transactions at Apple
In related news, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the sale, the chief operating officer now owns 390,059 shares in the company, valued at approximately $87,377,116.59. This trade represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the sale, the insider now owns 15,533 shares in the company, valued at $3,233,815.27. The trade was a 22.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,507 shares of company stock valued at $42,694,080 over the last ninety days. 0.06% of the stock is currently owned by insiders.
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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