Sunbeam Capital Management LLC acquired a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,530 shares of the iPhone maker's stock, valued at approximately $5,141,000. Apple accounts for about 4.8% of Sunbeam Capital Management LLC's holdings, making the stock its 5th largest holding.
Other institutional investors and hedge funds also recently modified their holdings of the company. OneAscent Wealth Management LLC lifted its position in shares of Apple by 4.6% in the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock valued at $2,337,000 after buying an additional 409 shares during the last quarter. Allstate Corp boosted its holdings in shares of Apple by 3,368.2% in the 4th quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock valued at $113,062,000 after purchasing an additional 438,471 shares in the last quarter. Vinva Investment Management Ltd boosted its holdings in shares of Apple by 12.4% during the 4th quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker's stock valued at $192,700,000 after acquiring an additional 83,997 shares in the last quarter. Tradewinds Capital Management LLC boosted its holdings in shares of Apple by 9.2% during the 4th quarter. Tradewinds Capital Management LLC now owns 21,198 shares of the iPhone maker's stock valued at $5,308,000 after acquiring an additional 1,779 shares in the last quarter. Finally, Berkshire Bank boosted its holdings in shares of Apple by 2.7% during the 4th quarter. Berkshire Bank now owns 89,580 shares of the iPhone maker's stock valued at $22,433,000 after acquiring an additional 2,360 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.
Apple Price Performance
AAPL stock opened at $196.58 on Friday. The firm has a market capitalization of $2.94 trillion, a price-to-earnings ratio of 30.62, a PEG ratio of 2.19 and a beta of 1.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The firm has a 50 day moving average price of $202.29 and a 200-day moving average price of $222.00. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. During the same quarter in the previous year, the firm posted $1.53 EPS. The firm's revenue was up 5.1% on a year-over-year basis. Equities research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple Increases Dividend
The company 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 is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.53%. Apple's payout ratio is 16.20%.
Apple declared that its Board of Directors has approved a share buyback program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
AAPL has been the subject of several research analyst reports. The Goldman Sachs Group reissued a "buy" rating on shares of Apple in a research report on Wednesday, May 21st. China Renaissance initiated coverage on Apple in a report on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 target price for the company. Raymond James Financial reduced their target price on Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Tigress Financial increased their target price on Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a research report on Thursday, April 3rd. Finally, Scotiabank cut Apple to a "market perform" rating in a research note on Friday, May 2nd. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $234.86.
Check Out Our Latest Analysis on AAPL
Insider Activity at Apple
In other news, COO Jeffrey E. Williams sold 35,493 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were 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 directly owns 390,059 shares in the company, valued at $87,377,116.59. The trade was a 8.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the sale, the chief executive officer now owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This trade represents a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is owned by corporate insiders.
Apple Profile
(
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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