8,388 Shares in Apple Inc. (NASDAQ:AAPL) Purchased by Sunbeam Capital Management LLC

Sunbeam Capital Management LLC acquired a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 8,388 shares of the iPhone maker's stock, valued at approximately $2,101,000. Apple accounts for approximately 4.5% of Sunbeam Capital Management LLC's investment portfolio, making the stock its 5th biggest position.

Other institutional investors have also recently made changes to their positions in the company. Drystone LLC acquired a new stake in Apple in the fourth quarter valued at approximately $25,000. Life Planning Partners Inc acquired a new position in shares of Apple during the 4th quarter worth approximately $47,000. Conquis Financial LLC purchased a new position in shares of Apple during the 4th quarter valued at approximately $63,000. LSV Asset Management acquired a new stake in Apple in the 4th quarter valued at $65,000. Finally, Pillar Financial Advisors LLC acquired a new stake in Apple in the 4th quarter valued at $82,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Up 2.2%

AAPL stock traded up $4.42 during trading on Friday, reaching $201.00. 95,792,149 shares of the stock were exchanged, compared to its average volume of 54,505,078. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $3.00 trillion, a price-to-earnings ratio of 31.31, a P/E/G ratio of 2.19 and a beta of 1.22. The business has a 50 day moving average price of $202.29 and a 200-day moving average price of $222.00. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (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 net margin of 24.30% and a return on equity of 167.24%. The business's revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.53 EPS. On average, research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders 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 annualized dividend and a yield of 0.52%. Apple's dividend payout ratio (DPR) is 16.20%.

Apple declared that its board has authorized a share buyback program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have weighed in on AAPL. Monness Crespi & Hardt upped their price objective on shares of Apple to $245.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. The Goldman Sachs Group restated a "buy" rating on shares of Apple in a research report on Wednesday, May 21st. Loop Capital decreased their price target on shares of Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. China Renaissance began coverage on Apple in a research note on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price objective for the company. Finally, UBS Group reissued a "buy" rating on shares of Apple in a report on Sunday, June 1st. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $234.86.

Insider Buying and Selling at Apple

In other Apple news, COO Jeffrey E. Williams sold 35,493 shares of the company'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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider now owns 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,507 shares of company stock worth $42,694,080 over the last quarter. 0.06% of the stock is currently owned by company insiders.

About Apple

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.