Apple Inc. (NASDAQ:AAPL) is Symmetry Partners LLC's 6th Largest Position

Symmetry Partners LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 53.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 93,806 shares of the iPhone maker's stock after purchasing an additional 32,618 shares during the period. Apple accounts for approximately 3.3% of Symmetry Partners LLC's portfolio, making the stock its 6th largest position. Symmetry Partners LLC's holdings in Apple were worth $23,491,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of AAPL. Drystone LLC bought a new position in Apple in the 4th quarter worth $25,000. SPX Gestao de Recursos Ltda bought a new stake in shares of Apple during the 3rd quarter valued at about $71,000. Pillar Financial Advisors LLC purchased a new position in shares of Apple during the fourth quarter valued at about $82,000. Teachers Insurance & Annuity Association of America bought a new position in Apple in the third quarter worth about $77,000. Finally, Compass Planning Associates Inc purchased a new stake in Apple in the fourth quarter worth about $96,000. 67.73% of the stock is owned by institutional investors.

Apple Stock Performance

AAPL stock traded down $0.94 during midday trading on Friday, reaching $199.01. 70,744,759 shares of the company's stock traded hands, compared to its average volume of 56,305,937. 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 52-week low of $169.21 and a 52-week high of $260.10. The stock has a market cap of $2.97 trillion, a P/E ratio of 31.59, a PEG ratio of 2.44 and a beta of 1.27. The stock's 50-day moving average is $203.59 and its 200 day moving average is $225.20.

Apple (NASDAQ:AAPL - Get Free Report) last issued 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. Apple had a net margin of 24.30% and a return on equity of 160.83%. The firm 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 company's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its Board of Directors has initiated a stock 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 reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its shares are undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a $0.26 dividend. This is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. Apple's dividend payout ratio is presently 16.20%.

Insider Transactions at Apple

In other Apple news, COO Jeffrey E. Williams sold 35,493 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the sale, the chief operating officer now directly owns 390,059 shares of the company's stock, valued at $87,377,116.59. This trade represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 38,822 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the transaction, the senior vice president now owns 179,158 shares in the company, valued at $40,072,269.86. The trade was a 17.81% 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 valued at $42,694,080 over the last quarter. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on AAPL. China Renaissance initiated coverage on Apple in a report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 target price on the stock. Morgan Stanley reiterated an "overweight" rating on shares of Apple in a report on Monday, May 12th. JPMorgan Chase & Co. dropped their target price on shares of Apple from $270.00 to $245.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Monness Crespi & Hardt lowered their price target on shares of Apple from $260.00 to $245.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Tigress Financial boosted their price objective on shares of Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a research note on Thursday, April 3rd. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $235.80.

Apple Company 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.