Thoroughbred Financial Services LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 374,133 shares of the iPhone maker's stock after selling 8,919 shares during the period. Apple makes up approximately 5.7% of Thoroughbred Financial Services LLC's holdings, making the stock its 2nd biggest position. Thoroughbred Financial Services LLC's holdings in Apple were worth $93,690,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Drystone LLC purchased a new stake in shares of Apple during the 4th quarter valued at about $25,000. Life Planning Partners Inc purchased a new stake in shares of Apple during the 4th quarter valued at about $47,000. SPX Gestao de Recursos Ltda purchased a new stake in shares of Apple during the 3rd quarter valued at about $71,000. Pillar Financial Advisors LLC purchased a new stake in shares of Apple during the 4th quarter valued at about $82,000. Finally, Compass Planning Associates Inc purchased a new stake in shares of Apple during the 4th quarter valued at about $96,000. Institutional investors own 67.73% of the company's stock.
Insider Transactions at Apple
In related news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider now directly owns 15,533 shares in the company, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the sale, the chief financial officer now owns 4,569 shares of the company's stock, valued at $941,214. The trade was a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is currently owned by insiders.
Apple Trading Down 1.4%
Shares of NASDAQ:AAPL traded down $2.75 on Friday, hitting $196.45. 51,345,532 shares of the company's stock were exchanged, compared to its average volume of 54,804,401. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The stock has a market capitalization of $2.93 trillion, a price-to-earnings ratio of 31.18, a price-to-earnings-growth ratio of 2.44 and a beta of 1.22. The business's 50 day simple moving average is $201.76 and its two-hundred day simple moving average is $223.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.
Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 160.83% and a net margin of 24.30%. The business had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. During the same period last year, the company earned $1.53 earnings per share. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. Analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple declared that its board has initiated a stock repurchase plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.
Apple Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.53%. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio (DPR) is 16.20%.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on AAPL. Rosenblatt Securities lowered shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target for the company. in a research report on Friday, May 2nd. Barclays reduced their target price on shares of Apple from $197.00 to $173.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Wedbush reissued an "outperform" rating and issued a $270.00 target price on shares of Apple in a report on Tuesday. The Goldman Sachs Group reissued a "buy" rating on shares of Apple in a report on Wednesday, May 21st. Finally, Scotiabank lowered shares of Apple to a "market perform" rating in a report on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Apple currently has a consensus rating of "Moderate Buy" and a consensus price target of $234.86.
Read Our Latest Report on AAPL
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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