Unison Asset Management LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 30.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,755 shares of the iPhone maker's stock after selling 8,901 shares during the quarter. Apple makes up about 2.7% of Unison Asset Management LLC's holdings, making the stock its 16th biggest position. Unison Asset Management LLC's holdings in Apple were worth $4,610,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. Leading Edge Financial Planning LLC grew its stake in Apple by 8.0% in the 1st quarter. Leading Edge Financial Planning LLC now owns 2,779 shares of the iPhone maker's stock valued at $617,000 after buying an additional 207 shares during the last quarter. Gerber LLC grew its stake in Apple by 9.6% in the 1st quarter. Gerber LLC now owns 34,648 shares of the iPhone maker's stock valued at $7,696,000 after buying an additional 3,043 shares during the last quarter. Invesco LLC grew its stake in Apple by 3.7% in the 1st quarter. Invesco LLC now owns 55,361 shares of the iPhone maker's stock valued at $12,297,000 after buying an additional 1,951 shares during the last quarter. Navis Wealth Advisors LLC grew its position in Apple by 4.4% in the 1st quarter. Navis Wealth Advisors LLC now owns 2,493 shares of the iPhone maker's stock worth $554,000 after purchasing an additional 106 shares during the last quarter. Finally, G2 Capital Management LLC OH grew its position in Apple by 1.2% in the 1st quarter. G2 Capital Management LLC OH now owns 30,875 shares of the iPhone maker's stock worth $6,858,000 after purchasing an additional 363 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have issued reports on AAPL. Citigroup raised their price target on shares of Apple from $240.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. The Goldman Sachs Group restated a "buy" rating on shares of Apple in a research report on Wednesday, May 21st. Monness Crespi & Hardt raised their price target on shares of Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. raised their price target on shares of Apple from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, 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 report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $237.25.
View Our Latest Stock Report on AAPL
Apple Stock Down 0.2%
Shares of NASDAQ:AAPL opened at $202.92 on Wednesday. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a 50 day moving average of $205.58 and a 200-day moving average of $213.24. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market cap of $3.01 trillion, a price-to-earnings ratio of 30.79, a P/E/G ratio of 2.14 and a beta of 1.16.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. During the same quarter in the previous year, the company earned $1.40 EPS. Apple's revenue was up 9.6% on a year-over-year basis. On average, sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.
Apple Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 11th will be issued a dividend of $0.26 per share. The ex-dividend date is Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.5%. Apple's payout ratio is currently 15.78%.
Apple declared that its Board of Directors has initiated a share buyback plan on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.
Insider Transactions at Apple
In related news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the transaction, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.06% of the company's stock.
Apple Profile
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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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