UNIVEST FINANCIAL Corp Sells 3,570 Shares of Apple Inc. (NASDAQ:AAPL)

UNIVEST FINANCIAL Corp lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 399,681 shares of the iPhone maker's stock after selling 3,570 shares during the quarter. Apple accounts for about 6.3% of UNIVEST FINANCIAL Corp's portfolio, making the stock its 3rd biggest position. UNIVEST FINANCIAL Corp's holdings in Apple were worth $100,088,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Drystone LLC acquired a new stake in Apple in the 4th quarter valued at $25,000. SPX Gestao de Recursos Ltda acquired a new stake in shares of Apple in the third quarter valued at about $71,000. Pillar Financial Advisors LLC acquired a new position in shares of Apple during the 4th quarter worth approximately $82,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Apple during the 3rd quarter worth approximately $77,000. Finally, Compass Planning Associates Inc acquired a new position in shares of Apple during the 4th quarter worth approximately $96,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Price Performance

Apple stock traded up $3.29 during trading hours on Friday, reaching $203.92. 46,477,335 shares of the stock were exchanged, compared to its average volume of 56,154,463. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a market cap of $3.05 trillion, a P/E ratio of 32.37, a price-to-earnings-growth ratio of 2.44 and a beta of 1.22. The stock has a 50 day moving average of $201.17 and a two-hundred day moving average of $224.12. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. The company's revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.53 EPS. Equities analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its Board of Directors has approved a share buyback plan on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a $0.26 dividend. The ex-dividend date was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.51%. Apple's dividend payout ratio (DPR) is 16.20%.

Insider Activity

In other Apple news, CEO Timothy D. Cook sold 108,136 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the sale, the chief executive officer now owns 3,280,295 shares in the company, valued at $733,637,976.75. This trade represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Katherine L. Adams sold 38,822 shares of the firm's stock in a transaction on 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 sale, the senior vice president now directly owns 179,158 shares in the company, valued at approximately $40,072,269.86. This trade represents a 17.81% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,507 shares of company stock worth $42,694,080. Corporate insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

AAPL has been the topic of several recent analyst reports. UBS Group restated a "buy" rating on shares of Apple in a research note on Sunday, June 1st. Needham & Company LLC reissued a "hold" rating and set a $225.00 price target on shares of Apple in a research report on Wednesday. Loop Capital lowered their price target on Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. Monness Crespi & Hardt lowered their price target on Apple from $260.00 to $245.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Finally, Evercore ISI boosted their target price on Apple to $250.00 and gave the stock a "buy" rating in a report on Friday. 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $235.02.

Apple 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.