Zevenbergen Capital Investments LLC Has $122.40 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Zevenbergen Capital Investments LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 488,796 shares of the iPhone maker's stock after selling 6,521 shares during the period. Apple comprises 2.5% of Zevenbergen Capital Investments LLC's portfolio, making the stock its 14th biggest position. Zevenbergen Capital Investments LLC's holdings in Apple were worth $122,404,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Apple by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after purchasing an additional 49,168,843 shares during the last quarter. State Street Corp grew its stake in shares of Apple by 10.6% during the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock valued at $136,074,372,000 after purchasing an additional 55,935,105 shares during the last quarter. FMR LLC grew its stake in shares of Apple by 5.3% during the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock valued at $84,779,231,000 after purchasing an additional 18,224,005 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Apple by 6.5% during the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock valued at $77,542,863,000 after purchasing an additional 20,483,787 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Apple by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 98,099,411 shares of the iPhone maker's stock valued at $24,566,054,000 after purchasing an additional 3,156,680 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several research analyst reports. Morgan Stanley reissued an "overweight" rating and set a $235.00 price target on shares of Apple in a research note on Thursday. Citigroup reissued a "cautious" rating on shares of Apple in a research note on Monday, May 5th. Barclays cut their price objective on shares of Apple from $197.00 to $173.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Monness Crespi & Hardt cut their price objective on shares of Apple from $260.00 to $245.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, TD Cowen cut their price objective on shares of Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $235.02.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 4,486 shares of the firm'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 now directly owns 15,533 shares of the company's stock, valued at $3,233,815.27. This trade represents a 22.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the transaction, the chief executive officer now directly owns 3,280,295 shares of the company's stock, valued at $733,637,976.75. This represents a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,507 shares of company stock valued at $42,694,080 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Up 1.6%

Shares of AAPL stock traded up $3.29 during trading hours on Friday, hitting $203.92. 46,477,335 shares of the company were exchanged, compared to its average volume of 56,141,787. The business has a 50 day moving average of $201.56 and a two-hundred day moving average of $224.35. 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 company has a market capitalization of $3.05 trillion, a PE ratio of 32.37, a PEG ratio of 2.44 and a beta of 1.22.

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, topping the consensus estimate of $1.62 by $0.03. The company 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 160.83%. The firm's revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.53 earnings per share. Analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is 16.20%.

Apple declared that its Board of Directors has authorized a stock repurchase program on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's leadership believes its shares are undervalued.

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.