McDonough Capital Management Inc raised its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,801 shares of the iPhone maker's stock after purchasing an additional 1,913 shares during the quarter. Apple accounts for approximately 11.7% of McDonough Capital Management Inc's investment portfolio, making the stock its 2nd largest holding. McDonough Capital Management Inc's holdings in Apple were worth $18,982,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in AAPL. Black Swift Group LLC increased its holdings in Apple by 9.8% during the 4th quarter. Black Swift Group LLC now owns 11,253 shares of the iPhone maker's stock worth $2,818,000 after purchasing an additional 1,004 shares during the period. Promus Capital LLC bought a new position in shares of Apple during the 4th quarter worth $1,621,000. First Business Financial Services Inc. increased its stake in shares of Apple by 1.0% during the fourth quarter. First Business Financial Services Inc. now owns 58,728 shares of the iPhone maker's stock valued at $14,707,000 after buying an additional 584 shares during the period. Dana Investment Advisors Inc. raised its holdings in shares of Apple by 0.5% in the fourth quarter. Dana Investment Advisors Inc. now owns 620,616 shares of the iPhone maker's stock valued at $155,415,000 after acquiring an additional 3,206 shares in the last quarter. Finally, Vision Financial Markets LLC purchased a new stake in Apple in the fourth quarter worth about $7,778,000. 67.73% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on AAPL shares. 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 report on Friday, May 2nd. Jefferies Financial Group reissued an "underperform" rating and issued a $170.62 price objective (up previously from $167.88) on shares of Apple in a research note on Friday, May 2nd. JPMorgan Chase & Co. dropped their target price on Apple from $270.00 to $245.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Loop Capital cut their price target on Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Finally, Bank of America decreased their price objective on Apple from $250.00 to $240.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $235.80.
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Apple Stock Performance
NASDAQ AAPL traded down $0.19 on Friday, reaching $211.26. 53,614,750 shares of the company's stock traded hands, compared to its average volume of 55,938,270. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The firm has a market cap of $3.16 trillion, a price-to-earnings ratio of 33.53, a P/E/G ratio of 2.44 and a beta of 1.27. The stock has a 50 day moving average price of $206.09 and a 200-day moving average price of $226.68.
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 the consensus estimate of $1.62 by $0.03. The business had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. The company's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.53 EPS. Equities research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. This is a positive change from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple's payout ratio is 16.20%.
Apple announced that its Board of Directors has initiated a stock buyback 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 reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.
Insider Activity at Apple
In other news, insider Chris Kondo sold 4,486 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider now owns 15,533 shares in the company, valued at $3,233,815.27. This trade represents a 22.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jeffrey E. Williams sold 35,493 shares of Apple stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the sale, the chief operating officer now directly owns 390,059 shares in the company, valued at $87,377,116.59. This represents a 8.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,507 shares of company stock worth $42,694,080 in the last three months. Company 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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