McGrath & Associates Inc. acquired a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,106 shares of the iPhone maker's stock, valued at approximately $1,279,000. Apple accounts for 2.6% of McGrath & Associates Inc.'s holdings, making the stock its 15th biggest holding.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAPL. State Street Corp raised its holdings 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 worth $136,074,372,000 after acquiring an additional 55,935,105 shares during the period. Proficio Capital Partners LLC increased its holdings in Apple by 23,555.4% during the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock worth $5,272,653,000 after purchasing an additional 20,966,232 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Apple by 6.5% in the 3rd 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 period. FMR LLC raised its stake in shares of Apple by 5.3% in the 3rd 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 period. Finally, Strategic Financial Concepts LLC lifted its holdings in shares of Apple by 25,285.2% in the fourth quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker's stock valued at $2,411,260,000 after purchasing an additional 9,590,933 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the company. Barclays dropped their target price on Apple from $197.00 to $173.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 30th. Tigress Financial lifted their price objective on shares of Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a report on Thursday, April 3rd. China Renaissance began coverage on shares of Apple in a report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 target price for the company. TD Cowen lowered their price target on shares of Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on Apple from $270.00 to $245.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $235.80.
Check Out Our Latest Stock Analysis on Apple
Apple Price Performance
Apple stock traded up $1.04 during mid-day trading on Friday, reaching $198.53. 36,406,804 shares of the company were exchanged, compared to its average volume of 56,044,007. The company has a fifty day simple moving average of $208.83 and a 200-day simple moving average of $227.64. The firm has a market cap of $2.98 trillion, a PE ratio of 31.51, a PEG ratio of 2.44 and a beta of 1.27. 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 Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. The business had revenue of $95.36 billion during 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%. Apple's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.53 earnings per share. As a group, equities research analysts expect 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 will be paid on Thursday, May 15th. Investors of record on Monday, May 12th will be given a dividend of $0.26 per share. This is a positive change from Apple's previous quarterly dividend of $0.25. The ex-dividend date is Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. Apple's dividend payout ratio (DPR) is currently 16.20%.
Apple announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's management believes its stock is undervalued.
Insider Activity at Apple
In other Apple news, CEO Timothy D. Cook sold 108,136 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was 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 of the company's stock, valued at approximately $733,637,976.75. This trade represents a 3.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the business's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the transaction, the chief financial officer now directly owns 4,569 shares of the company's stock, valued at $941,214. This trade represents a 50.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 187,021 shares of company stock valued at $41,760,140 over the last three months. 0.06% of the stock is owned by insiders.
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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