Northwest Capital Management Inc trimmed its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 16.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,117 shares of the iPhone maker's stock after selling 8,313 shares during the quarter. Apple makes up 4.6% of Northwest Capital Management Inc's portfolio, making the stock its 5th biggest holding. Northwest Capital Management Inc's holdings in Apple were worth $10,797,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. O Connor Financial Group LLC raised its holdings in shares of Apple by 1.2% in the fourth quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker's stock valued at $896,000 after acquiring an additional 41 shares in the last quarter. Menard Financial Group LLC raised its stake in Apple by 0.4% in the 3rd quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker's stock worth $2,848,000 after acquiring an additional 48 shares during the last quarter. Hanseatic Management Services Inc. lifted its holdings in shares of Apple by 1.3% during the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock worth $945,000 after purchasing an additional 48 shares during the period. Family Capital Management Inc. boosted its holdings in Apple by 0.3% in the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock valued at $4,235,000 after purchasing an additional 48 shares during the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA boosted its position in Apple by 0.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock worth $4,178,000 after purchasing an additional 48 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
Apple Stock Performance
NASDAQ AAPL traded down $6.46 on Monday, hitting $198.89. 67,364,869 shares of the company's stock traded hands, compared to its average volume of 56,243,494. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. 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 firm has a market capitalization of $2.99 trillion, a PE ratio of 31.57, a P/E/G ratio of 2.44 and a beta of 1.26. The firm's 50-day moving average price is $212.15 and its two-hundred day moving average price is $228.58.
Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.62 by $0.03. The firm had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The business'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 company earned $1.53 EPS. As a group, analysts expect that Apple Inc. will post 7.28 EPS for the current year.
Apple Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 12th will be given a $0.26 dividend. The ex-dividend date is Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. Apple's dividend payout ratio is currently 15.87%.
Apple announced that its Board of Directors has initiated a share buyback program on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $225.00 target price on shares of Apple in a research note on Friday. Wedbush lowered shares of Apple from an "outperform" rating to a "neutral" rating in a research report on Friday. Oppenheimer cut shares of Apple from an "outperform" rating to a "market perform" rating in a research report on Wednesday, January 29th. Monness Crespi & Hardt cut their price target on shares of Apple from $260.00 to $245.00 and set a "buy" rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. lowered their target price on Apple from $270.00 to $245.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $235.80.
Read Our Latest Report on Apple
Insiders Place Their Bets
In other news, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the sale, the chief financial officer now owns 4,569 shares in the company, valued at approximately $941,214. This trade represents a 50.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the transaction, the chief operating officer now directly owns 390,059 shares in the company, valued at approximately $87,377,116.59. This trade represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 187,021 shares of company stock valued at $41,760,140 in the last ninety days. Insiders own 0.06% of the company's stock.
Apple Company 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.
Further Reading
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