Physicians Financial Services Inc. increased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 0.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 220,058 shares of the iPhone maker's stock after purchasing an additional 1,629 shares during the period. Apple accounts for about 16.7% of Physicians Financial Services Inc.'s holdings, making the stock its biggest holding. Physicians Financial Services Inc.'s holdings in Apple were worth $55,107,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in AAPL. AMF Tjanstepension AB raised its position in Apple by 21.1% in the third quarter. AMF Tjanstepension AB now owns 3,380,064 shares of the iPhone maker's stock worth $787,631,000 after acquiring an additional 588,427 shares in the last quarter. Latitude Advisors LLC grew its holdings in Apple by 0.3% in the third quarter. Latitude Advisors LLC now owns 17,236 shares of the iPhone maker's stock valued at $4,016,000 after purchasing an additional 50 shares during the last quarter. Valmark Advisers Inc. raised its stake in shares of Apple by 1.0% during the 3rd quarter. Valmark Advisers Inc. now owns 197,176 shares of the iPhone maker's stock worth $45,942,000 after buying an additional 1,998 shares during the last quarter. Fidelis Capital Partners LLC raised its position in Apple by 7.1% during the third quarter. Fidelis Capital Partners LLC now owns 220,444 shares of the iPhone maker's stock worth $50,870,000 after acquiring an additional 14,616 shares during the last quarter. Finally, Deltec Asset Management LLC grew its position in shares of Apple by 23.0% in the third quarter. Deltec Asset Management LLC now owns 32,613 shares of the iPhone maker's stock valued at $7,599,000 after purchasing an additional 6,093 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.
Apple Stock Down 4.3 %
Shares of AAPL traded down $9.24 during mid-day trading on Friday, hitting $204.08. 66,471,523 shares of the company's stock were exchanged, compared to its average volume of 59,122,438. The firm has a fifty day moving average of $212.98 and a two-hundred day moving average of $228.83. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The stock has a market cap of $3.07 trillion, a price-to-earnings ratio of 32.38, a P/E/G ratio of 2.44 and a beta of 1.26.
Apple (NASDAQ:AAPL - Get Free Report) last posted 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. Apple had a net margin of 24.30% and a return on equity of 160.83%. The company had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same quarter in the previous year, the firm posted $1.53 EPS. The business's revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.
Apple announced that its Board of Directors has approved 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 purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.
Apple Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 12th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is 15.87%.
Insider Transactions at Apple
In other news, CEO Timothy D. Cook sold 108,136 shares of the company's stock in a transaction dated 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 directly owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. This represents a 3.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the transaction, the chief financial officer now directly owns 4,569 shares in the company, valued at $941,214. The trade was a 50.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 187,021 shares of company stock valued at $41,760,140 over the last 90 days. 0.06% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on AAPL shares. KeyCorp upgraded shares of Apple from an "underweight" rating to a "sector weight" rating in a report on Monday, April 14th. Rosenblatt Securities downgraded Apple from a "buy" rating to a "neutral" rating and set a $217.00 price objective for the company. in a research report on Friday. Argus upgraded Apple to a "strong-buy" rating in a research report on Friday, January 31st. UBS Group dropped their price objective on shares of Apple from $236.00 to $210.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Finally, Wedbush raised their target price on shares of Apple from $250.00 to $270.00 and gave the stock an "outperform" rating in a research report on Friday. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $233.25.
Get Our Latest Stock Analysis on AAPL
Apple Profile
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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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