Portland Financial Advisors Inc Makes New $406,000 Investment in Apple Inc. (NASDAQ:AAPL)

Portland Financial Advisors Inc purchased 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 & Exchange Commission. The fund purchased 1,622 shares of the iPhone maker's stock, valued at approximately $406,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AAPL. State Street Corp increased 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 worth $136,074,372,000 after acquiring an additional 55,935,105 shares during the period. Geode Capital Management LLC increased its holdings 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 in the last quarter. FMR LLC lifted its stake in shares of Apple by 5.3% in 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 period. Strategic Financial Concepts LLC lifted its position in shares of Apple by 25,285.2% during the 4th quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker's stock valued at $2,411,260,000 after acquiring an additional 9,590,933 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Apple by 6.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker's stock worth $22,121,656,000 after acquiring an additional 5,893,741 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Down 3.1 %

Shares of NASDAQ:AAPL traded down $6.46 during midday trading on Monday, reaching $198.89. The company had a trading volume of 67,364,869 shares, compared to its average volume of 56,243,494. The stock's fifty day moving average price is $212.15 and its 200-day moving average price is $228.58. The stock has a market capitalization of $2.99 trillion, a P/E ratio of 31.57, a PEG ratio of 2.44 and a beta of 1.26. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. 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 (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 160.83% and a net margin of 24.30%. The company had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. During the same quarter last year, the firm earned $1.53 EPS. The business's revenue was up 5.1% on a year-over-year basis. Equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 12th will be paid 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 yield of 0.52%. Apple's dividend payout ratio is 15.87%.

Apple announced that its board has approved a share buyback program on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several research reports. JPMorgan Chase & Co. cut their price target on Apple from $270.00 to $245.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group cut their price objective on Apple from $259.00 to $256.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Morgan Stanley upped their price objective on Apple from $220.00 to $235.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Monness Crespi & Hardt cut their target price on shares of Apple from $260.00 to $245.00 and set a "buy" rating for the company in a research note on Friday. Finally, DA Davidson raised their price target on shares of Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Apple presently has a consensus rating of "Moderate Buy" and an average target price of $235.80.

Insiders Place Their Bets

In related news, CEO Timothy D. Cook sold 108,136 shares of the 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 completion of the transaction, the chief executive officer now owns 3,280,295 shares in the company, valued at $733,637,976.75. This represents a 3.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the business's stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 4,569 shares in the company, valued at approximately $941,214. The trade was 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 quarter. Insiders own 0.06% of the company's stock.

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.