Red Lighthouse Investment Management LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,445 shares of the iPhone maker's stock after selling 1,267 shares during the quarter. Apple comprises 8.8% of Red Lighthouse Investment Management LLC's holdings, making the stock its 4th biggest position. Red Lighthouse Investment Management LLC's holdings in Apple were worth $22,148,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of AAPL. State Street Corp increased its stake in shares of Apple by 10.6% in 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. FMR LLC grew its position in Apple by 5.3% during the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock valued at $84,779,231,000 after buying an additional 18,224,005 shares during the period. Geode Capital Management LLC grew its position in Apple by 6.5% during the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock valued at $77,542,863,000 after buying an additional 20,483,787 shares during the period. Charles Schwab Investment Management Inc. grew its position in Apple by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 98,099,411 shares of the iPhone maker's stock valued at $24,566,054,000 after buying an additional 3,156,680 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Apple by 1.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,568,390 shares of the iPhone maker's stock valued at $21,335,435,000 after buying an additional 1,742,087 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.
Apple Trading Down 0.1%
AAPL stock traded down $0.19 during trading on Friday, reaching $211.26. 53,614,750 shares of the stock were exchanged, compared to its average volume of 55,997,127. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The firm has a market capitalization 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 business has a 50 day moving average price of $206.09 and a 200-day moving average price of $226.66. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.
Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. The business had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The business's revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.53 EPS. On average, research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.
Apple Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. This is an increase 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 declared that its Board of Directors has authorized a share repurchase plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.
Analyst Ratings Changes
Several analysts recently commented on AAPL shares. Morgan Stanley restated an "overweight" rating on shares of Apple in a research report on Monday, May 12th. KeyCorp upgraded shares of Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. DA Davidson raised their price target on shares of Apple from $230.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Raymond James dropped their price target on shares of Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Apple from $270.00 to $245.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and a consensus price target of $235.80.
Check Out Our Latest Stock Report on Apple
Insider Activity
In related news, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction that occurred on 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 approximately $733,637,976.75. The trade was a 3.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction that occurred on 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 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. In the last three months, insiders have sold 191,507 shares of company stock valued at $42,694,080. Company insiders own 0.06% of the company's stock.
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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