Snider Financial Group lifted its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 55.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,777 shares of the iPhone maker's stock after buying an additional 16,771 shares during the quarter. Apple comprises 3.6% of Snider Financial Group's holdings, making the stock its 6th biggest position. Snider Financial Group's holdings in Apple were worth $11,714,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Triad Wealth Partners LLC increased its position in shares of Apple by 25.2% in the fourth quarter. Triad Wealth Partners LLC now owns 23,536 shares of the iPhone maker's stock worth $5,894,000 after purchasing an additional 4,740 shares during the period. Wealth Advisory Solutions LLC increased its position in shares of Apple by 2.1% in the fourth quarter. Wealth Advisory Solutions LLC now owns 66,514 shares of the iPhone maker's stock worth $16,656,000 after purchasing an additional 1,399 shares during the period. Carrera Capital Advisors increased its position in shares of Apple by 16.5% in the fourth quarter. Carrera Capital Advisors now owns 12,081 shares of the iPhone maker's stock worth $3,025,000 after purchasing an additional 1,714 shares during the period. Glass Wealth Management Co LLC grew its position in Apple by 10.6% in the fourth quarter. Glass Wealth Management Co LLC now owns 46,426 shares of the iPhone maker's stock valued at $11,626,000 after acquiring an additional 4,457 shares during the last quarter. Finally, Crew Capital Management Ltd. grew its position in Apple by 2.8% in the fourth quarter. Crew Capital Management Ltd. now owns 28,793 shares of the iPhone maker's stock valued at $7,210,000 after acquiring an additional 782 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.
Apple Trading Down 0.4%
Shares of Apple stock traded down $0.88 during midday trading on Thursday, reaching $211.45. The company had a trading volume of 43,910,127 shares, compared to its average volume of 55,930,688. The stock has a fifty day moving average price of $206.60 and a 200 day moving average price of $226.99. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The firm has a market cap of $3.16 trillion, a PE ratio of 33.56, a P/E/G ratio of 2.44 and a beta of 1.27. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same period in the previous year, the firm earned $1.53 earnings per share. The company's revenue was up 5.1% compared to the same quarter last year. On average, equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.
Apple declared that its Board of Directors has authorized a share repurchase 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 purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.
Apple Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 12th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.49%. Apple's payout ratio is 16.20%.
Insider Buying and Selling at Apple
In other news, SVP Katherine L. Adams sold 38,822 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the transaction, the senior vice president now directly owns 179,158 shares of the company's stock, valued at $40,072,269.86. This represents a 17.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 108,136 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 3,280,295 shares in the company, valued at $733,637,976.75. The trade was a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,507 shares of company stock valued at $42,694,080. 0.06% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on AAPL shares. JPMorgan Chase & Co. decreased their target price on Apple from $270.00 to $245.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Citigroup reiterated a "cautious" rating on shares of Apple in a research report on Monday, May 5th. KeyCorp upgraded Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. DA Davidson lifted their target price on Apple from $230.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, Bank of America decreased their target price on Apple from $250.00 to $240.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $235.80.
Check Out Our Latest Research Report 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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