Bruce G. Allen Investments LLC announced in its latest filing with the Securities and Exchange Commission that it reduced its holdings in Apple Inc. (NASDAQ:AAPL – free report) by 1.7% during the first quarter. The institutional investor sold 163 shares during the period, leaving it holding 9,284 shares of the iPhone maker. Apple represents about 1.3% of Bruce G. Allen Investments LLC’s holdings, making it the company’s 10th largest position. Bruce G. Allen Investments LLC’s holdings in Apple were valued at $1.592 million at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings in Apple Inc. Norges Bank bought new shares of Apple Inc. in the fourth quarter, valued at $33,912,466,000. International Asset Investment Management LLC increased its holdings of Apple Inc. by 14,395.4% in the fourth quarter. International Asset Investment Management LLC now holds 70,700,395 shares of Apple Inc., valued at $136,119,470,000, after purchasing an additional 70,212,651 shares last quarter. The Vanguard Group increased its holdings of Apple Inc. by 1.4% in the fourth quarter. The Vanguard Group now holds 1,318,064,349 shares of the iPhone maker, valued at $253,766,929,000, after purchasing an additional 18,067,216 shares last quarter. Cerity Partners increased its holdings in Apple stock by 130.1% in the fourth quarter. Cerity Partners now holds 9,430,190 shares of the iPhone maker’s stock, valued at $1,815,594,000, after purchasing an additional 5,331,439 shares in the last quarter. Finally, Aegon Asset Management UK Plc purchased a new holding in Apple stock worth approximately $560,388,000 in the fourth quarter. Institutional investors now own 60.41% of the company’s stock.
Insider Trading at Apple
In other Apple news, insider Chris Condo sold 4,999 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total transaction value of $951,809.60. Following the completion of the sale, the insider now directly owns 29,278 shares of the company’s stock, valued at approximately $5,574,531.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction value of $14,368,500.00. Following the completion of the transaction, the director now directly owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The transaction was disclosed in a legal filing with the SEC, which can be viewed on the SEC’s website. Additionally, insider Chris Kondo sold 4,999 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total transaction value of $951,809.60. Following the completion of the transaction, the insider now directly owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The disclosure for this sale can be found here. Insiders have sold a total of 346,270 shares of the company’s stock in the last three months for a value of $60,880,196. 0.06% of the stock is now owned by company insiders.
Apple shares fell 1.0%
Shares of NASDAQ:AAPL opened at $207.49 on Friday. Apple’s 12-month low was $164.07 and its 12-month high was $220.20. The company’s current ratio is 1.04, quick ratio is 0.99 and debt-to-equity ratio is 1.24. The company’s market capitalization is $3.18 trillion, its price-to-earnings ratio is 32.27, its price-to-earnings growth ratio is 2.55 and its beta is 1.25. The company’s 50-day moving average is $187.87 and its 200-day moving average is $184.81.
Apple (NASDAQ:AAPL – Get free report ) last released its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported quarterly earnings per share (EPS) of $1.53, beating analysts’ consensus estimates of $1.51 by $0.02. Apple’s net margin was 26.31%, and its return on equity was 148.33%. Revenue for the quarter was $90.75 billion, beating analysts’ estimates of $90.37 billion. During the same period last year, the company posted an EPS of $1.52. The company’s revenue was down 4.3% year-over-year. Equity research analysts expect Apple Inc. to post EPS of 6.58 this year.
Apple announced on Thursday, May 2, that its board of directors had approved a share repurchase plan that would allow it to buy back $110 billion worth of its own stock. The buyback authorization allows the iPhone maker to purchase up to 3.9% of its own stock through open market purchases. A buyback plan is typically a sign that a company’s board believes its stock is undervalued.
Apple increases dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were paid a dividend of $0.25 per share. This is a positive change from Apple’s previous quarterly dividend of $0.24. On an annualized basis, this equates to a dividend of $1.00 and a yield of 0.48%. The ex-dividend date was Friday, May 10th. Apple has a dividend payout ratio (DPR) of 15.55%.
Analyst upgrades and downgrades
Several stock analysts have recently issued reports on AAPL stock. DZ Bank reaffirmed their “hold” rating on shares of Apple with a $180.00 price target in a research report on Thursday, March 28th. JPMorgan Chase & Co. raised their price target on Apple from $225.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. Erste Group Bank raised their rating on Apple from a “hold” to a “buy” rating in a research report on Friday, June 14th. Barclays reaffirmed their “underweight” rating on Apple with a $164.00 price target in a research report on Tuesday, June 11th. Finally, Citigroup lowered their price target on Apple from $220.00 to $210.00 and set a “buy” rating on the company in a research report on Monday, April 29th. One investment analyst has rated the stock as a sell, 12 have rated it as a hold, 22 have rated it as a buy, and one has rated it as a strong buy. According to MarketBeat data, Apple currently has a consensus rating of “moderate buy” with a consensus target price of $209.38.
Get the latest stock analysis for AAPL
About Apple
(Free report)
Apple Inc. designs, manufactures, and sells smartphones, computers, tablets, wearables, and accessories worldwide. The company offers a line of smartphones, iPhones, a line of computers, Macs, a line of multi-purpose tablets, iPads, and wearables, home, and accessories, including AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
References
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