BOK Financial Private Wealth Inc. trimmed its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 90,716 shares of the iPhone maker’s stock after selling 4,023 shares during the period. Apple comprises about 1.0% of BOK Financial Private Wealth Inc.’s investment portfolio, making the stock its 18th largest position. BOK Financial Private Wealth Inc.’s holdings in Apple were worth $11,787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Robinson Value Management Ltd. bought a new position in shares of Apple in the 3rd quarter valued at about $28,000. Hanseatic Management Services Inc. lifted its holdings in Apple by 75.4% during the third quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock worth $34,000 after acquiring an additional 107 shares in the last quarter. HBC Financial Services PLLC lifted its stake in Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after buying an additional 80 shares in the last quarter. Align Wealth Management LLC bought a new position in Apple in the fourth quarter valued at approximately $55,000. Finally, CFS Investment Advisory Services LLC lifted its holdings in shares of Apple by 14,693.8% in the third quarter. CFS Investment Advisory Services LLC now owns 6,024,330 shares of the iPhone maker’s stock valued at $65,000 after purchasing an additional 5,983,608 shares in the last quarter. 57.60% of the stock is owned by institutional investors.
Apple Stock Down 0.3 %
AAPL opened at $172.07 on Tuesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.94 and a quick ratio of 0.88. The company’s 50-day moving average is $163.02 and its 200 day moving average is $149.99. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $176.15. The firm has a market capitalization of $2.71 trillion, a P/E ratio of 29.21, a PEG ratio of 2.31 and a beta of 1.29.
Apple Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 18th. Shareholders of record on Monday, May 15th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, May 12th. This is a positive change from Apple’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 0.56%. Apple’s payout ratio is presently 16.30%.
Apple declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 4th that permits the company to buyback $90.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to repurchase up to 3.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on AAPL shares. UBS Group set a $180.00 price objective on shares of Apple in a research report on Monday, April 3rd. Atlantic Securities raised their price target on shares of Apple from $180.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, May 5th. Needham & Company LLC lifted their price objective on shares of Apple from $170.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, May 5th. Canaccord Genuity Group boosted their price objective on shares of Apple from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, May 5th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Apple from $170.00 to $180.00 and gave the company a “buy” rating in a report on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $174.29.
Insider Buying and Selling at Apple
In related news, COO Jeffrey E. Williams sold 187,730 shares of the business’s stock in a transaction on Wednesday, March 22nd. The stock was sold at an average price of $159.76, for a total transaction of $29,991,744.80. Following the sale, the chief operating officer now directly owns 489,816 shares in the company, valued at approximately $78,253,004.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Apple news, insider Chris Kondo sold 4,092 shares of the company’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $173.26, for a total value of $708,979.92. Following the transaction, the insider now directly owns 33,946 shares in the company, valued at approximately $5,881,483.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 187,730 shares of the stock in a transaction on Wednesday, March 22nd. The stock was sold at an average price of $159.76, for a total transaction of $29,991,744.80. Following the completion of the transaction, the chief operating officer now directly owns 489,816 shares in the company, valued at approximately $78,253,004.16. The disclosure for this sale can be found here. Insiders have sold a total of 439,529 shares of company stock worth $71,703,657 over the last ninety days. 0.06% of the stock is currently owned by company insiders.
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.
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