Apple Inc. (NASDAQ:AAPL) is Derbend Asset Management’s 5th Largest Position

Derbend Asset Management grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,133 shares of the iPhone maker’s stock after buying an additional 1,720 shares during the period. Apple accounts for 5.0% of Derbend Asset Management’s investment portfolio, making the stock its 5th biggest position. Derbend Asset Management’s holdings in Apple were worth $8,689,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Wyrmwood Management LLC boosted its holdings in shares of Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 69 shares during the last quarter. Gilfoyle & Co LLC boosted its holdings in shares of Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares during the last quarter. PayPay Securities Corp boosted its holdings in shares of Apple by 70.2% during the third quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after purchasing an additional 210 shares during the last quarter. Cordant Inc. boosted its holdings in shares of Apple by 27.7% during the third quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock worth $110,000 after purchasing an additional 140 shares during the last quarter. Finally, Life Planning Partners Inc acquired a new stake in shares of Apple during the fourth quarter worth $132,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Stock Up 0.5 %

Shares of NASDAQ AAPL opened at $169.89 on Friday. Apple Inc. has a 1 year low of $162.80 and a 1 year high of $199.62. The firm has a market cap of $2.62 trillion, a price-to-earnings ratio of 26.46, a PEG ratio of 2.01 and a beta of 1.27. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07. The stock’s 50-day simple moving average is $173.30 and its 200-day simple moving average is $181.85.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. The business had revenue of $119.60 billion for the quarter, compared to analyst estimates of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.88 earnings per share. As a group, equities analysts anticipate that Apple Inc. will post 6.54 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s dividend payout ratio is currently 14.95%.

Insider Activity at Apple

In related news, CFO Luca Maestri sold 53,194 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $18,768,046.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Apple news, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the transaction, the chief executive officer now directly owns 3,377,407 shares in the company, valued at $574,260,512.21. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $18,768,046.56. The disclosure for this sale can be found here. Insiders sold a total of 366,271 shares of company stock valued at $63,653,887 over the last three months. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their price objective on Apple from $215.00 to $210.00 and set an “overweight” rating on the stock in a report on Thursday, April 11th. Loop Capital decreased their price objective on Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a report on Monday, April 1st. Monness Crespi & Hardt raised their price objective on Apple from $189.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. DA Davidson began coverage on Apple in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $166.00 target price on the stock. Finally, UBS Group reiterated a “hold” rating and issued a $190.00 target price on shares of Apple in a report on Monday, March 25th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $203.05.

About Apple

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.