Suncoast Equity Management Has $57.38 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Suncoast Equity Management lifted its position in Apple Inc. (NASDAQ:AAPLFree Report) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 298,046 shares of the iPhone maker’s stock after buying an additional 3,222 shares during the quarter. Apple comprises 7.6% of Suncoast Equity Management’s investment portfolio, making the stock its 2nd largest holding. Suncoast Equity Management’s holdings in Apple were worth $57,383,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. DGS Capital Management LLC grew its stake in shares of Apple by 4.1% in the 4th quarter. DGS Capital Management LLC now owns 45,071 shares of the iPhone maker’s stock valued at $8,677,000 after buying an additional 1,777 shares in the last quarter. United Asset Strategies Inc. grew its stake in shares of Apple by 6.7% in the 4th quarter. United Asset Strategies Inc. now owns 156,036 shares of the iPhone maker’s stock valued at $30,042,000 after buying an additional 9,795 shares in the last quarter. Peirce Capital Management LLC bought a new stake in shares of Apple in the 4th quarter valued at approximately $408,000. Prosperitas Financial LLC grew its stake in shares of Apple by 0.7% in the 4th quarter. Prosperitas Financial LLC now owns 51,966 shares of the iPhone maker’s stock valued at $10,005,000 after buying an additional 368 shares in the last quarter. Finally, Grant GrossMendelsohn LLC grew its stake in shares of Apple by 12.6% in the 4th quarter. Grant GrossMendelsohn LLC now owns 38,914 shares of the iPhone maker’s stock valued at $7,488,000 after buying an additional 4,345 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AAPL. JPMorgan Chase & Co. upped their target price on Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Loop Capital decreased their target price on Apple from $185.00 to $170.00 and set a “hold” rating for the company in a research report on Monday, April 1st. Barclays upped their target price on Apple from $158.00 to $164.00 and gave the stock an “underweight” rating in a research report on Friday, May 3rd. DZ Bank reaffirmed a “hold” rating and set a $180.00 target price on shares of Apple in a research report on Thursday, March 28th. Finally, Morgan Stanley upped their target price on Apple from $210.00 to $216.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $204.11.

Get Our Latest Stock Analysis on Apple

Insider Transactions at Apple

In other news, Director Arthur D. Levinson sold 100,000 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the sale, the director now owns 4,434,576 shares in the company, valued at $802,392,181.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the sale, the senior vice president now owns 136,572 shares in the company, valued at $23,068,376.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the transaction, the director now owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 366,271 shares of company stock worth $63,653,887. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

Apple stock opened at $187.43 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. The stock has a fifty day moving average price of $172.57 and a two-hundred day moving average price of $182.15. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $199.62. The firm has a market capitalization of $2.87 trillion, a P/E ratio of 29.15, a P/E/G ratio of 2.20 and a beta of 1.26.

Apple (NASDAQ:AAPLGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The firm had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. During the same period in the prior year, the company posted $1.52 earnings per share. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, analysts anticipate that Apple Inc. will post 6.57 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 13th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Friday, May 10th. This is a boost from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio is presently 15.55%.

Apple declared that its board has initiated a stock repurchase plan on Thursday, May 2nd that permits the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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