Darrow Company Inc. Acquires New Position in Apple Inc. (NASDAQ:AAPL)

Darrow Company Inc. bought a new position in Apple Inc. (NASDAQ:AAPLFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,219 shares of the iPhone maker’s stock, valued at approximately $427,000. Apple comprises approximately 0.3% of Darrow Company Inc.’s holdings, making the stock its 28th biggest holding.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Headlands Technologies LLC boosted its stake in shares of Apple by 589.0% during the fourth quarter. Headlands Technologies LLC now owns 221,926 shares of the iPhone maker’s stock valued at $42,727,000 after purchasing an additional 189,718 shares during the period. Citizens Financial Group Inc. RI raised its holdings in Apple by 8.5% during the 4th quarter. Citizens Financial Group Inc. RI now owns 518,173 shares of the iPhone maker’s stock valued at $99,764,000 after buying an additional 40,464 shares during the last quarter. Golden State Equity Partners boosted its position in Apple by 1.8% during the 4th quarter. Golden State Equity Partners now owns 120,876 shares of the iPhone maker’s stock valued at $23,272,000 after buying an additional 2,136 shares during the period. Heritage Financial Services LLC grew its holdings in Apple by 2.9% in the 4th quarter. Heritage Financial Services LLC now owns 30,515 shares of the iPhone maker’s stock worth $5,875,000 after acquiring an additional 864 shares during the last quarter. Finally, Raab & Moskowitz Asset Management LLC increased its position in shares of Apple by 1.1% in the fourth quarter. Raab & Moskowitz Asset Management LLC now owns 88,135 shares of the iPhone maker’s stock valued at $16,969,000 after acquiring an additional 979 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling at Apple

In related news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares in the company, valued at $574,260,512.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the company’s 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 approximately $574,260,512.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 4,999 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total transaction of $951,809.60. Following the sale, 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 371,270 shares of company stock valued at $64,605,696 over the last ninety days. 0.06% of the stock is currently owned by company insiders.

Apple Stock Performance

NASDAQ:AAPL opened at $189.99 on Wednesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. The stock has a 50-day simple moving average of $176.50 and a two-hundred day simple moving average of $183.12. The firm has a market capitalization of $2.91 trillion, a PE ratio of 29.55, a P/E/G ratio of 2.32 and a beta of 1.26. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $199.62.

Apple (NASDAQ:AAPLGet Free Report) last released its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The company had revenue of $90.75 billion for the quarter, compared to analysts’ expectations of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.52 EPS. Analysts forecast that Apple Inc. will post 6.57 EPS for the current year.

Apple declared that its Board of Directors has authorized a share buyback plan on Thursday, May 2nd that permits the company to buyback $110.00 billion in shares. This buyback authorization permits the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.00 annualized dividend and a yield of 0.53%. This is an increase from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio is currently 15.55%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AAPL shares. Maxim Group initiated coverage on shares of Apple in a research report on Wednesday, April 17th. They issued a “hold” rating and a $178.00 target price for the company. Rosenblatt Securities reiterated a “neutral” rating and set a $196.00 target price (up previously from $189.00) on shares of Apple in a report on Friday, May 3rd. Loop Capital lowered their target price on Apple from $185.00 to $170.00 and set a “hold” rating for the company in a research note on Monday, April 1st. Canaccord Genuity Group increased their price objective on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Saturday, May 4th. Finally, Morgan Stanley boosted their target price on shares of Apple from $210.00 to $216.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.44.

Read Our Latest Stock Analysis on Apple

Apple Company 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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