Mather Group LLC. Purchases 7,340 Shares of Apple Inc. (NASDAQ:AAPL)

Mather Group LLC. increased its position in Apple Inc. (NASDAQ:AAPLFree Report) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 240,281 shares of the iPhone maker’s stock after purchasing an additional 7,340 shares during the quarter. Apple makes up 0.7% of Mather Group LLC.’s holdings, making the stock its 21st largest position. Mather Group LLC.’s holdings in Apple were worth $46,261,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Morgan Stanley raised its holdings in Apple by 1.0% in the 3rd quarter. Morgan Stanley now owns 206,732,960 shares of the iPhone maker’s stock valued at $35,394,751,000 after acquiring an additional 2,018,010 shares during the period. International Assets Investment Management LLC raised its holdings in Apple by 14,395.4% in the 4th quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock valued at $136,119,470,000 after acquiring an additional 70,212,651 shares during the period. Barclays PLC raised its holdings in Apple by 6.0% in the 3rd quarter. Barclays PLC now owns 49,759,061 shares of the iPhone maker’s stock valued at $8,519,244,000 after acquiring an additional 2,826,709 shares during the period. California Public Employees Retirement System raised its holdings in Apple by 4.6% in the 3rd quarter. California Public Employees Retirement System now owns 38,579,495 shares of the iPhone maker’s stock valued at $6,605,195,000 after acquiring an additional 1,696,576 shares during the period. Finally, Nordea Investment Management AB increased its holdings in shares of Apple by 1.7% during the third quarter. Nordea Investment Management AB now owns 17,519,918 shares of the iPhone maker’s stock worth $3,020,609,000 after purchasing an additional 287,329 shares during the period. 60.41% of the stock is owned by institutional investors.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,999 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total value of $951,809.60. Following the transaction, the insider now owns 29,278 shares in the company, valued at $5,574,531.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Timothy D. Cook sold 99,183 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the transaction, 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 SEC, which is available through this link. Also, insider Chris Kondo sold 4,999 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 29,278 shares in the company, valued at approximately $5,574,531.20. The disclosure for this sale can be found here. Insiders have sold a total of 271,270 shares of company stock worth $46,511,696 over the last quarter. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Canaccord Genuity Group raised their target price on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Saturday, May 4th. UBS Group reaffirmed a “hold” rating and set a $190.00 target price on shares of Apple in a report on Monday, March 25th. Monness Crespi & Hardt raised their target price on shares of Apple from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Canaccord Genuity Group raised their target price on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $200.00 target price on shares of Apple in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.59.

Read Our Latest Stock Report on AAPL

Apple Stock Performance

Shares of Apple stock opened at $192.25 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $199.62. The stock has a market cap of $2.95 trillion, a price-to-earnings ratio of 29.90, a P/E/G ratio of 2.32 and a beta of 1.26. The company’s fifty day moving average is $177.53 and its 200 day moving average is $183.28.

Apple (NASDAQ:AAPLGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The company had revenue of $90.75 billion for the quarter, compared to analysts’ expectations of $90.37 billion. During the same quarter in the previous year, the firm posted $1.52 earnings per share. Apple’s revenue for the quarter was down 4.3% on a year-over-year basis. Sell-side analysts forecast that Apple Inc. will post 6.57 EPS for the current year.

Apple declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are 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. This is a positive change from Apple’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, May 10th. This represents a $1.00 annualized dividend and a yield of 0.52%. Apple’s payout ratio is presently 15.55%.

About Apple

(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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