Islay Capital Management LLC Has $4.15 Million Position in Apple Inc. (NASDAQ:AAPL)

Islay Capital Management LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 0.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 21,527 shares of the iPhone maker’s stock after buying an additional 171 shares during the period. Apple accounts for about 3.2% of Islay Capital Management LLC’s portfolio, making the stock its 5th largest holding. Islay Capital Management LLC’s holdings in Apple were worth $4,145,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Headinvest LLC boosted its holdings in Apple by 1.7% in the 3rd quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock valued at $9,236,000 after purchasing an additional 872 shares during the period. Sound Income Strategies LLC lifted its holdings in shares of Apple by 16.1% during the 4th quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock worth $14,461,000 after acquiring an additional 10,425 shares during the period. DNB Asset Management AS lifted its holdings in shares of Apple by 6.9% during the 4th quarter. DNB Asset Management AS now owns 4,307,068 shares of the iPhone maker’s stock worth $829,240,000 after acquiring an additional 279,311 shares during the period. Boltwood Capital Management lifted its holdings in shares of Apple by 2.8% during the 4th quarter. Boltwood Capital Management now owns 37,178 shares of the iPhone maker’s stock worth $7,158,000 after acquiring an additional 1,021 shares during the period. Finally, NewEdge Wealth LLC lifted its holdings in shares of Apple by 16.2% during the 4th quarter. NewEdge Wealth LLC now owns 808,709 shares of the iPhone maker’s stock worth $155,701,000 after acquiring an additional 112,980 shares during the period. Institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $192.25 on Monday. The firm has a 50-day moving average of $177.53 and a 200-day moving average of $183.22. The company has a market cap of $2.95 trillion, a P/E ratio of 29.90, a P/E/G ratio of 2.34 and a beta of 1.26. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. Apple Inc. has a one year low of $164.07 and a one year high of $199.62.

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

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

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Friday, May 10th. This is an increase from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio (DPR) is 15.55%.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total value of $951,809.60. Following the completion of the transaction, the insider now owns 29,278 shares in the company, valued at $5,574,531.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total value of $951,809.60. Following the completion of the transaction, the insider now owns 29,278 shares in the company, valued at $5,574,531.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction 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 approximately $18,768,046.56. The disclosure for this sale can be found here. Insiders sold 271,270 shares of company stock worth $46,511,696 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Loop Capital cut their price target on shares of Apple from $185.00 to $170.00 and set a “hold” rating for the company in a report on Monday, April 1st. Wedbush upped their price target on shares of Apple from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Morgan Stanley upped their price objective on shares of Apple from $210.00 to $216.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Monness Crespi & Hardt upped their price objective on shares of Apple from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. One 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 company. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $205.59.

Read Our Latest Report on AAPL

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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