Apple Inc. (NASDAQ:AAPL) is First Trust Direct Indexing L.P.’s Largest Position

First Trust Direct Indexing L.P. boosted its holdings in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 15.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 329,275 shares of the iPhone maker’s stock after purchasing an additional 43,850 shares during the period. Apple makes up 5.7% of First Trust Direct Indexing L.P.’s investment portfolio, making the stock its largest holding. First Trust Direct Indexing L.P.’s holdings in Apple were worth $63,395,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Headinvest LLC raised its stake in shares of Apple by 1.7% during the third quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock worth $9,236,000 after purchasing an additional 872 shares during the last quarter. Sound Income Strategies LLC raised its position in 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 buying an additional 10,425 shares during the last quarter. DNB Asset Management AS lifted its stake in shares of Apple by 6.9% in 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 boosted its holdings in shares of Apple by 2.8% in the fourth quarter. Boltwood Capital Management now owns 37,178 shares of the iPhone maker’s stock valued at $7,158,000 after acquiring an additional 1,021 shares in the last quarter. Finally, NewEdge Wealth LLC increased its stake in shares of Apple by 16.2% during the fourth 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. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AAPL has been the topic of a number of analyst reports. UBS Group reaffirmed a “hold” rating and issued a $190.00 price objective on shares of Apple in a report on Monday, March 25th. Monness Crespi & Hardt lifted their price target on Apple from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Citigroup cut their price objective on Apple from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Bank of America restated a “buy” rating and set a $230.00 target price on shares of Apple in a research report on Wednesday, May 29th. Finally, Maxim Group assumed coverage on shares of Apple in a report on Wednesday, April 17th. They issued a “hold” rating and a $178.00 price target for the company. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $205.59.

Read Our Latest Stock Analysis on Apple

Insider Transactions at Apple

In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the business’s 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 of the company’s stock, valued at $574,260,512.21. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Apple news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the transaction, the director now directly owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction on 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 directly owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. Insiders sold a total of 346,270 shares of company stock worth $60,880,196 in the last ninety days. Insiders own 0.06% of the company’s stock.

Apple Stock Up 0.9 %

Shares of NASDAQ:AAPL opened at $194.03 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The firm has a market cap of $2.98 trillion, a price-to-earnings ratio of 30.18, a PEG ratio of 2.34 and a beta of 1.25. The stock’s 50-day moving average price is $177.99 and its two-hundred day moving average price is $183.25. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $199.62.

Apple (NASDAQ:AAPLGet Free Report) last released its earnings results 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 net margin of 26.31% and a return on equity of 148.33%. The business had revenue of $90.75 billion for the quarter, compared to analysts’ expectations of $90.37 billion. During the same period last year, the company earned $1.52 earnings per share. The company’s quarterly revenue was down 4.3% on a year-over-year basis. On average, research analysts forecast that Apple Inc. will post 6.57 EPS for the current year.

Apple Increases Dividend

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

Apple declared that its board has approved a stock repurchase plan on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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.

Further Reading

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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