US Asset Management LLC Acquires Shares of 42,870 Apple Inc. (NASDAQ:AAPL)

US Asset Management LLC bought a new position in shares of Apple Inc. (NASDAQ:AAPLFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 42,870 shares of the iPhone maker’s stock, valued at approximately $8,254,000. Apple makes up about 8.2% of US Asset Management LLC’s holdings, making the stock its biggest position.

A number of other institutional investors also recently modified their holdings of AAPL. International Assets Investment Management LLC increased its stake in Apple by 14,395.4% during the 4th quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock worth $136,119,470,000 after acquiring an additional 70,212,651 shares during the period. Cerity Partners LLC lifted its position in shares of Apple by 130.1% during the 4th quarter. Cerity Partners LLC now owns 9,430,190 shares of the iPhone maker’s stock valued at $1,815,594,000 after acquiring an additional 5,331,439 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Apple during the 4th quarter worth $560,388,000. Hudson Bay Capital Management LP bought a new position in shares of Apple in the third quarter worth $487,435,000. Finally, Barclays PLC increased its position in shares of Apple by 6.0% in the third quarter. Barclays PLC now owns 49,759,061 shares of the iPhone maker’s stock worth $8,519,244,000 after purchasing an additional 2,826,709 shares during the period. Institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $194.35 on Wednesday. The business has a 50-day moving average price of $178.48 and a two-hundred day moving average price of $183.28. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $199.62. 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 company has a market cap of $2.98 trillion, a P/E ratio of 30.23, a PEG ratio of 2.34 and a beta of 1.25.

Apple (NASDAQ:AAPLGet Free Report) last issued 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 analyst estimates of $90.37 billion. During the same period in the prior year, the firm earned $1.52 earnings per share. Apple’s revenue was down 4.3% on a year-over-year basis. As a group, analysts anticipate that Apple Inc. will post 6.57 EPS for the current year.

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 given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.51%. This is a positive change from Apple’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, May 10th. Apple’s payout ratio is presently 15.55%.

Apple announced that its Board of Directors has initiated a share buyback program 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 shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Loop Capital cut their price objective on shares of Apple from $185.00 to $170.00 and set a “hold” rating for the company in a research report on Monday, April 1st. Bank of America reiterated a “buy” rating and set a $230.00 price target on shares of Apple in a research report on Wednesday, May 29th. Wedbush boosted their price objective on shares of Apple from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. Canaccord Genuity Group upped their target price on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Saturday, May 4th. Finally, Citigroup lowered their price target on Apple from $220.00 to $210.00 and set a “buy” rating for the company in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $205.59.

Read Our Latest Analysis on Apple

Insider Buying and Selling

In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the sale, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Apple news, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the transaction, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the sale, the director now owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 346,270 shares of company stock valued at $60,880,196. 0.06% of the stock is owned by company insiders.

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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