Steward Partners Investment Advisory LLC Boosts Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Steward Partners Investment Advisory LLC raised its stake in Apple Inc. (NASDAQ:AAPLFree Report) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,957,744 shares of the iPhone maker’s stock after buying an additional 32,099 shares during the period. Apple makes up about 5.1% of Steward Partners Investment Advisory LLC’s investment portfolio, making the stock its largest holding. Steward Partners Investment Advisory LLC’s holdings in Apple were worth $376,924,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of AAPL. CAP Partners LLC purchased a new position in Apple during the 4th quarter worth approximately $3,698,000. AAFMAA Wealth Management & Trust LLC grew its position in Apple by 8.0% during the 4th quarter. AAFMAA Wealth Management & Trust LLC now owns 15,277 shares of the iPhone maker’s stock worth $2,941,000 after purchasing an additional 1,127 shares in the last quarter. 3Chopt Investment Partners LLC grew its position in Apple by 26.7% during the 4th quarter. 3Chopt Investment Partners LLC now owns 57,294 shares of the iPhone maker’s stock worth $11,031,000 after purchasing an additional 12,086 shares in the last quarter. Connable Office Inc. grew its holdings in shares of Apple by 3.0% during the 4th quarter. Connable Office Inc. now owns 59,001 shares of the iPhone maker’s stock valued at $11,359,000 after acquiring an additional 1,705 shares in the last quarter. Finally, Somerset Group LLC grew its holdings in shares of Apple by 0.5% during the 4th quarter. Somerset Group LLC now owns 35,657 shares of the iPhone maker’s stock valued at $6,864,000 after acquiring an additional 165 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling

In related news, Director Arthur D. Levinson sold 75,000 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the transaction, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction dated 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 sale, 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 99,183 shares of the company’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 sale, the chief executive officer now directly owns 3,377,407 shares in the company, valued at $574,260,512.21. The disclosure for this sale can be found here. Insiders sold 346,270 shares of company stock valued at $60,880,196 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Canaccord Genuity Group boosted their price target on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a report on Saturday, May 4th. UBS Group restated a “hold” rating and set a $190.00 price target on shares of Apple in a report on Monday, March 25th. Monness Crespi & Hardt restated a “buy” rating and set a $205.00 price target on shares of Apple in a report on Thursday. Rosenblatt Securities restated a “neutral” rating and set a $196.00 price target (up from $189.00) on shares of Apple in a report on Friday, May 3rd. Finally, Wedbush boosted their price target on shares of Apple from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $205.59.

Get Our Latest Stock Analysis on Apple

Apple Stock Performance

NASDAQ:AAPL opened at $196.89 on Monday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $199.62. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $3.02 trillion, a PE ratio of 30.62, a price-to-earnings-growth ratio of 2.40 and a beta of 1.25. The firm has a 50-day moving average price of $179.90 and a 200 day moving average price of $183.38.

Apple (NASDAQ:AAPLGet Free Report) last posted its quarterly 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 firm had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. During the same quarter in the prior year, the business posted $1.52 earnings per share. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. Research analysts anticipate that Apple Inc. will post 6.57 earnings per share for the current fiscal year.

Apple announced that its board has approved a stock buyback 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 repurchase up to 3.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Apple Increases Dividend

The firm also recently declared 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 annualized dividend and a yield of 0.51%. The ex-dividend date was Friday, May 10th. This is a positive change from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio is 15.55%.

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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