Apple Inc. (NASDAQ:AAPL) Stock Position Reduced by HFR Wealth Management LLC

HFR Wealth Management LLC lessened its holdings in Apple Inc. (NASDAQ:AAPLFree Report) by 0.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 97,075 shares of the iPhone maker’s stock after selling 272 shares during the quarter. Apple makes up about 5.1% of HFR Wealth Management LLC’s holdings, making the stock its largest position. HFR Wealth Management LLC’s holdings in Apple were worth $18,690,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of AAPL. Norges Bank acquired a new position in Apple in the fourth quarter valued at $33,912,466,000. International Assets Investment Management LLC boosted its stake in Apple by 14,395.4% in the fourth 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 in the last quarter. Cerity Partners LLC boosted its stake in Apple by 130.1% in the fourth 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 in the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new position in Apple in the fourth quarter valued at $560,388,000. Finally, Hudson Bay Capital Management LP acquired a new position in Apple in the third quarter valued at $487,435,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on AAPL. Tigress Financial increased their target price on shares of Apple from $240.00 to $245.00 and gave the stock a “strong-buy” rating in a research note on Thursday, May 30th. Barclays increased their target price on shares of Apple from $158.00 to $164.00 and gave the stock an “underweight” rating in a research note on Friday, May 3rd. Canaccord Genuity Group increased their target price on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Maxim Group began coverage on shares of Apple in a research note on Wednesday, April 17th. They set a “hold” rating and a $178.00 target price for the company. Finally, Loop Capital decreased their target price on shares of Apple from $185.00 to $170.00 and set a “hold” rating for the company in a research note on Monday, April 1st. One research 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’s stock. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.59.

Read Our Latest Stock Analysis on Apple

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 54,732 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now owns 136,572 shares in the company, valued at $23,068,376.52. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 value of $9,244,782.12. Following the transaction, the senior vice president now owns 136,572 shares in the company, valued at approximately $23,068,376.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction 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 completion of the transaction, the director now owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 346,270 shares of company stock worth $60,880,196. 0.06% of the stock is owned by insiders.

Apple Stock Down 1.9 %

Shares of NASDAQ AAPL opened at $193.12 on Tuesday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $199.62. The firm’s 50 day moving average price is $180.37 and its 200 day moving average price is $183.39. The firm has a market cap of $2.96 trillion, a P/E ratio of 30.03, a price-to-earnings-growth ratio of 2.40 and a beta of 1.25. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04.

Apple (NASDAQ:AAPLGet Free Report) last announced its earnings results 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 firm had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. During the same quarter last year, the business earned $1.52 earnings per share. Apple’s revenue was down 4.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apple Inc. will post 6.57 earnings per share 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 dividend of $0.25 per share. The ex-dividend date was Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.52%. This is a positive change from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio (DPR) is 15.55%.

Apple declared that its Board of Directors has authorized a share buyback 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 buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.

Further Reading

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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