Ratio Wealth Group Raises Stake in Apple Inc. (NASDAQ:AAPL)

Ratio Wealth Group increased its stake in Apple Inc. (NASDAQ:AAPLFree Report) by 1.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 11,662 shares of the iPhone maker’s stock after buying an additional 134 shares during the quarter. Ratio Wealth Group’s holdings in Apple were worth $2,245,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Vannoy Advisory Group Inc. purchased a new stake in Apple during the fourth quarter valued at about $295,000. California State Teachers Retirement System lifted its holdings in shares of Apple by 0.7% in the fourth quarter. California State Teachers Retirement System now owns 24,971,206 shares of the iPhone maker’s stock worth $4,807,706,000 after buying an additional 172,900 shares in the last quarter. Winslow Capital Management LLC lifted its holdings in shares of Apple by 2.1% in the fourth quarter. Winslow Capital Management LLC now owns 7,850,106 shares of the iPhone maker’s stock worth $1,511,381,000 after buying an additional 164,601 shares in the last quarter. United Community Bank lifted its holdings in shares of Apple by 87.9% in the fourth quarter. United Community Bank now owns 22,443 shares of the iPhone maker’s stock worth $4,321,000 after buying an additional 10,500 shares in the last quarter. Finally, Rice Partnership LLC lifted its holdings in shares of Apple by 1.7% in the fourth quarter. Rice Partnership LLC now owns 199,881 shares of the iPhone maker’s stock worth $38,483,000 after buying an additional 3,318 shares in the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AAPL shares. Maxim Group started coverage on shares of Apple in a report on Wednesday, April 17th. They issued a “hold” rating and a $178.00 price target on the stock. Monness Crespi & Hardt reissued a “buy” rating and issued a $205.00 price target on shares of Apple in a report on Thursday, June 6th. DZ Bank reissued a “hold” rating and issued a $180.00 price target on shares of Apple in a report on Thursday, March 28th. Wedbush upped their price objective on shares of Apple from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Friday, May 24th. Finally, Canaccord Genuity Group upped their price objective on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. One investment 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 stock. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $205.59.

View Our Latest Stock Analysis on AAPL

Apple Trading Down 1.9 %

Shares of NASDAQ AAPL opened at $193.12 on Tuesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. The stock has a market capitalization 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. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $199.62. The business has a fifty day moving average price of $180.37 and a 200 day moving average price of $183.39.

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

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were paid a $0.25 dividend. 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 dividend on an annualized basis and a yield of 0.52%. Apple’s dividend payout ratio (DPR) is 15.55%.

Apple declared that its Board of Directors has initiated a share repurchase program on Thursday, May 2nd that allows the company to buyback $110.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the sale, the chief executive officer now directly owns 3,377,407 shares in the company, valued at $574,260,512.21. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the transaction, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 directly owns 4,359,576 shares in the company, valued at $835,207,570.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 346,270 shares of company stock worth $60,880,196. 0.06% of the stock is owned by insiders.

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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