Steward Partners Investment Solutions LLC Buys New Stake in Apple Inc. (NASDAQ:AAPL)

Steward Partners Investment Solutions LLC purchased a new position in Apple Inc. (NASDAQ:AAPLFree Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 69,469 shares of the iPhone maker’s stock, valued at approximately $13,375,000. Apple comprises approximately 5.6% of Steward Partners Investment Solutions LLC’s holdings, making the stock its 4th largest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in AAPL. Headinvest LLC raised its holdings 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 grew its position in Apple by 16.1% during the fourth quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock valued at $14,461,000 after buying an additional 10,425 shares during the period. DNB Asset Management AS grew its position in Apple by 6.9% during the fourth quarter. DNB Asset Management AS now owns 4,307,068 shares of the iPhone maker’s stock valued at $829,240,000 after buying an additional 279,311 shares during the period. Boltwood Capital Management grew its position in Apple by 2.8% during the fourth quarter. Boltwood Capital Management now owns 37,178 shares of the iPhone maker’s stock valued at $7,158,000 after buying an additional 1,021 shares during the period. Finally, NewEdge Wealth LLC grew its position in Apple by 16.2% during the fourth quarter. NewEdge Wealth LLC now owns 808,709 shares of the iPhone maker’s stock valued at $155,701,000 after buying an additional 112,980 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Activity at Apple

In related news, Director Arthur D. Levinson sold 75,000 shares of the stock in a transaction on 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 transaction, the director now directly owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Arthur D. Levinson sold 75,000 shares of the 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 sale, the director now owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,999 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total transaction of $951,809.60. Following the sale, the insider now owns 29,278 shares of the company’s stock, valued at approximately $5,574,531.20. The disclosure for this sale can be found here. Insiders have sold 346,270 shares of company stock valued at $60,880,196 in the last ninety days. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AAPL. Sanford C. Bernstein upgraded shares of Apple from a “market perform” rating to an “outperform” rating and set a $195.00 price target on the stock in a research report on Monday, April 29th. Rosenblatt Securities reiterated a “neutral” rating and issued a $196.00 target price (up previously from $189.00) on shares of Apple in a research report on Friday, May 3rd. DZ Bank reiterated a “hold” rating and issued a $180.00 target price on shares of Apple in a research report on Thursday, March 28th. Bank of America reiterated a “buy” rating and issued a $230.00 target price on shares of Apple in a research report on Wednesday, May 29th. Finally, Canaccord Genuity Group lifted their target price on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. One equities 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 issued a strong buy rating to the company. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.59.

View Our Latest Analysis on AAPL

Apple Trading Down 1.9 %

Shares of NASDAQ:AAPL opened at $193.12 on Tuesday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $199.62. The company’s 50 day moving average is $180.37 and its two-hundred day moving average is $183.39. 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 $2.96 trillion, a PE ratio of 30.03, a P/E/G ratio of 2.40 and a beta of 1.25.

Apple (NASDAQ:AAPLGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, beating 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 company had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. During the same period in the prior year, the firm posted $1.52 EPS. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. Equities analysts predict 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 program on Thursday, May 2nd that permits the company to repurchase $110.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Apple Increases Dividend

The business 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 dividend yield of 0.52%. This is an increase from Apple’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, May 10th. Apple’s dividend payout ratio (DPR) 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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