Perkins Coie Trust Co Purchases 741 Shares of Apple Inc. (NASDAQ:AAPL)

Perkins Coie Trust Co increased its position in Apple Inc. (NASDAQ:AAPLFree Report) by 0.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 100,853 shares of the iPhone maker’s stock after purchasing an additional 741 shares during the period. Apple comprises about 4.1% of Perkins Coie Trust Co’s investment portfolio, making the stock its 4th biggest holding. Perkins Coie Trust Co’s holdings in Apple were worth $17,294,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wyrmwood Management LLC raised its position in shares of Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after acquiring an additional 69 shares during the last quarter. Gilfoyle & Co LLC grew its stake in shares of Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares during the period. A.P. Gilfoyle & Co. L.P. bought a new stake in Apple in the fourth quarter valued at about $39,000. University of Texas Texas AM Investment Managment Co. lifted its stake in Apple by 657.1% in the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after buying an additional 368 shares during the period. Finally, Clarity Asset Management Inc. bought a new position in Apple during the fourth quarter worth about $85,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Monness Crespi & Hardt reissued a “buy” rating and set a $205.00 price objective on shares of Apple in a research note on Thursday, June 6th. Melius Research boosted their price target on shares of Apple from $227.00 to $260.00 and gave the company a “buy” rating in a report on Monday, June 24th. JPMorgan Chase & Co. raised their price objective on Apple from $225.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 18th. Maxim Group boosted their target price on Apple from $178.00 to $195.00 and gave the company a “hold” rating in a research note on Tuesday, June 25th. Finally, Barclays reaffirmed an “underweight” rating and set a $164.00 price target on shares of Apple in a research report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.71.

Check Out Our Latest Stock Report on Apple

Apple Price Performance

Shares of NASDAQ AAPL opened at $210.62 on Friday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $220.20. The company has a market cap of $3.23 trillion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 2.60 and a beta of 1.25. The business’s 50 day moving average price is $192.13 and its two-hundred day moving average price is $185.40. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24.

Apple (NASDAQ:AAPLGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The business had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. During the same quarter last year, the firm posted $1.52 EPS. The company’s quarterly revenue was down 4.3% on a year-over-year basis. On average, analysts predict that Apple Inc. will post 6.59 EPS for the current year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.47%. This is a positive change from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio is 15.55%.

Apple declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Apple

In other news, Director Arthur D. Levinson sold 75,000 shares of the company’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 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 available through the SEC website. In other Apple news, 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Timothy D. Cook sold 99,183 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the sale, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. Insiders have sold a total of 346,270 shares of company stock valued at $60,880,196 in the last three months. 0.06% of the stock is currently owned by company insiders.

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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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