Apple Inc. (NASDAQ:AAPL) is Register Financial Advisors LLC’s 2nd Largest Position

Register Financial Advisors LLC boosted its stake in Apple Inc. (NASDAQ:AAPLFree Report) by 7.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,212 shares of the iPhone maker’s stock after buying an additional 2,398 shares during the period. Apple accounts for approximately 2.9% of Register Financial Advisors LLC’s portfolio, making the stock its 2nd largest position. Register Financial Advisors LLC’s holdings in Apple were worth $5,695,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wyrmwood Management LLC lifted its holdings in shares of Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after purchasing an additional 69 shares during the last quarter. A.P. Gilfoyle & Co. L.P. purchased a new position in shares of Apple during the fourth quarter valued at approximately $39,000. Gilfoyle & Co LLC lifted its holdings in shares of Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after purchasing an additional 118 shares during the last quarter. University of Texas Texas AM Investment Managment Co. lifted its holdings in shares of Apple by 657.1% during 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 purchasing an additional 368 shares during the last quarter. Finally, Clarity Asset Management Inc. purchased a new position in shares of Apple during the fourth quarter valued at approximately $85,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the business’s 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 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 filing with the SEC, which can be accessed through the SEC website. In other news, COO Jeffrey E. Williams sold 59,162 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $172.22, for a total value of $10,188,879.64. Following the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $84,378,155.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was 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 $835,207,570.08. The disclosure for this sale can be found here. Insiders have sold a total of 192,355 shares of company stock worth $34,771,329 in the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Up 2.2 %

AAPL opened at $226.34 on Friday. 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 Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $226.45. The firm’s fifty day moving average is $197.44 and its 200 day moving average is $186.24. The stock has a market cap of $3.47 trillion, a price-to-earnings ratio of 35.20, a price-to-earnings-growth ratio of 2.69 and a beta of 1.24.

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

Apple announced that its board has authorized a share repurchase program on Thursday, May 2nd that allows the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Apple Increases Dividend

The business 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 of this dividend was Friday, May 10th. This represents a $1.00 annualized dividend and a yield of 0.44%. This is a boost from Apple’s previous quarterly dividend of $0.24. Apple’s payout ratio is presently 15.55%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Melius Research lifted their target price 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 target on shares of Apple from $225.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, June 18th. Canaccord Genuity Group raised their price target 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. Sanford C. Bernstein raised their price target on shares of Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. Finally, Morgan Stanley reissued an “overweight” rating and set a $216.00 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 issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average price target of $215.71.

Get Our Latest Analysis on AAPL

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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