Apple Inc. (NASDAQ:AAPL) Shares Bought by Capital Insight Partners LLC

Capital Insight Partners LLC raised its stake in Apple Inc. (NASDAQ:AAPLFree Report) by 2.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,168 shares of the iPhone maker’s stock after acquiring an additional 1,479 shares during the quarter. Apple makes up 2.1% of Capital Insight Partners LLC’s portfolio, making the stock its 8th biggest holding. Capital Insight Partners LLC’s holdings in Apple were worth $11,175,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Wyrmwood Management LLC grew its position in shares of Apple by 69.0% in 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 period. Gilfoyle & Co LLC grew its position in shares of Apple by 118.0% in 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 period. A.P. Gilfoyle & Co. L.P. purchased a new stake in shares of Apple in the fourth quarter valued at $39,000. University of Texas Texas AM Investment Managment Co. grew its position in shares of 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 purchasing an additional 368 shares during the period. Finally, Clarity Asset Management Inc. purchased a new stake in shares of Apple in the fourth quarter valued at $85,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on AAPL shares. Oppenheimer lifted their price objective on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, June 28th. Bank of America reissued a “buy” rating and set a $230.00 price target on shares of Apple in a research report on Wednesday, June 26th. Erste Group Bank raised Apple from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Rosenblatt Securities raised Apple from a “neutral” rating to a “buy” rating and boosted their price target for the company from $196.00 to $260.00 in a research report on Wednesday, June 26th. 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 equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average price target of $215.71.

Read Our Latest Report on Apple

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 4,999 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $5,574,531.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Luca Maestri sold 53,194 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $18,768,046.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,999 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total value of $951,809.60. Following the transaction, the insider now directly owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The disclosure for this sale can be found here. Insiders have sold 192,355 shares of company stock worth $34,771,329 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Apple Trading Up 2.2 %

Shares of NASDAQ AAPL opened at $226.34 on Friday. The stock’s 50 day moving average price is $197.44 and its two-hundred day moving average price is $186.24. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $226.45. The stock has a market capitalization of $3.47 trillion, a P/E ratio of 35.20, a PEG ratio of 2.69 and a beta of 1.24. 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 data 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 firm had revenue of $90.75 billion for the quarter, compared to analysts’ expectations of $90.37 billion. During the same quarter in the prior year, the firm posted $1.52 earnings per share. Apple’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, analysts anticipate that Apple Inc. will post 6.59 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were paid a dividend of $0.25 per share. The ex-dividend date 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 dividend payout ratio is presently 15.55%.

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

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

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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