Apple Inc. (NASDAQ:AAPL) Stake Raised by Nelson Capital Management LLC

Nelson Capital Management LLC raised its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,935 shares of the iPhone maker’s stock after buying an additional 1,726 shares during the quarter. Apple comprises 4.1% of Nelson Capital Management LLC’s portfolio, making the stock its 3rd biggest holding. Nelson Capital Management LLC’s holdings in Apple were worth $25,026,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Drystone LLC bought a new stake in Apple during the fourth quarter worth approximately $25,000. SPX Gestao de Recursos Ltda purchased a new position in shares of Apple in the 3rd quarter worth approximately $71,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Apple during the 3rd quarter valued at approximately $77,000. Compass Planning Associates Inc purchased a new stake in Apple during the 4th quarter valued at $96,000. Finally, ARK Investment Management LLC bought a new stake in Apple in the third quarter worth $110,000. Institutional investors own 67.73% of the company’s stock.

Apple Stock Down 3.1 %

AAPL stock opened at $198.89 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The stock has a market capitalization of $2.99 trillion, a PE ratio of 31.57, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. The firm has a 50 day moving average of $211.32 and a 200 day moving average of $228.33.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.53 earnings per share. Sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 12th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. This is a boost from Apple’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, May 12th. Apple’s dividend payout ratio (DPR) is presently 16.20%.

Insider Buying and Selling

In other Apple news, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the sale, the chief financial officer now directly owns 4,569 shares in the company, valued at approximately $941,214. The trade was a 50.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 38,822 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the sale, the senior vice president now owns 179,158 shares in the company, valued at $40,072,269.86. The trade was a 17.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 187,021 shares of company stock valued at $41,760,140 over the last quarter. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AAPL shares. China Renaissance assumed coverage on shares of Apple in a research report on Tuesday, April 22nd. They set a “buy” rating and a $241.00 price objective on the stock. Jefferies Financial Group reissued an “underperform” rating and issued a $170.62 price objective (up from $167.88) on shares of Apple in a research report on Friday. Evercore ISI boosted their target price on Apple from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Tuesday, March 18th. Scotiabank downgraded Apple to a “market perform” rating in a report on Friday. Finally, Citigroup decreased their price target on Apple from $275.00 to $245.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $235.80.

Apple Company Profile

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.