Apple Inc. (NASDAQ:AAPL) Shares Acquired by Hartford Funds Management Co LLC

Hartford Funds Management Co LLC grew its position in shares of Apple Inc. (NASDAQ:AAPL) by 8.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,619 shares of the iPhone maker’s stock after buying an additional 1,992 shares during the quarter. Apple makes up about 0.6% of Hartford Funds Management Co LLC’s investment portfolio, making the stock its 10th largest holding. Hartford Funds Management Co LLC’s holdings in Apple were worth $6,165,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Drystone LLC acquired a new stake in Apple in the 4th quarter worth approximately $25,000. SPX Gestao de Recursos Ltda acquired a new stake in Apple in the 3rd quarter worth approximately $71,000. Teachers Insurance & Annuity Association of America acquired a new stake in Apple in the 3rd quarter worth approximately $77,000. Compass Planning Associates Inc acquired a new stake in Apple in the 4th quarter worth approximately $96,000. Finally, Collier Financial acquired a new stake in Apple in the 4th quarter worth approximately $140,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Jeffrey E. Williams sold 35,493 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the transaction, the chief operating officer now owns 390,059 shares of the company’s stock, valued at $87,377,116.59. This represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Katherine L. Adams sold 38,822 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the transaction, the senior vice president now directly owns 179,158 shares in the company, valued at $40,072,269.86. This trade represents a 17.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 191,507 shares of company stock valued at $42,694,080. 0.06% of the stock is currently owned by corporate insiders.

Apple Price Performance

Apple stock opened at $211.45 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The firm has a market cap of $3.16 trillion, a P/E ratio of 33.56, a P/E/G ratio of 2.44 and a beta of 1.27. The business’s fifty day moving average is $206.28 and its two-hundred day moving average is $226.84. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.

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

Apple declared that its board has authorized a stock repurchase plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. This is a positive change from Apple’s previous quarterly dividend of $0.25. Apple’s payout ratio is currently 16.20%.

Analyst Ratings Changes

AAPL has been the subject of several analyst reports. Raymond James reduced their target price on Apple from $250.00 to $230.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. China Renaissance initiated coverage on Apple in a report on Tuesday, April 22nd. They set a “buy” rating and a $241.00 price target for the company. Redburn Partners set a $230.00 price target on Apple in a report on Friday, January 31st. UBS Group cut their price target on Apple from $236.00 to $210.00 and set a “neutral” rating for the company in a report on Wednesday, April 23rd. Finally, Evercore ISI upped their price target on Apple from $260.00 to $275.00 and gave the stock an “outperform” rating in a report on Tuesday, March 18th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $235.80.

About Apple

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.