Apple Inc. (NASDAQ:AAPL) Stock Position Increased by United Community Bank

United Community Bank grew its stake in Apple Inc. (NASDAQ:AAPL) by 3.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,836 shares of the iPhone maker’s stock after buying an additional 602 shares during the quarter. Apple accounts for about 1.9% of United Community Bank’s portfolio, making the stock its 5th largest holding. United Community Bank’s holdings in Apple were worth $4,967,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of AAPL. Crossmark Global Holdings Inc. raised its holdings in Apple by 5.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 893,993 shares of the iPhone maker’s stock worth $208,301,000 after purchasing an additional 48,053 shares during the period. Maiden Cove Capital LLC acquired a new position in Apple in the 3rd quarter worth about $2,356,000. Stockman Wealth Management Inc. raised its holdings in Apple by 1.3% in the 3rd quarter. Stockman Wealth Management Inc. now owns 102,466 shares of the iPhone maker’s stock worth $23,875,000 after purchasing an additional 1,357 shares during the period. 1900 Wealth Management LLC raised its holdings in Apple by 2.3% in the 3rd quarter. 1900 Wealth Management LLC now owns 29,894 shares of the iPhone maker’s stock worth $6,965,000 after purchasing an additional 672 shares during the period. Finally, Ashton Thomas Securities LLC raised its holdings in shares of Apple by 25.8% during the third quarter. Ashton Thomas Securities LLC now owns 35,109 shares of the iPhone maker’s stock valued at $8,180,000 after acquiring an additional 7,196 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. China Renaissance assumed coverage on Apple in a report on Tuesday, April 22nd. They set a “buy” rating and a $241.00 target price for the company. Citigroup reissued a “cautious” rating on shares of Apple in a report on Monday, May 5th. Bank of America reduced their target price on Apple from $250.00 to $240.00 and set a “buy” rating for the company in a report on Thursday, April 24th. The Goldman Sachs Group reduced their target price on Apple from $259.00 to $256.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Finally, Oppenheimer cut Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $235.80.

Insider Activity

In related news, COO Jeffrey E. Williams sold 35,493 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were 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 in the company, valued at $87,377,116.59. This represents a 8.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the sale, the chief executive officer now directly owns 3,280,295 shares of the company’s stock, valued at $733,637,976.75. This represents a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 191,507 shares of company stock worth $42,694,080. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL opened at $211.26 on Friday. The stock has a market cap of $3.16 trillion, a price-to-earnings ratio of 33.53, a PEG ratio of 2.44 and a beta of 1.27. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock has a fifty day moving average price of $206.09 and a 200 day moving average price of $226.66.

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

Apple Increases Dividend

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

Apple declared that its Board of Directors has authorized a stock repurchase program on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

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.