Apple Inc. (NASDAQ:AAPL) is Meeder Asset Management Inc.’s 5th Largest Position

Meeder Asset Management Inc. lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 12.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 297,580 shares of the iPhone maker’s stock after buying an additional 32,884 shares during the quarter. Apple accounts for approximately 5.2% of Meeder Asset Management Inc.’s holdings, making the stock its 5th largest holding. Meeder Asset Management Inc.’s holdings in Apple were worth $74,520,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Drystone LLC bought a new stake in shares of Apple during the 4th quarter valued at about $25,000. Life Planning Partners Inc bought a new position in shares of Apple during the fourth quarter valued at approximately $47,000. SPX Gestao de Recursos Ltda bought a new position in shares of Apple during the third quarter valued at approximately $71,000. Pillar Financial Advisors LLC acquired a new stake in shares of Apple during the 4th quarter worth approximately $82,000. Finally, Compass Planning Associates Inc acquired a new position in Apple during the 4th quarter valued at approximately $96,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

Shares of AAPL opened at $203.92 on Monday. The stock has a market capitalization of $3.05 trillion, a price-to-earnings ratio of 32.37, a PEG ratio of 2.44 and a beta of 1.22. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The firm has a fifty day simple moving average of $201.17 and a 200 day simple moving average of $224.12. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.

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 during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.53 EPS. Research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. This is an increase from Apple’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple’s dividend payout ratio (DPR) is currently 16.20%.

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

Analysts Set New Price Targets

A number of analysts recently weighed in on AAPL shares. UBS Group reaffirmed a “buy” rating on shares of Apple in a report on Sunday, June 1st. Needham & Company LLC restated a “hold” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, June 4th. Barclays cut their price target on Apple from $197.00 to $173.00 and set an “underweight” rating on the stock in a report on Wednesday, April 30th. Loop Capital reduced their price objective on Apple from $230.00 to $215.00 and set a “hold” rating for the company in a research report on Wednesday, April 30th. Finally, China Renaissance began coverage on Apple in a report on Tuesday, April 22nd. They issued a “buy” rating and a $241.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $235.02.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 4,486 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider now directly owns 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction 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 owns 4,569 shares of the company’s stock, valued at approximately $941,214. This represents a 50.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,507 shares of company stock valued at $42,694,080 in the last 90 days. 0.06% of the stock is currently owned by insiders.

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.