Apple Inc. (NASDAQ:AAPL) is O Shaughnessy Asset Management LLC’s Largest Position

O Shaughnessy Asset Management LLC increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 13.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,670,536 shares of the iPhone maker’s stock after acquiring an additional 197,778 shares during the period. Apple makes up 3.5% of O Shaughnessy Asset Management LLC’s investment portfolio, making the stock its largest holding. O Shaughnessy Asset Management LLC’s holdings in Apple were worth $418,336,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Delos Wealth Advisors LLC boosted its holdings in Apple by 135.3% in the fourth quarter. Delos Wealth Advisors LLC now owns 27,052 shares of the iPhone maker’s stock worth $6,774,000 after acquiring an additional 15,554 shares in the last quarter. Prevail Innovative Wealth Advisors LLC raised its position in shares of Apple by 219.5% in the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 23,791 shares of the iPhone maker’s stock worth $5,958,000 after purchasing an additional 16,345 shares during the last quarter. Bullseye Investment Management LLC bought a new position in Apple in the 4th quarter worth about $352,000. Inkwell Capital LLC purchased a new stake in Apple during the 4th quarter valued at about $4,573,000. Finally, Bcwm LLC bought a new stake in Apple during the 4th quarter valued at about $7,742,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Up 1.6%

AAPL stock opened at $203.92 on Monday. The business’s 50-day moving average price is $201.17 and its 200-day moving average price is $224.12. The stock has a market cap of $3.05 trillion, a P/E ratio of 32.37, a PEG ratio of 2.44 and a beta of 1.22. 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 twelve month low of $169.21 and a twelve month high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.03. The business had revenue of $95.36 billion for 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 revenue for the quarter 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. On average, equities research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Increases Dividend

The company also recently announced 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 is a boost from Apple’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.51%. Apple’s payout ratio is 16.20%.

Apple announced that its Board of Directors has initiated a share 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 purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several analyst reports. UBS Group reiterated a “buy” rating on shares of Apple in a research note on Sunday, June 1st. Jefferies Financial Group reaffirmed an “underperform” rating and issued a $170.62 price objective (up from $167.88) on shares of Apple in a research report on Friday, May 2nd. KeyCorp raised Apple from an “underweight” rating to a “sector weight” rating in a report on Monday, April 14th. China Renaissance assumed coverage on Apple in a report on Tuesday, April 22nd. They set a “buy” rating and a $241.00 price target on the stock. Finally, Evercore ISI increased their price objective on Apple to $250.00 and gave the company a “buy” rating in a research report on Friday. 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 given a strong buy rating to the company. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $235.02.

Insider Activity at Apple

In related news, COO Jeffrey E. Williams sold 35,493 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the transaction, the chief operating officer now directly owns 390,059 shares of the company’s stock, valued at approximately $87,377,116.59. The trade was a 8.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 108,136 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 3,280,295 shares of the company’s stock, valued at $733,637,976.75. The trade was 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. 0.06% of the stock is owned by corporate insiders.

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.