Apple Inc. (NASDAQ:AAPL) Shares Acquired by Allie Family Office LLC

Allie Family Office LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,631 shares of the iPhone maker’s stock after acquiring an additional 150 shares during the quarter. Allie Family Office LLC’s holdings in Apple were worth $907,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Drystone LLC acquired a new position in shares of Apple during the fourth quarter worth about $25,000. SPX Gestao de Recursos Ltda acquired a new position in Apple during the third quarter worth about $71,000. Pillar Financial Advisors LLC acquired a new position in Apple during the fourth quarter worth about $82,000. Compass Planning Associates Inc acquired a new position in Apple during the fourth quarter worth about $96,000. Finally, Collier Financial acquired a new position in Apple during the fourth quarter worth about $140,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. UBS Group restated a “buy” rating on shares of Apple in a research report on Sunday, June 1st. Barclays reduced their price target on shares of Apple from $197.00 to $173.00 and set an “underweight” rating on the stock in a report on Wednesday, April 30th. Citigroup reaffirmed a “buy” rating on shares of Apple in a report on Tuesday. China Renaissance began coverage on shares of Apple in a report on Tuesday, April 22nd. They issued a “buy” rating and a $241.00 price target on the stock. Finally, Evercore ISI upped their price target on shares of Apple to $250.00 and gave the company a “buy” rating in a report on Friday, June 6th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $234.86.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 4,486 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider now owns 15,533 shares of the company’s stock, valued at $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the sale, the chief executive officer now directly 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 position. The disclosure for this sale can be found here. Insiders sold 191,507 shares of company stock valued at $42,694,080 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $202.67 on Wednesday. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. 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 company has a 50 day moving average price of $200.71 and a 200 day moving average price of $223.77. The firm has a market capitalization of $3.03 trillion, a price-to-earnings ratio of 32.17, a price-to-earnings-growth ratio of 2.44 and a beta of 1.22.

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

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.51%. This is a positive change from Apple’s previous quarterly dividend of $0.25. Apple’s dividend payout ratio is presently 16.20%.

Apple announced that its board has authorized a share buyback plan on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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.