Apple Inc. (NASDAQ:AAPL) Holdings Increased by University of Texas Texas AM Investment Management Co.

University of Texas Texas AM Investment Management Co. boosted its position in shares of Apple Inc. (NASDAQ:AAPL) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 109,053 shares of the iPhone maker’s stock after acquiring an additional 6,211 shares during the quarter. Apple accounts for 3.2% of University of Texas Texas AM Investment Management Co.’s portfolio, making the stock its 3rd biggest holding. University of Texas Texas AM Investment Management Co.’s holdings in Apple were worth $27,309,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AAPL. Drystone LLC bought a new stake in Apple during the fourth quarter valued at about $25,000. Life Planning Partners Inc purchased a new stake in Apple during the fourth quarter valued at approximately $47,000. Conquis Financial LLC purchased a new stake in Apple during the fourth quarter valued at approximately $63,000. LSV Asset Management purchased a new stake in Apple during the fourth quarter valued at approximately $65,000. Finally, Pillar Financial Advisors LLC purchased a new stake in shares of Apple in the fourth quarter worth approximately $82,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $196.58 on Thursday. The stock has a fifty day moving average price of $202.17 and a two-hundred day moving average price of $222.30. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The firm has a market cap of $2.94 trillion, a P/E ratio of 30.62, a PEG ratio of 2.18 and a beta of 1.22. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL) last issued its 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. The business had revenue of $95.36 billion during the quarter, compared to analysts’ expectations of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. Apple’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.53 earnings per share. Research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal 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 issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Monday, May 12th. This is an increase from Apple’s previous quarterly dividend of $0.25. Apple’s dividend payout ratio (DPR) is 16.20%.

Apple announced that its board has initiated a stock repurchase program 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 programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. UBS Group restated a “buy” rating on shares of Apple in a report on Sunday, June 1st. Citigroup restated a “buy” rating on shares of Apple in a research note on Tuesday, June 10th. China Renaissance assumed coverage on Apple in a research note on Tuesday, April 22nd. They set a “buy” rating and a $241.00 price objective for the company. Raymond James Financial cut their price target on Apple from $250.00 to $230.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Finally, Tigress Financial boosted their target price on Apple from $295.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Thursday, April 3rd. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $234.86.

Insider Buying and Selling

In related news, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the transaction, the chief financial officer now owns 4,569 shares in the company, valued at $941,214. This trade represents a 50.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the transaction, the insider now owns 15,533 shares in the company, valued at $3,233,815.27. This trade represents a 22.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,507 shares of company stock worth $42,694,080 in the last quarter. 0.06% of the stock is currently owned by company insiders.

Apple 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.