Apple Inc. (NASDAQ:AAPL) is James J. Burns & Company LLC’s 4th Largest Position

James J. Burns & Company LLC increased its stake in Apple Inc. (NASDAQ:AAPL) by 0.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 116,402 shares of the iPhone maker’s stock after purchasing an additional 280 shares during the quarter. Apple comprises about 4.6% of James J. Burns & Company LLC’s holdings, making the stock its 4th largest position. James J. Burns & Company LLC’s holdings in Apple were worth $25,856,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in AAPL. Norges Bank purchased a new position in Apple during the fourth quarter worth about $46,868,648,000. GAMMA Investing LLC grew its position in Apple by 25,934.1% during the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock worth $133,425,490,000 after buying an additional 59,835,676 shares in the last quarter. Vanguard Group Inc. grew its position in Apple by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker’s stock worth $349,532,608,000 after buying an additional 49,168,843 shares in the last quarter. Proficio Capital Partners LLC grew its position in Apple by 23,555.4% during the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker’s stock worth $5,272,653,000 after buying an additional 20,966,232 shares in the last quarter. Finally, Northern Trust Corp grew its position in Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after buying an additional 20,079,472 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 4,486 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the transaction, the insider now owns 15,533 shares of the company’s stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 35,493 shares of the 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 completion of the transaction, the chief operating officer now directly owns 390,059 shares of the company’s stock, valued at $87,377,116.59. This represents a 8.34% 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 in the last 90 days. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AAPL shares. TD Cowen cut their price objective on Apple from $290.00 to $275.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a report on Tuesday, June 10th. Morgan Stanley reiterated an “overweight” rating on shares of Apple in a report on Friday, June 13th. DA Davidson upped their price objective on Apple from $230.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Finally, Bank of America reiterated a “buy” rating and issued a $235.00 price objective on shares of Apple in a report on Tuesday, June 10th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $234.86.

Apple Trading Up 0.6%

AAPL opened at $201.56 on Thursday. The business has a 50 day simple moving average of $202.44 and a two-hundred day simple moving average of $220.85. The firm has a market capitalization of $3.01 trillion, a price-to-earnings ratio of 31.40, a PEG ratio of 2.24 and a beta of 1.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. Apple Inc. has a one year low of $169.21 and a one year high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.03. The business had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. Apple’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.53 EPS. Analysts predict that Apple Inc. will post 7.28 EPS for the current year.

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

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a dividend of $0.26 per share. This is a positive change from Apple’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. Apple’s dividend payout ratio is presently 16.20%.

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.