AMI Asset Management Corp Has $107.14 Million Stake in Apple Inc. (NASDAQ:AAPL)

AMI Asset Management Corp lifted its stake in Apple Inc. (NASDAQ:AAPL) by 0.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 556,466 shares of the iPhone maker’s stock after acquiring an additional 1,517 shares during the period. Apple comprises about 5.9% of AMI Asset Management Corp’s holdings, making the stock its biggest position. AMI Asset Management Corp’s holdings in Apple were worth $107,136,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Atlantic Private Wealth LLC bought a new position in Apple during the first quarter worth about $30,000. Wyrmwood Management LLC lifted its stake in Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 69 shares during the period. Gilfoyle & Co LLC lifted its stake in Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares during the period. Summit Wealth Group LLC lifted its stake in Apple by 16,252.3% during the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 6,949,659 shares during the period. Finally, HBC Financial Services PLLC lifted its stake in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares during the period. Institutional investors own 60.41% of the company’s stock.

Apple Trading Down 0.8 %

Shares of NASDAQ AAPL opened at $168.00 on Thursday. The company’s fifty day moving average is $175.57 and its 200-day moving average is $182.21. The stock has a market cap of $2.59 trillion, a price-to-earnings ratio of 26.17, a P/E/G ratio of 2.08 and a beta of 1.27. Apple Inc. has a twelve month low of $162.80 and a twelve month high of $199.62. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. The company had revenue of $119.60 billion for the quarter, compared to analysts’ expectations of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $1.88 earnings per share. Equities research analysts predict that Apple Inc. will post 6.54 EPS for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were given a $0.24 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.96 annualized dividend and a yield of 0.57%. Apple’s dividend payout ratio is currently 14.95%.

Insider Buying and Selling at Apple

In other Apple news, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the sale, the director now directly owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Apple news, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the sale, the director now directly owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares in the company, valued at $574,260,512.21. The disclosure for this sale can be found here. In the last three months, insiders have sold 366,271 shares of company stock worth $63,653,887. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on AAPL shares. Barclays cut their price target on shares of Apple from $160.00 to $158.00 and set an “underweight” rating for the company in a research note on Friday, February 2nd. Wedbush reaffirmed an “outperform” rating and set a $250.00 price objective on shares of Apple in a report on Tuesday, April 9th. Loop Capital dropped their price objective on shares of Apple from $185.00 to $170.00 and set a “hold” rating for the company in a report on Monday, April 1st. Oppenheimer reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Apple in a report on Friday, February 2nd. Finally, Piper Sandler Companies lowered shares of Apple to a “neutral” rating and dropped their price objective for the stock from $220.00 to $205.00 in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $203.34.

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.