Flower City Capital Has $2.49 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Flower City Capital lifted its stake in Apple Inc. (NASDAQ:AAPL) by 15.2% in the 4th quarter, HoldingsChannel reports. The fund owned 12,949 shares of the iPhone maker’s stock after purchasing an additional 1,704 shares during the quarter. Apple comprises 1.9% of Flower City Capital’s investment portfolio, making the stock its 10th largest position. Flower City Capital’s holdings in Apple were worth $2,493,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Apple by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after acquiring an additional 8,734,393 shares in the last quarter. Moneta Group Investment Advisors LLC increased its position in Apple by 116,483.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock valued at $74,002,245,000 after buying an additional 569,066,184 shares in the last quarter. Geode Capital Management LLC increased its position in Apple by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 291,538,165 shares of the iPhone maker’s stock valued at $56,396,763,000 after buying an additional 6,367,053 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Apple by 3.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 234,017,381 shares of the iPhone maker’s stock valued at $38,589,468,000 after buying an additional 7,736,013 shares in the last quarter. Finally, Morgan Stanley increased its position in Apple by 14.2% during the 4th quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock valued at $27,110,586,000 after buying an additional 25,926,552 shares in the last quarter. 60.41% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the transaction, the director now owns 4,434,576 shares in the company, valued at $802,392,181.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the transaction, the director now owns 4,434,576 shares in the company, valued at $802,392,181.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 53,194 shares of the stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $18,768,046.56. The disclosure for this sale can be found here. Insiders have sold a total of 366,271 shares of company stock worth $63,653,887 over the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Performance

NASDAQ AAPL opened at $172.69 on Tuesday. The company has a market cap of $2.67 trillion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 2.13 and a beta of 1.27. The stock’s 50 day simple moving average is $176.40 and its 200-day simple moving average is $182.32. Apple Inc. has a 1-year low of $162.80 and a 1-year high of $199.62. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.09. The business had revenue of $119.60 billion for the quarter, compared to the consensus estimate of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.88 earnings per share. As a group, equities research analysts anticipate that Apple Inc. will post 6.55 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders 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 dividend yield of 0.56%. Apple’s dividend payout ratio (DPR) is presently 14.95%.

Wall Street Analyst Weigh In

AAPL has been the topic of several recent analyst reports. Loop Capital reduced their target price on Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. Redburn Partners lowered Apple to a “neutral” rating and set a $200.00 target price on the stock. in a research report on Wednesday, January 10th. The Goldman Sachs Group increased their price objective on Apple from $223.00 to $232.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Redburn Atlantic lowered Apple from a “buy” rating to a “neutral” rating and set a $200.00 price objective on the stock. in a report on Wednesday, January 10th. Finally, Wedbush reissued an “outperform” rating and issued a $250.00 price objective on shares of Apple in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $204.08.

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.