Beck Capital Management LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,646 shares of the iPhone maker’s stock after selling 211 shares during the quarter. Beck Capital Management LLC’s holdings in Apple were worth $2,553,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Robinson Value Management Ltd. bought a new position in shares of Apple in the third quarter worth approximately $28,000. St. James Investment Advisors LLC lifted its stake in shares of Apple by 98.3% in the fourth quarter. St. James Investment Advisors LLC now owns 236 shares of the iPhone maker’s stock worth $31,000 after buying an additional 117 shares in the last quarter. Hanseatic Management Services Inc. lifted its stake in shares of Apple by 75.4% in the third quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock worth $34,000 after buying an additional 107 shares in the last quarter. HBC Financial Services PLLC lifted its stake in shares of Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares in the last quarter. Finally, Align Wealth Management LLC bought a new position in shares of Apple in the fourth quarter worth approximately $55,000. Hedge funds and other institutional investors own 57.60% of the company’s stock.
Apple Price Performance
AAPL stock opened at $183.31 on Wednesday. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $184.95. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.56. The company has a fifty day simple moving average of $171.36 and a two-hundred day simple moving average of $154.41. The firm has a market capitalization of $2.88 trillion, a P/E ratio of 31.12, a price-to-earnings-growth ratio of 2.42 and a beta of 1.29.
Apple Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Monday, May 15th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Friday, May 12th. This is a positive change from Apple’s previous quarterly dividend of $0.23. Apple’s dividend payout ratio (DPR) is 16.30%.
Apple declared that its board has approved a share repurchase plan on Thursday, May 4th that allows the company to buyback $90.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to buy up to 3.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on AAPL. Atlantic Securities upped their target price on shares of Apple from $180.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, May 5th. Monness Crespi & Hardt increased their price objective on shares of Apple from $174.00 to $188.00 and gave the company a “buy” rating in a research report on Friday, May 5th. StockNews.com initiated coverage on shares of Apple in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Apple from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, May 5th. Finally, Morgan Stanley increased their price objective on shares of Apple from $185.00 to $190.00 in a research report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average target price of $177.40.
Insider Transactions at Apple
In other news, insider Chris Kondo sold 4,092 shares of the firm’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $173.26, for a total value of $708,979.92. Following the completion of the sale, the insider now owns 33,946 shares in the company, valued at approximately $5,881,483.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Chris Kondo sold 4,092 shares of Apple stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $173.26, for a total transaction of $708,979.92. Following the completion of the sale, the insider now owns 33,946 shares in the company, valued at approximately $5,881,483.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Deirdre O’brien sold 43,622 shares of Apple stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $165.41, for a total transaction of $7,215,515.02. Following the sale, the senior vice president now owns 136,444 shares of the company’s stock, valued at approximately $22,569,202.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 439,529 shares of company stock worth $71,703,657. 0.06% of the stock is currently owned by insiders.
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.
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