Atwater Malick LLC boosted its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 102,669 shares of the iPhone maker’s stock after purchasing an additional 1,696 shares during the quarter. Apple comprises 6.6% of Atwater Malick LLC’s holdings, making the stock its biggest position. Atwater Malick LLC’s holdings in Apple were worth $13,340,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Auto Owners Insurance Co bought a new stake in shares of Apple in the 4th quarter valued at about $3,248,000. BOS Asset Management LLC bought a new stake in shares of Apple in the 4th quarter valued at about $4,459,000. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Apple by 12.6% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,103 shares of the iPhone maker’s stock valued at $143,000 after acquiring an additional 123 shares during the last quarter. Freedom Wealth Alliance LLC bought a new stake in shares of Apple in the 4th quarter valued at about $2,082,000. Finally, RF&L Wealth Management LLC bought a new stake in shares of Apple in the 4th quarter valued at about $4,595,000. 57.60% of the stock is owned by institutional investors.
Apple Trading Down 0.3 %
Shares of Apple stock opened at $183.31 on Wednesday. The business has a fifty day simple moving average of $171.36 and a two-hundred day simple moving average of $154.41. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $184.95. The company has a market capitalization of $2.88 trillion, a price-to-earnings ratio of 31.12, a P/E/G ratio of 2.42 and a beta of 1.29. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.94 and a quick ratio of 0.88.
Apple declared that its board has authorized a stock repurchase program on Thursday, May 4th that permits the company to buyback $90.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Apple Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Shareholders of record on Monday, May 15th were issued a dividend of $0.24 per share. This is an increase from Apple’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, May 12th. This represents a $0.96 annualized dividend and a yield of 0.52%. Apple’s dividend payout ratio (DPR) is currently 16.30%.
Insider Buying and Selling at Apple
In other Apple news, insider Chris Kondo sold 4,092 shares of the firm’s stock in a transaction on Monday, May 8th. The stock was 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 of the company’s stock, valued at approximately $5,881,483.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Apple news, insider Chris Kondo sold 4,092 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $173.26, for a total transaction of $708,979.92. Following the transaction, 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 can be accessed through this link. Also, COO Jeffrey E. Williams sold 187,730 shares of the stock in a transaction on Wednesday, March 22nd. The stock was sold at an average price of $159.76, for a total value of $29,991,744.80. Following the transaction, the chief operating officer now owns 489,816 shares in the company, valued at approximately $78,253,004.16. The disclosure for this sale can be found here. Insiders sold 439,529 shares of company stock valued at $71,703,657 in the last quarter. 0.06% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. Wedbush reaffirmed an “outperform” rating and issued a $205.00 price target on shares of Apple in a research note on Monday, April 17th. Morgan Stanley increased their target price on Apple from $185.00 to $190.00 in a research note on Friday, June 2nd. Evercore ISI increased their target price on Apple from $190.00 to $210.00 and gave the stock an “outperform” rating in a research note on Monday, June 5th. Piper Sandler lowered their target price on Apple from $195.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, May 5th. Finally, Wells Fargo & Company increased their target price on Apple from $185.00 to $210.00 in a research note on Tuesday, June 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $177.40.
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.
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