ST Germain D J Co. Inc. raised its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 21.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 729,721 shares of the iPhone maker’s stock after purchasing an additional 128,587 shares during the quarter. Apple accounts for approximately 7.0% of ST Germain D J Co. Inc.’s portfolio, making the stock its 2nd largest position. ST Germain D J Co. Inc.’s holdings in Apple were worth $20,752,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Robinson Value Management Ltd. bought a new stake in shares of Apple in the 3rd quarter worth $28,000. St. James Investment Advisors LLC grew its stake in shares of Apple by 98.3% in the 4th quarter. St. James Investment Advisors LLC now owns 236 shares of the iPhone maker’s stock worth $31,000 after acquiring an additional 117 shares in the last quarter. Hanseatic Management Services Inc. grew its stake in shares of Apple by 75.4% in the 3rd quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock worth $34,000 after acquiring an additional 107 shares in the last quarter. Cheyne Capital Management UK LLP grew its stake in shares of Apple by 200.0% in the 3rd quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $212,000 after acquiring an additional 550 shares in the last quarter. Finally, Align Wealth Management LLC bought a new stake in shares of Apple in the 4th quarter worth $55,000. Institutional investors own 57.60% of the company’s stock.
Apple Stock Performance
NASDAQ:AAPL opened at $184.92 on Friday. The firm has a market cap of $2.91 trillion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 2.46 and a beta of 1.29. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $186.99. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.88 and a current ratio of 0.94. The business has a 50 day moving average price of $172.60 and a 200-day moving average price of $155.12.
Apple Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Monday, May 15th were paid a $0.24 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.23. The ex-dividend date was Friday, May 12th. This represents a $0.96 dividend on an annualized basis and a yield of 0.52%. Apple’s dividend payout ratio (DPR) is presently 16.30%.
Apple declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 4th that permits the company to buyback $90.00 billion in shares. This buyback authorization permits the iPhone maker to reacquire up to 3.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. UBS Group downgraded shares of Apple from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $180.00 to $190.00 in a report on Monday, June 12th. Atlantic Securities boosted their price target on shares of Apple from $180.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, May 5th. Needham & Company LLC boosted their price target on shares of Apple from $170.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Bank of America boosted their price target on shares of Apple from $176.00 to $190.00 in a report on Monday, June 5th. Finally, Rosenblatt Securities upped their price objective on shares of Apple from $173.00 to $198.00 and gave the company a “buy” rating in a report on Friday, May 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $177.40.
Insider Buying and Selling
In related 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 value of $708,979.92. Following the completion of the sale, the insider now owns 33,946 shares of the company’s stock, valued at $5,881,483.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apple news, COO Jeffrey E. Williams sold 77,817 shares of the firm’s stock in a transaction on Tuesday, April 4th. The stock was sold at an average price of $166.11, for a total transaction of $12,926,181.87. Following the completion of the transaction, the chief operating officer now owns 489,816 shares of the company’s stock, valued at $81,363,335.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Kondo sold 4,092 shares of the firm’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $173.26, for a total value of $708,979.92. Following the transaction, the insider now directly owns 33,946 shares of the company’s stock, valued at approximately $5,881,483.96. The disclosure for this sale can be found here. Insiders sold 439,529 shares of company stock valued at $71,703,657 over the last quarter. 0.06% of the stock is owned by company insiders.
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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