Apple Inc. (NASDAQ:AAPL) Shares Purchased by CX Institutional

CX Institutional lifted its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 5.3% in the fourth quarter, Holdings Channel reports. The firm owned 83,700 shares of the iPhone maker’s stock after acquiring an additional 4,219 shares during the period. CX Institutional’s holdings in Apple were worth $10,875,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in AAPL. Robinson Value Management Ltd. acquired a new stake in Apple during the 3rd quarter worth approximately $28,000. Hanseatic Management Services Inc. lifted its position in Apple by 75.4% during 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 during the period. HBC Financial Services PLLC raised its stake in shares of Apple by 21.7% during the 1st 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. Align Wealth Management LLC purchased a new position in shares of Apple during the 4th quarter worth approximately $55,000. Finally, PayPay Securities Corp purchased a new position in shares of Apple during the 4th quarter worth approximately $60,000. 57.60% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

AAPL stock opened at $172.69 on Thursday. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $176.15. The stock’s fifty day simple moving average is $163.82 and its 200-day simple moving average is $150.26. 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 stock has a market capitalization of $2.72 trillion, a price-to-earnings ratio of 29.32, a price-to-earnings-growth ratio of 2.30 and a beta of 1.29.

Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings data on Thursday, May 4th. The iPhone maker reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.08. Apple had a return on equity of 165.72% and a net margin of 24.49%. The business had revenue of $94.84 billion for the quarter, compared to analysts’ expectations of $92.84 billion. During the same quarter last year, the firm earned $1.52 earnings per share. The business’s revenue was down 2.5% on a year-over-year basis. Equities research analysts expect that Apple Inc. will post 5.99 EPS for the current year.

Apple declared that its board has approved a stock repurchase plan on Thursday, May 4th that authorizes the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 18th. Investors of record on Monday, May 15th will be issued a $0.24 dividend. The ex-dividend date is Friday, May 12th. This represents a $0.96 dividend on an annualized basis and a yield of 0.56%. This is a boost from Apple’s previous quarterly dividend of $0.23. Apple’s dividend payout ratio (DPR) is presently 16.30%.

Insider Activity at Apple

In related news, COO Jeffrey E. Williams sold 187,730 shares of Apple 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 $78,253,004.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Jeffrey E. Williams sold 187,730 shares of Apple 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 $78,253,004.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Deirdre O’brien sold 43,622 shares of the firm’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $165.41, for a total value of $7,215,515.02. Following the completion of the transaction, the senior vice president now directly owns 136,444 shares in the company, valued at $22,569,202.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 439,529 shares of company stock worth $71,703,657. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AAPL shares. National Bank Financial cut their target price on Apple to $54.00 and set an “outperform” rating for the company in a research note on Friday, January 20th. DA Davidson increased their target price on Apple from $173.00 to $193.00 and gave the stock a “buy” rating in a research note on Friday, May 5th. Wedbush reissued an “outperform” rating and set a $205.00 target price on shares of Apple in a research note on Monday, April 17th. UBS Group set a $180.00 target price on Apple in a research note on Monday, April 3rd. Finally, KeyCorp raised their price objective on Apple from $177.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $174.74.

Apple Company Profile

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Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.