Arjuna Capital Has $17.90 Million Position in Apple Inc. (NASDAQ:AAPL)

Arjuna Capital lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 3.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,759 shares of the iPhone maker’s stock after buying an additional 5,024 shares during the quarter. Apple comprises 8.3% of Arjuna Capital’s investment portfolio, making the stock its biggest position. Arjuna Capital’s holdings in Apple were worth $17,899,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Kentucky Retirement Systems raised its stake in Apple by 0.4% in the fourth quarter. Kentucky Retirement Systems now owns 1,187,695 shares of the iPhone maker’s stock valued at $154,317,000 after purchasing an additional 5,188 shares in the last quarter. Mattern Wealth Management LLC grew its stake in shares of Apple by 13.5% during the fourth quarter. Mattern Wealth Management LLC now owns 94,592 shares of the iPhone maker’s stock valued at $12,290,000 after buying an additional 11,274 shares during the last quarter. GYL Financial Synergies LLC grew its stake in shares of Apple by 5.9% during the fourth quarter. GYL Financial Synergies LLC now owns 118,252 shares of the iPhone maker’s stock valued at $15,364,000 after buying an additional 6,614 shares during the last quarter. Compass Financial Advisors LLC grew its stake in shares of Apple by 0.8% during the fourth quarter. Compass Financial Advisors LLC now owns 21,819 shares of the iPhone maker’s stock valued at $2,835,000 after buying an additional 181 shares during the last quarter. Finally, Intrepid Capital Management Inc. grew its stake in shares of Apple by 64.1% during the fourth quarter. Intrepid Capital Management Inc. now owns 8,304 shares of the iPhone maker’s stock valued at $1,079,000 after buying an additional 3,245 shares during the last quarter. 57.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 187,730 shares of the firm’s stock in a transaction that occurred on Wednesday, March 22nd. The shares were sold at an average price of $159.76, for a total value of $29,991,744.80. Following the sale, the chief operating officer now owns 489,816 shares in the company, valued at $78,253,004.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Apple news, SVP Deirdre O’brien sold 43,622 shares of the stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $165.41, for a total value of $7,215,515.02. Following the transaction, the senior vice president now owns 136,444 shares of the company’s stock, valued at $22,569,202.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 187,730 shares of the stock in a transaction dated Wednesday, March 22nd. The shares were sold at an average price of $159.76, for a total value of $29,991,744.80. Following the completion of the transaction, the chief operating officer now directly owns 489,816 shares in the company, valued at approximately $78,253,004.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 439,529 shares of company stock worth $71,703,657. 0.06% of the stock is owned by insiders.

Apple Price Performance

NASDAQ AAPL opened at $174.20 on Tuesday. Apple Inc. has a one year low of $124.17 and a one year high of $176.39. The stock has a 50-day moving average of $165.32 and a 200 day moving average of $150.87. The company has a market capitalization of $2.74 trillion, a price-to-earnings ratio of 29.58, a PEG ratio of 2.34 and a beta of 1.29. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.88 and a current ratio of 0.94.

Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings data on Thursday, May 4th. The iPhone maker reported $1.52 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 company had revenue of $94.84 billion during the quarter, compared to the consensus estimate of $92.84 billion. During the same period last year, the company earned $1.52 EPS. Apple’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, sell-side analysts forecast that Apple Inc. will post 5.99 EPS for the current year.

Apple declared that its Board of Directors has authorized a stock buyback program on Thursday, May 4th that allows the company to buyback $90.00 billion in outstanding shares. This buyback authorization allows 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 stock is undervalued.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Monday, May 15th were issued a $0.24 dividend. The ex-dividend date was Friday, May 12th. This represents a $0.96 annualized dividend and a yield of 0.55%. This is a boost from Apple’s previous quarterly dividend of $0.23. Apple’s dividend payout ratio (DPR) is currently 16.30%.

Analyst Ratings Changes

AAPL has been the subject of a number of analyst reports. Jefferies Financial Group reissued a “buy” rating and set a $195.00 price objective on shares of Apple in a research note on Thursday, March 2nd. Morgan Stanley upped their price objective on shares of Apple from $180.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, May 5th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Apple from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, May 5th. Cowen lowered their price objective on shares of Apple from $200.00 to $195.00 and set an “outperform” rating for the company in a research note on Friday, February 3rd. Finally, UBS Group set a $180.00 target price on Apple in a research note on Monday, April 3rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.