Apple Inc. (NASDAQ:AAPL) is Flower City Capital’s 10th Largest Position

Flower City Capital increased its holdings in Apple Inc. (NASDAQ:AAPL) by 15.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,949 shares of the iPhone maker’s stock after acquiring an additional 1,704 shares during the quarter. Apple comprises approximately 1.9% of Flower City Capital’s portfolio, making the stock its 10th biggest position. Flower City Capital’s holdings in Apple were worth $2,493,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kingdom Financial Group LLC. lifted its stake in Apple by 5.5% in the third quarter. Kingdom Financial Group LLC. now owns 11,464 shares of the iPhone maker’s stock worth $1,963,000 after acquiring an additional 598 shares during the period. RFG Advisory LLC lifted its stake in Apple by 13.6% in the third quarter. RFG Advisory LLC now owns 172,823 shares of the iPhone maker’s stock worth $29,589,000 after acquiring an additional 20,737 shares during the period. Headinvest LLC lifted its stake in Apple by 1.7% in the third quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock worth $9,236,000 after acquiring an additional 872 shares during the period. Tsfg LLC lifted its stake in Apple by 2.2% in the third quarter. Tsfg LLC now owns 50,943 shares of the iPhone maker’s stock worth $8,722,000 after acquiring an additional 1,091 shares during the period. Finally, Sound Income Strategies LLC raised its holdings in Apple by 16.1% in the fourth quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock worth $14,461,000 after purchasing an additional 10,425 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AAPL. UBS Group reiterated a “hold” rating and issued a $190.00 price objective on shares of Apple in a report on Monday, March 25th. Piper Sandler decreased their price objective on Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. Wedbush reiterated an “outperform” rating and issued a $250.00 price objective on shares of Apple in a report on Tuesday, April 9th. Citigroup reiterated a “buy” rating and issued a $225.00 price objective on shares of Apple in a report on Friday, February 16th. Finally, Piper Sandler Companies downgraded Apple to a “neutral” rating and decreased their price objective for the stock from $220.00 to $205.00 in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $204.08.

Insider Activity

In other news, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the transaction, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the transaction, the director now directly owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the transaction, the senior vice president now directly owns 136,572 shares in the company, valued at $23,068,376.52. The disclosure for this sale can be found here. Insiders have sold a total of 366,271 shares of company stock valued at $63,653,887 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Down 2.2 %

Shares of NASDAQ:AAPL opened at $172.69 on Tuesday. The stock has a market capitalization of $2.67 trillion, a price-to-earnings ratio of 26.90, a PEG ratio of 2.13 and a beta of 1.27. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07. The stock’s 50-day simple moving average is $176.40 and its two-hundred day simple moving average is $182.32. Apple Inc. has a 52-week low of $162.80 and a 52-week high of $199.62.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.09. The business had revenue of $119.60 billion for the quarter, compared to analysts’ expectations of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $1.88 earnings per share. Analysts expect that Apple Inc. will post 6.55 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.56%. Apple’s payout ratio is currently 14.95%.

About Apple

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.