Apple Inc. (NASDAQ:AAPL) Shares Bought by RiverFront Investment Group LLC

RiverFront Investment Group LLC raised its holdings in Apple Inc. (NASDAQ:AAPLFree Report) by 3.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 226,749 shares of the iPhone maker’s stock after acquiring an additional 8,279 shares during the period. Apple makes up approximately 1.4% of RiverFront Investment Group LLC’s portfolio, making the stock its 23rd biggest position. RiverFront Investment Group LLC’s holdings in Apple were worth $43,655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the stock. Headinvest LLC raised its holdings in shares of Apple by 1.7% in the 3rd quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock worth $9,236,000 after purchasing an additional 872 shares during the period. Sound Income Strategies LLC lifted its position in Apple by 16.1% during the fourth quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock valued at $14,461,000 after buying an additional 10,425 shares in the last quarter. DNB Asset Management AS increased its position in shares of Apple by 6.9% in the fourth quarter. DNB Asset Management AS now owns 4,307,068 shares of the iPhone maker’s stock worth $829,240,000 after acquiring an additional 279,311 shares in the last quarter. Boltwood Capital Management lifted its stake in shares of Apple by 2.8% during the fourth quarter. Boltwood Capital Management now owns 37,178 shares of the iPhone maker’s stock worth $7,158,000 after purchasing an additional 1,021 shares in the last quarter. Finally, NewEdge Wealth LLC grew its stake in shares of Apple by 16.2% in the fourth quarter. NewEdge Wealth LLC now owns 808,709 shares of the iPhone maker’s stock valued at $155,701,000 after buying an additional 112,980 shares in the last quarter. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Up 0.5 %

Shares of Apple stock opened at $191.29 on Friday. The business’s fifty day moving average price is $177.13 and its two-hundred day moving average price is $183.23. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. The company has a market capitalization of $2.93 trillion, a P/E ratio of 29.75, a PEG ratio of 2.32 and a beta of 1.26. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $199.62.

Apple (NASDAQ:AAPLGet Free Report) last announced its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. The firm had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.52 EPS. As a group, research analysts forecast that Apple Inc. will post 6.57 EPS for the current year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.00 annualized dividend and a yield of 0.52%. This is an increase from Apple’s previous quarterly dividend of $0.24. Apple’s payout ratio is presently 15.55%.

Apple declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 2nd that permits the company to buyback $110.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to purchase up to 3.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of analyst reports. UBS Group restated a “hold” rating and issued a $190.00 price target on shares of Apple in a report on Monday, March 25th. Canaccord Genuity Group upped their target price on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Morgan Stanley lifted their price target on shares of Apple from $210.00 to $216.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. upped their price objective on shares of Apple from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Finally, The Goldman Sachs Group raised their target price on Apple from $223.00 to $232.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $205.59.

Read Our Latest Stock Analysis on Apple

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction on 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 sale, the senior vice president now owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction on 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 in the company, valued at approximately $23,068,376.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the transaction, the chief executive officer now owns 3,377,407 shares in the company, valued at $574,260,512.21. The disclosure for this sale can be found here. Insiders have sold 271,270 shares of company stock valued at $46,511,696 in the last quarter. Corporate insiders own 0.06% of the company’s stock.

About Apple

(Free Report)

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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