Bank OZK Sells 2,226 Shares of Apple Inc. (NASDAQ:AAPL)

Bank OZK decreased its position in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 3.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,360 shares of the iPhone maker’s stock after selling 2,226 shares during the quarter. Apple comprises 6.1% of Bank OZK’s holdings, making the stock its largest holding. Bank OZK’s holdings in Apple were worth $12,391,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AAPL. Wyrmwood Management LLC boosted its position in Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 69 shares during the last quarter. Gilfoyle & Co LLC boosted its stake in Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after acquiring an additional 118 shares during the last quarter. PayPay Securities Corp grew its position in shares of Apple by 70.2% during the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock valued at $87,000 after acquiring an additional 210 shares during the period. Friedenthal Financial purchased a new stake in shares of Apple during the 4th quarter worth approximately $111,000. Finally, Cordant Inc. lifted its stake in Apple by 27.7% in the third quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock valued at $110,000 after purchasing an additional 140 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of research reports. Canaccord Genuity Group increased their target price on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Itau BBA Securities upgraded Apple from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $162.00 to $188.00 in a research note on Friday, May 3rd. Citigroup lowered their price target on shares of Apple from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Monday, April 29th. Tigress Financial boosted their price objective on shares of Apple from $240.00 to $245.00 and gave the company a “strong-buy” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. increased their target price on shares of Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.59.

Read Our Latest Stock Report on Apple

Apple Stock Up 0.5 %

Shares of NASDAQ AAPL opened at $191.29 on Friday. 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 firm has a 50-day simple moving average of $177.13 and a two-hundred day simple moving average of $183.23. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $199.62. The company has a market cap of $2.93 trillion, a P/E ratio of 29.75, a PEG ratio of 2.32 and a beta of 1.26.

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

Apple Increases Dividend

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

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

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,999 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total transaction of $951,809.60. Following the sale, the insider now owns 29,278 shares in the company, valued at $5,574,531.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the sale, the insider now directly owns 29,278 shares in the company, valued at approximately $5,574,531.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at $18,768,046.56. 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 90 days. 0.06% of the stock is currently owned by company insiders.

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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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