Paradiem LLC Has $6.81 Million Stake in Apple Inc. (NASDAQ:AAPL)

Paradiem LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 33.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,386 shares of the iPhone maker’s stock after selling 18,161 shares during the period. Apple accounts for approximately 1.9% of Paradiem LLC’s holdings, making the stock its 27th biggest holding. Paradiem LLC’s holdings in Apple were worth $6,813,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AAPL. Conservest Capital Advisors Inc. grew its holdings in shares of Apple by 0.3% during the 3rd quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock valued at $2,877,000 after purchasing an additional 55 shares during the last quarter. Flagstone Financial Management increased its holdings in shares of Apple by 0.9% during the fourth quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock worth $1,173,000 after buying an additional 56 shares in the last quarter. High Pines Wealth Management LLC lifted its stake in shares of Apple by 0.7% in the 4th quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock valued at $1,638,000 after acquiring an additional 58 shares during the last quarter. Asset Planning Corporation boosted its holdings in shares of Apple by 1.0% during the 4th quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock valued at $1,181,000 after acquiring an additional 59 shares in the last quarter. Finally, Columbus Macro LLC grew its position in Apple by 0.5% during the 4th quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock worth $2,120,000 after acquiring an additional 59 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $191.29 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The company has a market cap of $2.93 trillion, a price-to-earnings ratio of 29.75, a price-to-earnings-growth ratio of 2.32 and a beta of 1.26. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $199.62. The company has a 50-day moving average price of $177.13 and a 200-day moving average price of $183.23.

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 analysts’ consensus estimates of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The firm had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. During the same quarter in the previous year, the firm posted $1.52 EPS. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, equities analysts anticipate 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. Stockholders of record on Monday, May 13th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Friday, May 10th. This is a boost from Apple’s previous quarterly dividend of $0.24. Apple’s payout ratio is 15.55%.

Apple announced that its board has authorized a share repurchase plan on Thursday, May 2nd that permits the company to buyback $110.00 billion in 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.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Maxim Group began coverage on shares of Apple in a report on Wednesday, April 17th. They issued a “hold” rating and a $178.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and set a $220.00 price target on shares of Apple in a report on Friday, May 3rd. Canaccord Genuity Group increased their price objective on Apple from $200.00 to $215.00 and gave the company a “buy” rating in a report on Saturday, May 4th. Canaccord Genuity Group lifted their target price on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, Citigroup decreased their price target on Apple from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Monday, April 29th. One 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. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.59.

Check Out Our Latest Research Report on AAPL

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 3,377,407 shares in the company, valued at $574,260,512.21. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Timothy D. Cook sold 99,183 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the sale, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,999 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total value of $951,809.60. Following the transaction, the insider now directly owns 29,278 shares of the company’s stock, valued at approximately $5,574,531.20. The disclosure for this sale can be found here. Insiders sold a total of 271,270 shares of company stock worth $46,511,696 in the last three months. 0.06% of the stock is owned by corporate insiders.

Apple Profile

(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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