Apple Inc. (NASDAQ:AAPL) Shares Acquired by United Community Bank

United Community Bank boosted its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 87.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,443 shares of the iPhone maker’s stock after acquiring an additional 10,500 shares during the quarter. Apple makes up approximately 1.8% of United Community Bank’s holdings, making the stock its 6th biggest holding. United Community Bank’s holdings in Apple were worth $4,321,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AAPL. Wyrmwood Management LLC grew its holdings in Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after acquiring an additional 69 shares during the last quarter. Gilfoyle & Co LLC boosted its stake in shares of Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after purchasing an additional 118 shares during the last quarter. PayPay Securities Corp boosted its stake in shares of Apple by 70.2% in the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock valued at $87,000 after purchasing an additional 210 shares during the last quarter. Cordant Inc. raised its position in shares of Apple by 27.7% in the 3rd quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock valued at $110,000 after acquiring an additional 140 shares during the period. Finally, Friedenthal Financial acquired a new stake in shares of Apple in the 4th quarter valued at approximately $111,000. Institutional investors own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AAPL shares. Barclays increased their price target on shares of Apple from $158.00 to $164.00 and gave the company an “underweight” rating in a research report on Friday, May 3rd. Rosenblatt Securities reiterated a “neutral” rating and issued a $196.00 price objective (up from $189.00) on shares of Apple in a report on Friday, May 3rd. Maxim Group assumed coverage on shares of Apple in a report on Wednesday, April 17th. They issued a “hold” rating and a $178.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 price objective on shares of Apple in a report on Friday, May 3rd. Finally, Tigress Financial boosted their target price on shares of Apple from $240.00 to $245.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.59.

View Our Latest Report on Apple

Insider Buying and Selling

In other news, CEO Timothy D. Cook sold 99,183 shares of the 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 completion of the transaction, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Luca Maestri sold 53,194 shares of the stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $18,768,046.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the transaction, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. Insiders sold 346,270 shares of company stock valued at $60,880,196 over the last quarter. 0.06% of the stock is owned by company insiders.

Apple Trading Down 1.9 %

AAPL opened at $193.12 on Tuesday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $199.62. The company has a 50-day simple moving average of $180.37 and a 200 day simple moving average of $183.39. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $2.96 trillion, a price-to-earnings ratio of 30.03, a P/E/G ratio of 2.40 and a beta of 1.25.

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

Apple Increases Dividend

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

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

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

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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