Apple Inc. (NASDAQ:AAPL) Shares Sold by HFR Wealth Management LLC

HFR Wealth Management LLC decreased its holdings in Apple Inc. (NASDAQ:AAPLFree Report) by 0.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 97,075 shares of the iPhone maker’s stock after selling 272 shares during the period. Apple makes up 5.1% of HFR Wealth Management LLC’s portfolio, making the stock its biggest position. HFR Wealth Management LLC’s holdings in Apple were worth $18,690,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AAPL. Wyrmwood Management LLC increased its position in shares of 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 purchasing an additional 69 shares in the last quarter. Gilfoyle & Co LLC increased its position in shares of Apple by 118.0% during the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares in the last quarter. PayPay Securities Corp increased 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 worth $87,000 after purchasing an additional 210 shares in the last quarter. Friedenthal Financial acquired a new stake in shares of Apple during the 4th quarter worth about $111,000. Finally, Cordant Inc. increased its position in shares of Apple by 27.7% during the 3rd quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock worth $110,000 after purchasing an additional 140 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Activity at Apple

In related news, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the transaction, the director now directly owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the transaction, the director now directly owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the transaction, the insider now directly owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 346,270 shares of company stock valued at $60,880,196. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AAPL shares. Needham & Company LLC reissued a “buy” rating and set a $220.00 price objective on shares of Apple in a report on Friday, May 3rd. UBS Group reissued a “hold” rating and set a $190.00 price objective on shares of Apple in a report on Monday, March 25th. Canaccord Genuity Group increased their price objective on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Saturday, May 4th. Bank of America reissued a “buy” rating and set a $230.00 price objective on shares of Apple in a report on Wednesday, May 29th. Finally, Monness Crespi & Hardt reissued a “buy” rating and set a $205.00 price objective on shares of Apple in a report on Thursday, June 6th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $205.59.

Read Our Latest Research Report on AAPL

Apple Price Performance

NASDAQ AAPL opened at $193.12 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $199.62. The company has a market capitalization of $2.96 trillion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 2.40 and a beta of 1.25. The firm’s 50 day moving average is $180.37 and its 200-day moving average is $183.39.

Apple (NASDAQ:AAPLGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) 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 company had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. During the same period last year, the company earned $1.52 earnings per share. The firm’s revenue was down 4.3% compared to the same quarter last year. Equities research analysts anticipate that Apple Inc. will post 6.57 earnings per share for the current fiscal year.

Apple declared that its board has approved a stock buyback 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 typically an indication that the company’s board of directors believes its shares are undervalued.

Apple Increases Dividend

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

Apple Company 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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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