Orion Investment Co grew its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 3.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 14,293 shares of the iPhone maker’s stock after buying an additional 500 shares during the period. Apple comprises about 1.4% of Orion Investment Co’s investment portfolio, making the stock its 19th biggest position. Orion Investment Co’s holdings in Apple were worth $3,579,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Drystone LLC bought a new position in shares of Apple in the fourth quarter valued at approximately $25,000. Life Planning Partners Inc bought a new position in shares of Apple in the fourth quarter valued at approximately $47,000. Conquis Financial LLC bought a new position in shares of Apple in the fourth quarter valued at approximately $63,000. SPX Gestao de Recursos Ltda bought a new position in shares of Apple in the third quarter valued at approximately $71,000. Finally, Pillar Financial Advisors LLC bought a new position in shares of Apple in the fourth quarter valued at approximately $82,000. Institutional investors own 67.73% of the company’s stock.
Apple Stock Up 0.2%
Shares of NASDAQ AAPL opened at $199.20 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The firm’s fifty day moving average is $201.28 and its 200 day moving average is $223.37. The company has a market cap of $2.98 trillion, a price-to-earnings ratio of 31.62, a PEG ratio of 2.44 and a beta of 1.22.
Apple Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. This is an increase from Apple’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple’s payout ratio is presently 16.20%.
Apple declared that its Board of Directors has initiated a share buyback plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Apple in a research report on Tuesday. Barclays dropped their target price on shares of Apple from $197.00 to $173.00 and set an “underweight” rating for the company in a research report on Wednesday, April 30th. Scotiabank lowered shares of Apple to a “market perform” rating in a research report on Friday, May 2nd. TD Cowen dropped their target price on shares of Apple from $290.00 to $275.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a research report on Wednesday, May 21st. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.86.
Get Our Latest Stock Analysis on AAPL
Insider Buying and Selling at Apple
In other Apple news, insider Chris Kondo sold 4,486 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider now directly owns 15,533 shares of the company’s stock, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the transaction, the chief executive officer now directly owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. The trade was a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 191,507 shares of company stock valued at $42,694,080. 0.06% of the stock is currently owned by company insiders.
Apple Profile
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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