Stack Financial Management Inc Buys Shares of 1,101 Apple Inc. (NASDAQ:AAPL)


Stack Financial Management Inc purchased a new position in shares of Apple Inc. (NASDAQ:AAPLFree Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,101 shares of the iPhone maker’s stock, valued at approximately $212,000.

A number of other large investors have also made changes to their positions in the stock. Ironwood Wealth Management LLC. boosted its position in Apple by 0.4% during the third quarter. Ironwood Wealth Management LLC. now owns 220,621 shares of the iPhone maker’s stock worth $37,773,000 after purchasing an additional 930 shares in the last quarter. Wealth Management Resources Inc. increased its position in shares of Apple by 1.3% in the third quarter. Wealth Management Resources Inc. now owns 6,750 shares of the iPhone maker’s stock valued at $1,156,000 after buying an additional 89 shares in the last quarter. Brown Financial Advisory raised its stake in shares of Apple by 8.8% during the 3rd quarter. Brown Financial Advisory now owns 1,237 shares of the iPhone maker’s stock worth $212,000 after buying an additional 100 shares during the last quarter. Ayalon Insurance Comp Ltd. boosted its position in shares of Apple by 1.3% in the 3rd quarter. Ayalon Insurance Comp Ltd. now owns 51,317 shares of the iPhone maker’s stock worth $8,786,000 after buying an additional 674 shares in the last quarter. Finally, G2 Capital Management LLC OH grew its stake in Apple by 1.5% in the 3rd quarter. G2 Capital Management LLC OH now owns 30,325 shares of the iPhone maker’s stock valued at $5,192,000 after acquiring an additional 444 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the topic of several recent research reports. Robert W. Baird upped their price target on shares of Apple from $186.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $220.00 target price on shares of Apple in a research note on Friday, May 3rd. Wedbush boosted their price target on Apple from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Friday. Itau BBA Securities upgraded Apple from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from $162.00 to $188.00 in a research report on Friday, May 3rd. Finally, The Goldman Sachs Group upped their target price on shares of Apple from $223.00 to $232.00 and gave the company a “buy” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $205.44.

Read Our Latest Stock Report on Apple

Insider Activity

In related news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the completion of the sale, the director now directly owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the company’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 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Arthur D. Levinson sold 100,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the transaction, the director now owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The disclosure for this sale can be found here. Insiders have sold 371,270 shares of company stock worth $64,605,696 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Apple Stock Up 1.7 %

Shares of Apple stock opened at $189.98 on Monday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $199.62. The stock has a market cap of $2.91 trillion, a price-to-earnings ratio of 29.55, a price-to-earnings-growth ratio of 2.32 and a beta of 1.26. 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 fifty day moving average price of $175.89 and a 200 day moving average price of $183.04.

Apple (NASDAQ:AAPLGet Free Report) last issued its earnings results 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. The company had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The company’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.52 earnings per share. Equities research analysts forecast that Apple Inc. will post 6.57 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were given a $0.25 dividend. This is an increase 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 0.53%. Apple’s dividend payout ratio (DPR) is 15.55%.

Apple declared that its Board of Directors has approved a stock repurchase program on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)



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