Apple Inc. (NASDAQ:AAPL) Stake Raised by Albion Financial Group UT

Albion Financial Group UT increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 347,283 shares of the iPhone maker’s stock after purchasing an additional 3,558 shares during the period. Apple makes up 5.5% of Albion Financial Group UT’s portfolio, making the stock its 4th largest holding. Albion Financial Group UT’s holdings in Apple were worth $66,862,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AAPL. Wyrmwood Management LLC raised its position in Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after purchasing an additional 69 shares in the last quarter. Gilfoyle & Co LLC lifted its position in shares of Apple by 118.0% in 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 during the period. PayPay Securities Corp boosted its stake in shares of Apple by 70.2% during the third quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock valued at $87,000 after purchasing an additional 210 shares in the last quarter. Cordant Inc. increased its holdings in Apple by 27.7% during the third quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock valued at $110,000 after buying an additional 140 shares during the period. Finally, Life Planning Partners Inc bought a new stake in Apple during the 4th quarter valued at $132,000. 60.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Apple news, Director Arthur D. Levinson sold 100,000 shares of Apple 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 sale, the director now owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the firm’s 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 directly owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Deirdre O’brien sold 54,732 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the transaction, the senior vice president now owns 136,572 shares in the company, valued at $23,068,376.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 366,271 shares of company stock worth $63,653,887. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

NASDAQ:AAPL opened at $183.38 on Monday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07. The stock has a market capitalization of $2.83 trillion, a PE ratio of 28.52, a P/E/G ratio of 2.22 and a beta of 1.26. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $199.62. The company has a fifty day moving average of $172.17 and a two-hundred day moving average of $181.67.

Apple (NASDAQ:AAPL) last released its quarterly 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. Apple had a net margin of 26.31% and a return on equity of 153.25%. The firm had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. During the same quarter in the prior year, the firm earned $1.52 EPS. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, research analysts forecast that Apple Inc. will post 6.54 earnings per share for the current fiscal year.

Apple declared that its board 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 buy up to 3.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 13th will be paid a $0.25 dividend. The ex-dividend date is Friday, May 10th. This is a positive change from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.55%. Apple’s payout ratio is currently 14.93%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. DZ Bank reiterated a “hold” rating and issued a $180.00 target price on shares of Apple in a research note on Thursday, March 28th. Morgan Stanley lifted their price target on shares of Apple from $210.00 to $216.00 and gave the stock an “overweight” rating in a report on Friday. 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. Bank of America increased their price target on Apple from $225.00 to $230.00 and gave the company a “buy” rating in a research note on Friday. Finally, Sanford C. Bernstein upgraded Apple from a “market perform” rating to an “outperform” rating and set a $195.00 price target on the stock 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-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $204.11.

About Apple

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.