Riverstone Advisors LLC Has $2.87 Million Stake in Apple Inc. (NASDAQ:AAPL)

Riverstone Advisors LLC lifted its holdings in Apple Inc. (NASDAQ:AAPLFree Report) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,892 shares of the iPhone maker’s stock after acquiring an additional 245 shares during the quarter. Apple makes up approximately 1.9% of Riverstone Advisors LLC’s holdings, making the stock its 14th largest holding. Riverstone Advisors LLC’s holdings in Apple were worth $2,867,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Headinvest LLC increased its holdings in shares of Apple by 1.7% in the third quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock valued at $9,236,000 after purchasing an additional 872 shares in the last quarter. Sound Income Strategies LLC raised its position in shares of Apple by 16.1% during the 4th quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock valued at $14,461,000 after acquiring an additional 10,425 shares during the last quarter. DNB Asset Management AS lifted its stake in shares of Apple by 6.9% in the 4th quarter. DNB Asset Management AS now owns 4,307,068 shares of the iPhone maker’s stock valued at $829,240,000 after purchasing an additional 279,311 shares during the period. Boltwood Capital Management boosted its position in shares of Apple by 2.8% in the 4th quarter. Boltwood Capital Management now owns 37,178 shares of the iPhone maker’s stock worth $7,158,000 after purchasing an additional 1,021 shares during the last quarter. Finally, NewEdge Wealth LLC boosted its position in shares of Apple by 16.2% in the 4th quarter. NewEdge Wealth LLC now owns 808,709 shares of the iPhone maker’s stock worth $155,701,000 after purchasing an additional 112,980 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. The Goldman Sachs Group increased their target price on Apple from $223.00 to $232.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Canaccord Genuity Group boosted their price objective on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a report on Saturday, May 4th. Sanford C. Bernstein upgraded shares of Apple from a “market perform” rating to an “outperform” rating and set a $195.00 target price on the stock in a report on Monday, April 29th. Maxim Group initiated coverage on shares of Apple in a research report on Wednesday, April 17th. They issued a “hold” rating and a $178.00 price objective for the company. Finally, Wedbush reaffirmed an “outperform” rating and set a $250.00 price objective on shares of Apple in a research note on Monday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $204.11.

Check Out Our Latest Research Report on AAPL

Insider Buying and Selling at Apple

In other news, COO Jeffrey E. Williams sold 59,162 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the completion of the sale, the chief operating officer now owns 489,944 shares in the company, valued at $84,378,155.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction 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 $574,260,512.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 59,162 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $172.22, for a total value of $10,188,879.64. Following the completion of the sale, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $84,378,155.68. The disclosure for this sale can be found here. Insiders have sold a total of 366,271 shares of company stock valued at $63,653,887 in the last three months. 0.06% of the stock is currently owned by company insiders.

Apple Price Performance

NASDAQ:AAPL opened at $187.43 on Wednesday. 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 firm has a fifty day simple moving average of $172.57 and a 200 day simple moving average of $182.15. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $199.62. The stock has a market capitalization of $2.87 trillion, a PE ratio of 29.15, a P/E/G ratio of 2.20 and a beta of 1.26.

Apple (NASDAQ:AAPLGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The firm had revenue of $90.75 billion for 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 business’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.52 earnings per share. On average, research analysts expect that Apple Inc. will post 6.57 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 13th will be issued a dividend of $0.25 per share. This is an increase from Apple’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, May 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.53%. Apple’s payout ratio is presently 15.55%.

Apple announced that its board has authorized a share repurchase plan on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

Apple 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

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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