Apple Inc. (NASDAQ:AAPL) Position Raised by Financial Management Network Inc.

Financial Management Network Inc. boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 4.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 67,536 shares of the iPhone maker’s stock after acquiring an additional 3,066 shares during the quarter. Apple accounts for about 3.4% of Financial Management Network Inc.’s investment portfolio, making the stock its 5th largest position. Financial Management Network Inc.’s holdings in Apple were worth $16,436,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Amara Financial LLC. purchased a new position in shares of Apple during the 3rd quarter valued at about $288,000. Silicon Valley Capital Partners grew its holdings in shares of Apple by 12.8% during the 3rd quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock valued at $59,122,000 after purchasing an additional 28,799 shares during the last quarter. Catalyst Financial Partners LLC lifted its stake in Apple by 4.2% in the third quarter. Catalyst Financial Partners LLC now owns 96,589 shares of the iPhone maker’s stock worth $22,505,000 after purchasing an additional 3,935 shares during the last quarter. Vestcor Inc grew its stake in shares of Apple by 10.1% during the third quarter. Vestcor Inc now owns 375,539 shares of the iPhone maker’s stock valued at $87,501,000 after buying an additional 34,414 shares during the last quarter. Finally, 5th Street Advisors LLC lifted its stake in shares of Apple by 32.9% in the 3rd quarter. 5th Street Advisors LLC now owns 15,100 shares of the iPhone maker’s stock valued at $3,518,000 after acquiring an additional 3,736 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Activity

In related news, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the sale, the chief executive officer now owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This trade represents a 3.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the transaction, the senior vice president now directly owns 179,158 shares in the company, valued at approximately $40,072,269.86. This represents a 17.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 187,021 shares of company stock valued at $41,760,140 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

AAPL stock opened at $209.28 on Friday. The company has a market cap of $3.14 trillion, a P/E ratio of 33.22, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. Apple Inc. has a 1 year low of $169.11 and a 1 year high of $260.10. The stock’s fifty day moving average price is $215.71 and its 200-day moving average price is $229.31.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio (DPR) is currently 15.87%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AAPL shares. The Goldman Sachs Group dropped their price objective on Apple from $259.00 to $256.00 and set a “buy” rating for the company in a research note on Wednesday. Maxim Group upped their price objective on shares of Apple to $215.00 and gave the company a “hold” rating in a research note on Friday, February 21st. TD Cowen reissued a “buy” rating on shares of Apple in a research note on Tuesday, January 28th. China Renaissance initiated coverage on Apple in a report on Tuesday. They issued a “buy” rating and a $241.00 price objective for the company. Finally, Oppenheimer cut Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $233.88.

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.