Apple Inc. (NASDAQ:AAPL) is Annex Advisory Services LLC’s 10th Largest Position

Annex Advisory Services LLC grew its position in Apple Inc. (NASDAQ:AAPL) by 14.2% during the 1st quarter, Holdings Channel reports. The fund owned 391,808 shares of the iPhone maker’s stock after buying an additional 48,783 shares during the quarter. Apple comprises about 2.5% of Annex Advisory Services LLC’s holdings, making the stock its 10th biggest position. Annex Advisory Services LLC’s holdings in Apple were worth $87,032,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Breakwater Capital Group increased its holdings in Apple by 3.9% in the first quarter. Breakwater Capital Group now owns 87,873 shares of the iPhone maker’s stock valued at $19,519,000 after buying an additional 3,281 shares in the last quarter. Boltwood Capital Management grew its holdings in shares of Apple by 7.1% in the 1st quarter. Boltwood Capital Management now owns 34,106 shares of the iPhone maker’s stock worth $7,576,000 after acquiring an additional 2,248 shares during the period. ACT Advisors LLC. increased its stake in Apple by 3.6% in the 1st quarter. ACT Advisors LLC. now owns 8,251 shares of the iPhone maker’s stock valued at $1,833,000 after purchasing an additional 283 shares in the last quarter. Eclectic Associates Inc. ADV raised its holdings in Apple by 4.3% during the first quarter. Eclectic Associates Inc. ADV now owns 50,458 shares of the iPhone maker’s stock worth $11,208,000 after purchasing an additional 2,093 shares during the last quarter. Finally, KWB Wealth raised its holdings in Apple by 1.9% during the first quarter. KWB Wealth now owns 17,434 shares of the iPhone maker’s stock worth $3,873,000 after purchasing an additional 325 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Transactions at Apple

In other 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 value of $933,940.34. Following the sale, the insider owned 15,533 shares in the company, 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 is accessible through this link. Also, CFO Kevan Parekh sold 4,570 shares of the firm’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer directly owned 4,569 shares of the company’s stock, valued at approximately $941,214. The trade was a 50.01% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Apple Stock Up 0.4%

Shares of AAPL stock opened at $213.36 on Friday. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. The stock has a fifty day moving average price of $203.26 and a 200 day moving average price of $219.14. The stock has a market cap of $3.19 trillion, a P/E ratio of 33.23, a price-to-earnings-growth ratio of 2.37 and a beta of 1.20.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The company had revenue of $95.36 billion during the quarter, compared to analysts’ expectations of $94.04 billion. During the same quarter in the prior year, the company posted $1.53 EPS. The business’s revenue was up 5.1% on a year-over-year basis. Analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple declared that its Board of Directors has initiated a stock buyback program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a dividend of $0.26 per share. This is a boost from Apple’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. Apple’s dividend payout ratio (DPR) is currently 16.20%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of research reports. Bank of America reissued a “buy” rating and issued a $235.00 price objective on shares of Apple in a research note on Tuesday, June 10th. Jefferies Financial Group upgraded shares of Apple from an “underperform” rating to a “hold” rating and increased their price target for the company from $170.62 to $188.32 in a research report on Tuesday. Wedbush reissued an “outperform” rating and set a $270.00 price objective on shares of Apple in a research note on Tuesday, June 10th. Monness Crespi & Hardt lifted their price objective on Apple to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, June 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research note on Tuesday, June 10th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $234.95.

Apple Company 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.