Breakwater Capital Group Has $19.52 Million Position in Apple Inc. (NASDAQ:AAPL)

Breakwater Capital Group lifted its holdings in Apple Inc. (NASDAQ:AAPLFree Report) by 3.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,873 shares of the iPhone maker’s stock after purchasing an additional 3,281 shares during the period. Apple comprises 3.5% of Breakwater Capital Group’s holdings, making the stock its 2nd biggest holding. Breakwater Capital Group’s holdings in Apple were worth $19,519,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AAPL. Drystone LLC purchased a new stake in shares of Apple during the fourth quarter valued at $25,000. Life Planning Partners Inc purchased a new stake in Apple during the fourth quarter valued at about $47,000. Conquis Financial LLC acquired a new position in shares of Apple in the fourth quarter worth about $63,000. LSV Asset Management purchased a new position in shares of Apple in the fourth quarter worth approximately $65,000. Finally, Pillar Financial Advisors LLC acquired a new stake in shares of Apple during the fourth quarter valued at approximately $82,000. 67.73% of the stock is currently owned by institutional investors.

Apple Price Performance

Shares of Apple stock opened at $213.36 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The business’s 50 day simple moving average is $203.26 and its two-hundred day simple moving average is $219.14. The stock has a market capitalization 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:AAPLGet Free Report) last released its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business had revenue of $95.36 billion during the quarter, compared to analysts’ expectations of $94.04 billion. During the same quarter last year, the business posted $1.53 EPS. The business’s revenue was up 5.1% on a year-over-year basis. Analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its Board of Directors has approved a stock buyback plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, May 12th. This is a positive change from Apple’s previous quarterly dividend of $0.25. Apple’s payout ratio is currently 16.20%.

Insider Transactions at Apple

In other news, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer owned 4,569 shares in the company, valued at $941,214. This represents a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 4,486 shares of the business’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the transaction, the insider owned 15,533 shares of the company’s stock, valued at $3,233,815.27. This represents a 22.41% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AAPL shares. Loop Capital decreased their price objective on shares of Apple from $230.00 to $215.00 and set a “hold” rating for the company in a research note on Wednesday, April 30th. China Renaissance assumed coverage on Apple in a research report on Tuesday, April 22nd. They issued a “buy” rating and a $241.00 target price for the company. Citigroup reissued a “buy” rating on shares of Apple in a research report on Tuesday, June 10th. UBS Group set a $210.00 price objective on Apple and gave the stock a “neutral” rating in a research report on Thursday. Finally, Wedbush reiterated an “outperform” rating and issued a $270.00 target price on shares of Apple in a report on Tuesday, June 10th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $234.95.

Check Out Our Latest Analysis on Apple

About Apple

(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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