Empower Advisory Group LLC raised its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,960,205 shares of the iPhone maker's stock after buying an additional 29,348 shares during the quarter. Apple comprises about 1.7% of Empower Advisory Group LLC's portfolio, making the stock its 14th biggest holding. Empower Advisory Group LLC's holdings in Apple were worth $490,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Truist Financial Corp grew its stake in shares of Apple by 3.0% in the fourth quarter. Truist Financial Corp now owns 7,303,847 shares of the iPhone maker's stock valued at $1,829,029,000 after buying an additional 213,139 shares in the last quarter. Wealth Quarterback LLC boosted its holdings in Apple by 8.6% during the 4th quarter. Wealth Quarterback LLC now owns 37,341 shares of the iPhone maker's stock valued at $9,351,000 after acquiring an additional 2,943 shares during the period. CIBC Asset Management Inc grew its position in Apple by 3.9% in the 4th quarter. CIBC Asset Management Inc now owns 4,024,242 shares of the iPhone maker's stock valued at $1,007,565,000 after acquiring an additional 149,260 shares in the last quarter. Cutler Investment Counsel LLC increased its stake in Apple by 0.8% during the fourth quarter. Cutler Investment Counsel LLC now owns 23,995 shares of the iPhone maker's stock worth $6,009,000 after purchasing an additional 199 shares during the period. Finally, Highview Capital Management LLC DE lifted its position in shares of Apple by 2.4% during the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock worth $12,587,000 after purchasing an additional 1,155 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.
Insiders Place Their Bets
In other news, CEO Timothy D. Cook sold 108,136 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the transaction, the chief executive officer now directly owns 3,280,295 shares in the company, valued at $733,637,976.75. The trade was a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jeffrey E. Williams sold 35,493 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the sale, the chief operating officer now owns 390,059 shares of the company's stock, valued at approximately $87,377,116.59. The trade was a 8.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 182,451 shares of company stock worth $40,818,720. 0.06% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of research firms have issued reports on AAPL. Bank of America reduced their target price on shares of Apple from $265.00 to $250.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Barclays lifted their target price on Apple from $183.00 to $197.00 and gave the company an "underweight" rating in a report on Friday, January 31st. TD Cowen restated a "buy" rating on shares of Apple in a report on Tuesday, January 28th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $263.00 price target on shares of Apple in a research report on Thursday, April 3rd. Finally, Redburn Partners set a $230.00 target price on shares of Apple in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and an average price target of $234.17.
View Our Latest Stock Analysis on AAPL
Apple Price Performance
Shares of AAPL opened at $204.57 on Thursday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. Apple Inc. has a fifty-two week low of $166.21 and a fifty-two week high of $260.10. The firm has a 50-day simple moving average of $217.14 and a 200-day simple moving average of $229.52. The company has a market capitalization of $3.07 trillion, a price-to-earnings ratio of 32.47, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26.
Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping analysts' consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.
Apple Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.49%. Apple's dividend payout ratio is currently 15.87%.
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.
Further Reading
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