Morningstar Investment Management LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 30.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 194,913 shares of the iPhone maker's stock after buying an additional 45,801 shares during the quarter. Apple makes up 3.8% of Morningstar Investment Management LLC's holdings, making the stock its 8th biggest holding. Morningstar Investment Management LLC's holdings in Apple were worth $48,810,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. State Street Corp increased its stake in Apple by 10.6% in the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock valued at $136,074,372,000 after purchasing an additional 55,935,105 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Apple by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock valued at $77,542,863,000 after buying an additional 20,483,787 shares during the period. FMR LLC grew its stake in shares of Apple by 5.3% in the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock valued at $84,779,231,000 after buying an additional 18,224,005 shares during the period. Strategic Financial Concepts LLC increased its position in Apple by 25,285.2% in the 4th quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker's stock valued at $2,411,260,000 after buying an additional 9,590,933 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Apple by 6.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker's stock worth $22,121,656,000 after buying an additional 5,893,741 shares during the period. Institutional investors own 67.73% of the company's stock.
Apple Trading Up 0.5 %
Shares of NASDAQ AAPL traded up $1.07 during mid-day trading on Tuesday, hitting $211.21. The stock had a trading volume of 35,359,019 shares, compared to its average volume of 56,661,567. The firm has a market cap of $3.17 trillion, a P/E ratio of 33.53, 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 quick ratio of 0.88 and a current ratio of 0.92. The business has a 50 day moving average price of $215.01 and a two-hundred day moving average price of $229.19. Apple Inc. has a 1 year low of $169.11 and a 1 year high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results 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 net margin of 24.30% and a return on equity of 160.83%. On average, equities analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.47%. Apple's dividend payout ratio (DPR) is presently 15.87%.
Insider Activity at Apple
In other Apple news, SVP Katherine L. Adams sold 38,822 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the sale, the senior vice president now directly owns 179,158 shares in the company, valued at $40,072,269.86. This trade represents a 17.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kevan Parekh sold 4,570 shares of the company'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 value of $941,420.00. Following the transaction, the chief financial officer now owns 4,569 shares in the company, valued at $941,214. This trade represents a 50.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 187,021 shares of company stock worth $41,760,140 over the last quarter. 0.06% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
AAPL has been the subject of a number of recent research reports. Monness Crespi & Hardt boosted their price target on shares of Apple to $245.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. China Renaissance began coverage on Apple in a research report on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 price objective on the stock. Redburn Partners set a $230.00 target price on shares of Apple in a research report on Friday, January 31st. Bank of America cut their price target on Apple from $250.00 to $240.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Jefferies Financial Group upgraded shares of Apple from an "underperform" rating to a "hold" rating and reduced their price objective for the company from $202.33 to $167.88 in a research note on Wednesday, April 9th. Two investment 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 issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $234.31.
Get Our Latest Stock Analysis on AAPL
About Apple
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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.
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