Apple Inc. (NASDAQ:AAPL) Shares Acquired by Financial Management Network Inc.

Financial Management Network Inc. lifted its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,536 shares of the iPhone maker's stock after purchasing an additional 3,066 shares during the quarter. Apple accounts for 3.4% of Financial Management Network Inc.'s portfolio, making the stock its 5th largest position. Financial Management Network Inc.'s holdings in Apple were worth $16,436,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AAPL. Drystone LLC bought a new stake in Apple during the 4th quarter worth about $25,000. Life Planning Partners Inc acquired a new position in Apple during the 4th quarter worth $47,000. SPX Gestao de Recursos Ltda bought a new position in Apple in the 3rd quarter valued at $71,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Apple in the 3rd quarter valued at $77,000. Finally, ARK Investment Management LLC bought a new stake in shares of Apple during the third quarter worth $110,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Performance

Apple stock traded up $0.73 during midday trading on Monday, reaching $210.01. 20,904,430 shares of the company's stock were exchanged, compared to its average volume of 59,210,594. 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 stock's 50-day simple moving average is $215.71 and its 200 day simple moving average is $229.31. The firm has a market cap of $3.15 trillion, a price-to-earnings ratio of 33.34, a P/E/G ratio of 2.44 and a beta of 1.26. Apple Inc. has a 52 week low of $169.11 and a 52 week 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 return on equity of 160.83% and a net margin of 24.30%. On average, analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 108,136 shares of the company's stock in a transaction on 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 directly owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This represents a 3.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the 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 now owns 4,569 shares in the company, valued at $941,214. This 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. Company insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AAPL. The Goldman Sachs Group cut their target price on shares of Apple from $259.00 to $256.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Wedbush lowered their target price on shares of Apple from $325.00 to $250.00 and set an "outperform" rating for the company in a report on Monday, April 7th. TD Cowen reissued a "buy" rating on shares of Apple in a research note on Tuesday, January 28th. JPMorgan Chase & Co. decreased their price objective on Apple from $270.00 to $245.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $225.00 target price on shares of Apple in a research note on Monday, April 14th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and an average target price of $234.31.

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.