Orca Investment Management LLC Purchases 1,400 Shares of Apple Inc. (NASDAQ:AAPL)
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Orca Investment Management LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,945 shares of the iPhone maker’s stock after acquiring an additional 1,400 shares during the period. Apple makes up about 7.6% of Orca Investment Management LLC’s investment portfolio, making the stock its 2nd largest position. Orca Investment Management LLC’s holdings in Apple were worth $7,883,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its stake in Apple by 14,395.4% in the 4th quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock worth $136,119,470,000 after purchasing an additional 70,212,651 shares in the last quarter. Cerity Partners LLC increased its stake in Apple by 130.1% in the 4th quarter. Cerity Partners LLC now owns 9,430,190 shares of the iPhone maker’s stock worth $1,815,594,000 after purchasing an additional 5,331,439 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Apple in the 4th quarter worth about $560,388,000. Hudson Bay Capital Management LP purchased a new position in Apple in the 3rd quarter worth about $487,435,000. Finally, Barclays PLC increased its stake in Apple by 6.0% in the 3rd quarter. Barclays PLC now owns 49,759,061 shares of the iPhone maker’s stock worth $8,519,244,000 after purchasing an additional 2,826,709 shares in the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on AAPL shares. Barclays lifted their price target on Apple from $158.00 to $164.00 and gave the stock an “underweight” rating in a research note on Friday, May 3rd. Loop Capital lowered their target price on Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Canaccord Genuity Group lifted their target price on Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Saturday, May 4th. Monness Crespi & Hardt lifted their target price on Apple from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Finally, Tigress Financial lifted their target price on Apple from $240.00 to $245.00 and gave the company a “strong-buy” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.59.
View Our Latest Report on Apple
Apple Stock Up 0.5 %
AAPL opened at $192.25 on Friday. The business has a 50 day moving average price of $177.53 and a 200 day moving average price of $183.25. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $199.62. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. The firm has a market cap of $2.95 trillion, a P/E ratio of 29.90, a price-to-earnings-growth ratio of 2.33 and a beta of 1.26.
Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, topping the consensus estimate of $1.51 by $0.02. The company had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.52 EPS. Research analysts forecast that Apple Inc. will post 6.57 EPS for the current year.
Apple Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were given a $0.25 dividend. This is an increase from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 0.52%. The ex-dividend date was Friday, May 10th. Apple’s payout ratio is currently 15.55%.
Apple announced that its board has initiated a share repurchase plan on Thursday, May 2nd that permits the company to buyback $110.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to purchase up to 3.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
Insiders Place Their Bets
In other Apple news, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the transaction, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Timothy D. Cook sold 99,183 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the sale, the chief executive officer now directly owns 3,377,407 shares in the company, valued at $574,260,512.21. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 54,732 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the sale, the senior vice president now owns 136,572 shares in the company, valued at $23,068,376.52. The disclosure for this sale can be found here. Insiders have sold a total of 271,270 shares of company stock valued at $46,511,696 in the last three months. Company insiders own 0.06% of the company’s stock.
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.
See Also
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