Marco Investment Management LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 379,900 shares of the iPhone maker’s stock after purchasing an additional 14,750 shares during the quarter. Apple accounts for approximately 6.1% of Marco Investment Management LLC’s portfolio, making the stock its largest holding. Marco Investment Management LLC’s holdings in Apple were worth $46,405,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Clear Perspectives Financial Planning LLC acquired a new stake in shares of Apple during the 4th quarter worth approximately $27,000. EMC Capital Management acquired a new stake in shares of Apple during the 4th quarter worth approximately $80,000. Lloyd Advisory Services LLC. grew its stake in shares of Apple by 20.1% during the 4th quarter. Lloyd Advisory Services LLC. now owns 760 shares of the iPhone maker’s stock worth $101,000 after purchasing an additional 127 shares during the period. Hoese & Co LLP acquired a new stake in shares of Apple during the 4th quarter worth approximately $106,000. Finally, Park Capital Group acquired a new stake in shares of Apple during the 4th quarter worth approximately $127,000. 56.33% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on AAPL shares. Raymond James lifted their price target on shares of Apple from $160.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, April 29th. Canaccord Genuity lifted their price target on shares of Apple from $155.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, May 5th. UBS Group set a $155.00 price target on shares of Apple and gave the company a “buy” rating in a research note on Thursday, May 20th. Wedbush lifted their price target on shares of Apple from $175.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, April 29th. Finally, Evercore ISI lifted their price target on shares of Apple from $163.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, March 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-six have issued a buy rating to the stock. Apple currently has a consensus rating of “Buy” and a consensus target price of $148.91.
Shares of NASDAQ:AAPL opened at $127.35 on Friday. The business’s 50-day simple moving average is $128.75. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 1.57. The firm has a market cap of $2.13 trillion, a P/E ratio of 28.59, a price-to-earnings-growth ratio of 1.91 and a beta of 1.21. Apple Inc. has a 12-month low of $83.14 and a 12-month high of $145.09.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, April 27th. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.41. The firm had revenue of $89.58 billion during the quarter, compared to the consensus estimate of $76.84 billion. Apple had a return on equity of 111.80% and a net margin of 23.45%. The company’s quarterly revenue was up 53.6% on a year-over-year basis. During the same period last year, the company earned $0.64 EPS. On average, sell-side analysts expect that Apple Inc. will post 5.17 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 13th. Investors of record on Monday, May 10th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.69%. This is an increase from Apple’s previous quarterly dividend of $0.21. The ex-dividend date was Friday, May 7th. Apple’s dividend payout ratio (DPR) is presently 26.83%.
In other Apple news, CFO Luca Maestri sold 121,072 shares of Apple stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $132.81, for a total value of $16,079,572.32. Following the completion of the transaction, the chief financial officer now directly owns 143,961 shares of the company’s stock, valued at approximately $19,119,460.41. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 17,000 shares of Apple stock in a transaction dated Monday, May 3rd. The shares were sold at an average price of $132.80, for a total value of $2,257,600.00. Following the completion of the transaction, the senior vice president now directly owns 333,044 shares of the company’s stock, valued at $44,228,243.20. The disclosure for this sale can be found here. Insiders have sold a total of 290,155 shares of company stock valued at $37,610,735 over the last three months. Corporate insiders own 0.06% of the company’s stock.
Apple Profile
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.
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