Apple Inc. (NASDAQ:AAPL) Position Increased by Allied Investment Advisors LLC

Allied Investment Advisors LLC grew its stake in Apple Inc. (NASDAQ:AAPL) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,976 shares of the iPhone maker’s stock after buying an additional 2,166 shares during the period. Apple accounts for 3.4% of Allied Investment Advisors LLC’s holdings, making the stock its 6th biggest position. Allied Investment Advisors LLC’s holdings in Apple were worth $14,229,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in AAPL. Conservest Capital Advisors Inc. increased its stake in shares of Apple by 0.3% in the third quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock valued at $2,877,000 after purchasing an additional 55 shares during the period. Flagstone Financial Management lifted its position in Apple by 0.9% in the fourth quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock worth $1,173,000 after purchasing an additional 56 shares during the period. High Pines Wealth Management LLC lifted its holdings in shares of Apple by 0.7% in the fourth quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock valued at $1,638,000 after buying an additional 58 shares during the period. Asset Planning Corporation boosted its position in shares of Apple by 1.0% during the 4th quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock valued at $1,181,000 after purchasing an additional 59 shares in the last quarter. Finally, Columbus Macro LLC grew its stake in shares of Apple by 0.5% in the 4th quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock worth $2,120,000 after purchasing an additional 59 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Trading Up 0.4 %

NASDAQ:AAPL opened at $209.07 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The company’s 50 day moving average is $189.37 and its 200-day moving average is $184.94. The firm has a market cap of $3.21 trillion, a price-to-earnings ratio of 32.51, a P/E/G ratio of 2.52 and a beta of 1.25. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $220.20.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The firm had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. The business’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.52 EPS. Equities analysts anticipate that Apple Inc. will post 6.58 EPS for the current year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were paid a dividend of $0.25 per share. This is an increase from Apple’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.00 annualized dividend and a yield of 0.48%. Apple’s dividend payout ratio is presently 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.

Analyst Upgrades and Downgrades

AAPL has been the subject of several recent research reports. UBS Group reissued a “neutral” rating and set a $190.00 target price on shares of Apple in a research note on Tuesday, June 11th. Tigress Financial upped their target price on Apple from $240.00 to $245.00 and gave the company a “strong-buy” rating in a report on Thursday, May 30th. Bank of America restated a “buy” rating and set a $230.00 price objective on shares of Apple in a report on Wednesday, June 12th. Canaccord Genuity Group raised their target price on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, Melius Research boosted their price target on shares of Apple from $227.00 to $260.00 and gave the company a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $212.46.

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 99,183 shares of the 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 completion of the sale, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Timothy D. Cook sold 99,183 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the transaction, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the sale, the senior vice president now owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The disclosure for this sale can be found here. Insiders have sold a total of 346,270 shares of company stock valued at $60,880,196 in the last three months. Company insiders own 0.06% of the company’s stock.

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.