Virtu Financial LLC Purchases 15,124 Shares of Apple Inc. (NASDAQ:AAPL)

Virtu Financial LLC increased its position in Apple Inc. (NASDAQ:AAPL) by 57.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,504 shares of the iPhone maker’s stock after purchasing an additional 15,124 shares during the period. Apple makes up 0.5% of Virtu Financial LLC’s investment portfolio, making the stock its 16th largest holding. Virtu Financial LLC’s holdings in Apple were worth $7,117,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of AAPL. Christopher J. Hasenberg Inc bought a new stake in Apple during the 1st quarter worth approximately $35,000. A.P. Gilfoyle & Co. L.P. bought a new stake in Apple during the fourth quarter worth $39,000. Gilfoyle & Co LLC raised its position in Apple by 168.0% in the 4th quarter. Gilfoyle & Co LLC now owns 268 shares of the iPhone maker’s stock valued at $52,000 after buying an additional 168 shares during the last quarter. University of Texas Texas AM Investment Managment Co. lifted its stake in Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after acquiring an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. purchased a new position in Apple during the 4th quarter worth $85,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AAPL shares. Canaccord Genuity Group increased their target price on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Erste Group Bank upgraded shares of Apple from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Canaccord Genuity Group boosted their target price on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Saturday, May 4th. UBS Group reaffirmed a “neutral” rating and set a $190.00 price target on shares of Apple in a research report on Monday, July 1st. Finally, Evercore ISI reiterated a “buy” rating and set a $250.00 price target on shares of Apple in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $233.63.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $224.53 on Friday. The company has a 50 day moving average of $220.03 and a 200 day moving average of $194.13. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The stock has a market cap of $3.44 trillion, a P/E ratio of 34.92, a P/E/G ratio of 2.60 and a beta of 1.24. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating the consensus estimate of $1.34 by $0.06. The firm had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 145.35%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $1.26 EPS. As a group, sell-side analysts forecast that Apple Inc. will post 6.61 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date was Monday, August 12th. Apple’s payout ratio is 15.55%.

Apple announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in shares. This repurchase authorization authorizes the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the sale, the director now owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the transaction, the director now owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. Insiders have sold 188,884 shares of company stock worth $38,092,387 in the last ninety days. 0.06% of the stock is currently owned by insiders.

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.