Dfpg Investments Inc. acquired a new position in Apple Inc. (NASDAQ:AAPL) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 21,912 shares of the iPhone maker’s stock, valued at approximately $3,456,000. Apple makes up 4.6% of Dfpg Investments Inc.’s portfolio, making the stock its largest position.
A number of other institutional investors have also made changes to their positions in AAPL. Morgan Stanley lifted its stake in Apple by 9.7% in the 3rd quarter. Morgan Stanley now owns 39,188,032 shares of the iPhone maker’s stock worth $8,846,307,000 after acquiring an additional 3,452,792 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Apple by 18.8% during the 3rd quarter. Janus Henderson Group PLC now owns 20,833,222 shares of the iPhone maker’s stock worth $4,703,027,000 after purchasing an additional 3,293,674 shares in the last quarter. Federated Investors Inc. PA raised its stake in shares of Apple by 88.4% during the 3rd quarter. Federated Investors Inc. PA now owns 1,192,947 shares of the iPhone maker’s stock worth $269,295,000 after purchasing an additional 559,737 shares in the last quarter. Artemis Investment Management LLP raised its stake in shares of Apple by 279.3% during the 3rd quarter. Artemis Investment Management LLP now owns 617,946 shares of the iPhone maker’s stock worth $139,510,000 after purchasing an additional 455,045 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Apple by 1.8% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 26,144,522 shares of the iPhone maker’s stock worth $5,901,864,000 after purchasing an additional 454,086 shares in the last quarter. 57.36% of the stock is owned by hedge funds and other institutional investors.
In other news, COO Jeffrey E. Williams sold 56,411 shares of Apple stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $210.36, for a total transaction of $11,866,617.96. Following the sale, the chief operating officer now owns 151,187 shares of the company’s stock, valued at approximately $31,803,697.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arthur D. Levinson sold 35,000 shares of Apple stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $210.86, for a total value of $7,380,100.00. Following the sale, the director now directly owns 1,168,283 shares in the company, valued at approximately $246,344,153.38. The disclosure for this sale can be found here. Insiders sold a total of 142,549 shares of company stock worth $29,300,960 in the last ninety days. Insiders own 0.05% of the company’s stock.
A number of research firms have recently weighed in on AAPL. BidaskClub raised Apple from a “sell” rating to a “hold” rating in a research note on Thursday, February 7th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $230.00 price target on shares of Apple in a research note on Monday, April 29th. Rosenblatt Securities cut their price target on Apple from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, January 30th. Canaccord Genuity raised their price target on Apple from $185.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, March 26th. Finally, New Street Research downgraded Apple from a “neutral” rating to a “sell” rating and set a $170.00 price target for the company. in a research note on Friday, April 12th. Three analysts have rated the stock with a sell rating, twenty-three have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Apple currently has an average rating of “Hold” and a consensus target price of $211.25.
AAPL traded down $3.82 during midday trading on Wednesday, reaching $182.78. The company’s stock had a trading volume of 27,219,410 shares, compared to its average volume of 30,940,857. The firm has a market capitalization of $928.96 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 1.60 and a beta of 1.14. The company has a quick ratio of 1.26, a current ratio of 1.32 and a debt-to-equity ratio of 0.85. Apple Inc. has a twelve month low of $142.00 and a twelve month high of $233.47.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, April 30th. The iPhone maker reported $2.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.37 by $0.09. The firm had revenue of $58.02 billion for the quarter, compared to analyst estimates of $57.40 billion. Apple had a return on equity of 51.29% and a net margin of 22.12%. The company’s revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.73 EPS. As a group, analysts anticipate that Apple Inc. will post 11.48 earnings per share for the current year.
Apple announced that its Board of Directors has authorized a stock buyback program on Tuesday, April 30th that permits the company to buyback $75.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to buy up to 7.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were issued a $0.77 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.08 dividend on an annualized basis and a yield of 1.69%. This is a positive change from Apple’s previous quarterly dividend of $0.73. Apple’s dividend payout ratio (DPR) is 25.86%.
WARNING: This article was originally posted by Sundance Herald and is the sole property of of Sundance Herald. If you are accessing this article on another publication, it was copied illegally and reposted in violation of US and international copyright & trademark laws. The correct version of this article can be viewed at https://sundanceherald.com/2019/05/22/dfpg-investments-inc-purchases-shares-of-21912-apple-inc-aapl.html.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
Featured Story: How do CD ladders protect against rising interest rates?
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.