Dfpg Investments Inc. Acquires Shares of 21,912 Apple Inc. (NASDAQ:AAPL)

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%.

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Apple Profile

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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