72,000 Shares in Apple Inc. $AAPL Bought by Arrowpoint Investment Partners Singapore Pte. Ltd.

Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new position in Apple Inc. (NASDAQ:AAPLFree Report) in the fourth quarter, Holdings Channel.com reports. The firm bought 72,000 shares of the iPhone maker’s stock, valued at approximately $19,574,000. Apple comprises about 2.9% of Arrowpoint Investment Partners Singapore Pte. Ltd.’s holdings, making the stock its 10th largest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Overbrook Management Corp increased its stake in shares of Apple by 57.4% in the 4th quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker’s stock valued at $28,449,000 after acquiring an additional 38,174 shares in the last quarter. Tufton Capital Management boosted its holdings in Apple by 4.3% during the 3rd quarter. Tufton Capital Management now owns 100,130 shares of the iPhone maker’s stock worth $25,496,000 after acquiring an additional 4,157 shares during the last quarter. Torren Management LLC bought a new position in Apple during the fourth quarter valued at about $1,178,000. KBC Group NV grew its position in Apple by 3.1% during the fourth quarter. KBC Group NV now owns 7,044,697 shares of the iPhone maker’s stock valued at $1,915,172,000 after buying an additional 214,215 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its position in Apple by 5.5% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 2,246,305 shares of the iPhone maker’s stock worth $572,168,000 after purchasing an additional 116,960 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

In other Apple news, insider Ben Borders sold 1,274 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of the transaction, the insider owned 38,713 shares of the company’s stock, valued at approximately $11,226,770. The trade was a 3.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 64,949 shares of the business’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total value of $16,511,984.27. Following the completion of the transaction, the chief executive officer directly owned 3,280,418 shares of the company’s stock, valued at approximately $833,980,668.14. This trade represents a 1.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 97,759 shares of company stock worth $24,964,305 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Sanford C. Bernstein reissued an “outperform” rating on shares of Apple in a report on Monday. Wells Fargo & Company reissued an “overweight” rating and issued a $310.00 price target (up from $300.00) on shares of Apple in a report on Friday, May 1st. Tigress Financial reissued a “strong-buy” rating and issued a $375.00 price target (up from $305.00) on shares of Apple in a report on Thursday, May 14th. Evercore reiterated an “outperform” rating on shares of Apple in a report on Monday. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $276.00 price target on shares of Apple in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $314.59.

Check Out Our Latest Analysis on AAPL

Apple Price Performance

AAPL opened at $291.58 on Thursday. Apple Inc. has a 1 year low of $195.07 and a 1 year high of $317.40. The stock has a 50-day moving average price of $284.09 and a 200-day moving average price of $271.97. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The firm has a market cap of $4.28 trillion, a PE ratio of 35.26, a P/E/G ratio of 2.53 and a beta of 1.09.

Apple (NASDAQ:AAPLGet Free Report) last issued its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. During the same quarter in the previous year, the firm earned $1.65 EPS. Apple’s revenue was up 16.6% on a year-over-year basis. Sell-side analysts predict that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were given a $0.27 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. Apple’s payout ratio is presently 13.06%.

Apple News Summary

Here are the key news stories impacting Apple this week:

Apple Profile

(Free Report)

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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