GenWealth Group Inc. Purchases Shares of 2,936 Apple (AAPL)
GenWealth Group Inc. purchased a new position in shares of Apple (NASDAQ:AAPL) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 2,936 shares of the iPhone maker’s stock, valued at approximately $519,000.
Other large investors have also recently made changes to their positions in the company. Truepoint Inc. lifted its stake in Apple by 15,559.4% in the 3rd quarter. Truepoint Inc. now owns 4,436,774 shares of the iPhone maker’s stock valued at $4,437,000 after buying an additional 4,408,441 shares in the last quarter. Harding Loevner LP lifted its stake in Apple by 784,734.3% in the 3rd quarter. Harding Loevner LP now owns 3,296,304 shares of the iPhone maker’s stock valued at $188,966,000 after buying an additional 3,295,884 shares in the last quarter. Atlantic Trust Group LLC lifted its stake in Apple by 36.2% in the 3rd quarter. Atlantic Trust Group LLC now owns 3,641,534 shares of the iPhone maker’s stock valued at $561,233,000 after buying an additional 968,385 shares in the last quarter. DnB Asset Management AS lifted its stake in Apple by 57.5% in the 4th quarter. DnB Asset Management AS now owns 1,591,868 shares of the iPhone maker’s stock valued at $269,392,000 after buying an additional 581,318 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in Apple by 3.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 19,262,302 shares of the iPhone maker’s stock valued at $3,259,868,000 after buying an additional 570,279 shares in the last quarter. 60.93% of the stock is currently owned by institutional investors and hedge funds.
Shares of Apple opened at $186.99 on Friday, MarketBeat Ratings reports. The company has a current ratio of 1.46, a quick ratio of 1.37 and a debt-to-equity ratio of 0.80. Apple has a one year low of $185.68 and a one year high of $188.37. The stock has a market cap of $954.83 billion, a PE ratio of 18.16, a P/E/G ratio of 1.40 and a beta of 1.26.
Apple declared that its Board of Directors has initiated a share buyback program on Tuesday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 11.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Thursday, May 17th. Stockholders of record on Monday, May 14th were given a dividend of $0.73 per share. This is a boost from Apple’s previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 11th. This represents a $2.92 annualized dividend and a dividend yield of 1.56%. Apple’s dividend payout ratio (DPR) is presently 31.70%.
In other Apple news, insider Philip W. Schiller sold 69,491 shares of the firm’s stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $166.42, for a total value of $11,564,692.22. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Daniel J. Riccio sold 17,375 shares of the firm’s stock in a transaction dated Wednesday, April 4th. The stock was sold at an average price of $169.12, for a total transaction of $2,938,460.00. Following the completion of the transaction, the senior vice president now directly owns 66,191 shares in the company, valued at approximately $11,194,221.92. The disclosure for this sale can be found here. Insiders have sold 214,869 shares of company stock worth $37,493,244 in the last ninety days. Corporate insiders own 0.08% of the company’s stock.
A number of equities research analysts recently issued reports on the company. Atlantic Securities reaffirmed a “neutral” rating and issued a $185.00 target price on shares of Apple in a research note on Wednesday, May 2nd. Zacks Investment Research upgraded Apple from a “sell” rating to a “hold” rating in a report on Thursday, May 3rd. Barclays boosted their price target on Apple from $157.00 to $161.00 and gave the company a “neutral” rating in a report on Wednesday, May 2nd. Morningstar set a $175.00 price target on Apple and gave the company a “neutral” rating in a report on Wednesday, May 2nd. Finally, Canaccord Genuity boosted their price target on Apple from $200.00 to $208.00 and gave the company a “buy” rating in a report on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, thirty-three have issued a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $204.00.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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