Palisade Asset Management LLC Acquires 2,205 Shares of Apple Inc. (AAPL)

Palisade Asset Management LLC raised its stake in Apple Inc. (NASDAQ:AAPL) by 2.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,289 shares of the iPhone maker’s stock after buying an additional 2,205 shares during the period. Apple comprises 2.2% of Palisade Asset Management LLC’s holdings, making the stock its 11th biggest holding. Palisade Asset Management LLC’s holdings in Apple were worth $14,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Kiley Juergens Wealth Management LLC increased its stake in Apple by 1.1% during the 4th quarter. Kiley Juergens Wealth Management LLC now owns 44,530 shares of the iPhone maker’s stock valued at $7,024,000 after purchasing an additional 494 shares in the last quarter. Rothschild & Co. Asset Management US Inc. increased its stake in Apple by 9.0% during the 3rd quarter. Rothschild & Co. Asset Management US Inc. now owns 304,348 shares of the iPhone maker’s stock valued at $68,704,000 after purchasing an additional 25,092 shares in the last quarter. Newman Dignan & Sheerar Inc. increased its stake in Apple by 5.2% during the 3rd quarter. Newman Dignan & Sheerar Inc. now owns 23,123 shares of the iPhone maker’s stock valued at $5,186,000 after purchasing an additional 1,142 shares in the last quarter. Dundas Partners LLP increased its stake in Apple by 28.0% during the 3rd quarter. Dundas Partners LLP now owns 43,775 shares of the iPhone maker’s stock valued at $12,083,000 after purchasing an additional 9,585 shares in the last quarter. Finally, United Capital Management of KS Inc. acquired a new position in Apple during the 3rd quarter valued at approximately $3,860,000. 57.43% of the stock is owned by institutional investors.

In related news, insider Luca Maestri sold 51,138 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $196.61, for a total transaction of $10,054,242.18. Following the completion of the sale, the insider now directly owns 27,448 shares in the company, valued at $5,396,551.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.05% of the stock is currently owned by company insiders.

Several research firms have recently commented on AAPL. BidaskClub raised shares of Apple from a “sell” rating to a “hold” rating in a report on Thursday, February 7th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Apple in a report on Monday, April 29th. Rosenblatt Securities dropped their price objective on shares of Apple from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, January 30th. Canaccord Genuity upped their price objective on shares of Apple from $185.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. Finally, New Street Research downgraded shares of Apple from a “neutral” rating to a “sell” rating and set a $170.00 price objective on the stock. in a report on Friday, April 12th. Three investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $211.43.

Shares of NASDAQ AAPL traded up $2.60 during mid-day trading on Friday, reaching $211.75. The company’s stock had a trading volume of 20,829,425 shares, compared to its average volume of 30,298,664. The stock has a market capitalization of $1,040.78 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 2.06 and a beta of 1.14. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.79. Apple Inc. has a 1-year low of $142.00 and a 1-year high of $233.47.

Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, April 30th. The iPhone maker reported $2.46 EPS for the quarter, beating the Zacks’ consensus estimate of $2.37 by $0.09. Apple had a net margin of 22.12% and a return on equity of 50.45%. The business had revenue of $58.02 billion during the quarter, compared to analysts’ expectations of $57.40 billion. During the same period in the prior year, the business earned $2.73 earnings per share. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. As a group, equities research analysts expect that Apple Inc. will post 11.35 EPS for the current year.

Apple announced that its Board of Directors has authorized a share repurchase plan on Tuesday, April 30th that authorizes the company to buyback $75.00 billion in shares. This buyback authorization authorizes the iPhone maker to repurchase up to 7.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 13th will be given a dividend of $0.77 per share. This is a boost from Apple’s previous quarterly dividend of $0.73. This represents a $3.08 annualized dividend and a yield of 1.45%. The ex-dividend date is Friday, May 10th. Apple’s dividend payout ratio (DPR) is presently 24.52%.

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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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