Accordant Advisory Group Inc Makes New $1.83 Million Investment in Apple Inc. (NASDAQ:AAPL)

Accordant Advisory Group Inc purchased a new position in shares of Apple Inc. (NASDAQ:AAPL) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 10,648 shares of the iPhone maker’s stock, valued at approximately $1,826,000. Apple makes up 1.4% of Accordant Advisory Group Inc’s investment portfolio, making the stock its 24th largest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wyrmwood Management LLC raised its stake in shares of Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 69 shares in the last quarter. A.P. Gilfoyle & Co. L.P. purchased a new stake in shares of Apple during the 4th quarter worth about $39,000. Gilfoyle & Co LLC raised its stake in shares of Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after acquiring an additional 118 shares in the last quarter. University of Texas Texas AM Investment Managment Co. raised its stake in shares of Apple by 657.1% in the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after acquiring an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. bought a new position in shares of Apple in the 4th quarter valued at approximately $85,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

AAPL stock traded down $0.59 during trading on Friday, hitting $169.30. The company had a trading volume of 44,717,137 shares, compared to its average volume of 53,363,952. The company has a fifty day moving average price of $173.04 and a two-hundred day moving average price of $181.83. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28. The company has a market cap of $2.61 trillion, a P/E ratio of 26.37, a P/E/G ratio of 2.04 and a beta of 1.27. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $199.62.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. The company had revenue of $119.60 billion for the quarter, compared to analyst estimates of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.88 earnings per share. Equities research analysts expect that Apple Inc. will post 6.54 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Friday, February 9th. Apple’s dividend payout ratio is currently 14.95%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Redburn Atlantic downgraded Apple from a “buy” rating to a “neutral” rating and set a $200.00 price objective on the stock. in a research note on Wednesday, January 10th. Maxim Group assumed coverage on Apple in a research note on Wednesday, April 17th. They issued a “hold” rating and a $178.00 price objective on the stock. DZ Bank reissued a “hold” rating and issued a $180.00 price objective on shares of Apple in a research note on Thursday, March 28th. Wedbush reissued an “outperform” rating and issued a $250.00 price objective on shares of Apple in a research note on Tuesday, April 9th. Finally, The Goldman Sachs Group raised their price objective on Apple from $223.00 to $232.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $203.05.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 54,732 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the transaction, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Apple news, SVP Deirdre O’brien sold 54,732 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the transaction, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Arthur D. Levinson sold 100,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the transaction, the director now directly owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 366,271 shares of company stock valued at $63,653,887. 0.06% of the stock is currently owned by corporate insiders.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.