Apple Inc. (NASDAQ:AAPL) is Amalgamated Bank's Largest Position

Amalgamated Bank cut its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,135,179 shares of the iPhone maker's stock after selling 66,014 shares during the period. Apple makes up about 6.4% of Amalgamated Bank's portfolio, making the stock its largest holding. Amalgamated Bank's holdings in Apple were worth $785,112,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Strategent Financial LLC acquired a new position in shares of Apple during the 4th quarter worth about $441,000. Continuum Wealth Advisors LLC lifted its holdings in Apple by 14.1% in the 4th quarter. Continuum Wealth Advisors LLC now owns 2,141 shares of the iPhone maker's stock valued at $536,000 after purchasing an additional 265 shares in the last quarter. Exchange Capital Management Inc. grew its holdings in shares of Apple by 24.9% during the fourth quarter. Exchange Capital Management Inc. now owns 33,033 shares of the iPhone maker's stock worth $8,272,000 after buying an additional 6,592 shares in the last quarter. Twin Peaks Wealth Advisors LLC boosted its holdings in shares of Apple by 10.3% during the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 65,563 shares of the iPhone maker's stock worth $16,418,000 after purchasing an additional 6,101 shares during the last quarter. Finally, TruNorth Capital Management LLC grew its position in shares of Apple by 47.0% in the fourth quarter. TruNorth Capital Management LLC now owns 14,451 shares of the iPhone maker's stock valued at $3,619,000 after purchasing an additional 4,621 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Up 0.0 %

Shares of NASDAQ AAPL traded up $0.03 during midday trading on Tuesday, hitting $198.92. 49,654,320 shares of the company's stock were exchanged, compared to its average volume of 56,219,123. The firm's fifty day simple moving average is $211.32 and its 200-day simple moving average is $228.33. The company has a market cap of $2.99 trillion, a PE ratio of 31.57, a P/E/G ratio of 2.44 and a beta of 1.27. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 160.83%. The company had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. During the same quarter last year, the company earned $1.53 earnings per share. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. Research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 12th will be issued a dividend of $0.26 per share. This is a positive change from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. Apple's dividend payout ratio (DPR) is presently 16.20%.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 38,822 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the transaction, the senior vice president now directly owns 179,158 shares in the company, valued at approximately $40,072,269.86. This trade represents a 17.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the sale, the chief financial officer now owns 4,569 shares of the company's stock, valued at approximately $941,214. This trade represents a 50.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 187,021 shares of company stock worth $41,760,140. Corporate insiders own 0.06% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on AAPL shares. Jefferies Financial Group reissued an "underperform" rating and set a $170.62 price objective (up previously from $167.88) on shares of Apple in a research note on Friday. Citigroup reissued a "cautious" rating on shares of Apple in a research report on Monday. Rosenblatt Securities lowered shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 target price on the stock. in a report on Friday. Tigress Financial raised their price target on shares of Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a report on Thursday, April 3rd. Finally, Evercore ISI upped their price objective on Apple from $260.00 to $275.00 and gave the company an "outperform" rating in a report on Tuesday, March 18th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $235.80.

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.