Apple Inc. (NASDAQ:AAPL) Position Decreased by Lindbrook Capital LLC

Lindbrook Capital LLC cut its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 6.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 248,302 shares of the iPhone maker's stock after selling 16,020 shares during the period. Apple makes up about 5.6% of Lindbrook Capital LLC's holdings, making the stock its 3rd largest holding. Lindbrook Capital LLC's holdings in Apple were worth $62,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Carmel Capital Partners LLC increased its holdings in shares of Apple by 1.0% during the 4th quarter. Carmel Capital Partners LLC now owns 10,819 shares of the iPhone maker's stock worth $2,709,000 after buying an additional 103 shares during the last quarter. McDonough Capital Management Inc grew its position in Apple by 2.6% in the fourth quarter. McDonough Capital Management Inc now owns 75,801 shares of the iPhone maker's stock worth $18,982,000 after acquiring an additional 1,913 shares during the period. Black Swift Group LLC increased its stake in Apple by 9.8% during the fourth quarter. Black Swift Group LLC now owns 11,253 shares of the iPhone maker's stock worth $2,818,000 after acquiring an additional 1,004 shares during the last quarter. Promus Capital LLC purchased a new stake in Apple in the fourth quarter valued at $1,621,000. Finally, First Business Financial Services Inc. lifted its stake in shares of Apple by 1.0% in the 4th quarter. First Business Financial Services Inc. now owns 58,728 shares of the iPhone maker's stock valued at $14,707,000 after purchasing an additional 584 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Buying and Selling at Apple

In related news, SVP Katherine L. Adams sold 38,822 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the sale, the senior vice president now owns 179,158 shares in the company, valued at $40,072,269.86. This represents a 17.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the sale, the chief executive officer now owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. This represents a 3.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,507 shares of company stock worth $42,694,080 over the last 90 days. Corporate insiders own 0.06% of the company's stock.

Apple Stock Down 0.1%

AAPL stock traded down $0.19 during trading on Friday, hitting $211.26. 53,614,750 shares of the company's stock were exchanged, compared to its average volume of 55,938,270. The business has a 50-day moving average price of $206.09 and a two-hundred day moving average price of $226.68. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $3.16 trillion, a price-to-earnings ratio of 33.53, a PEG ratio of 2.44 and a beta of 1.27. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10.

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. The company had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $1.53 earnings per share. As a group, equities research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its board has approved a stock buyback plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. Apple's payout ratio is 16.20%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AAPL. DA Davidson raised their price objective on Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Citigroup reiterated a "cautious" rating on shares of Apple in a research report on Monday, May 5th. Tigress Financial boosted their price target on shares of Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a research note on Thursday, April 3rd. KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Finally, Bank of America cut their target price on Apple from $250.00 to $240.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $235.80.

Apple 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.