Apple Inc. (NASDAQ:AAPL) Shares Sold by Amica Retiree Medical Trust

Amica Retiree Medical Trust lessened its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 10.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,086 shares of the iPhone maker's stock after selling 2,872 shares during the quarter. Apple comprises approximately 5.7% of Amica Retiree Medical Trust's holdings, making the stock its 2nd biggest holding. Amica Retiree Medical Trust's holdings in Apple were worth $6,032,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AAPL. Vinva Investment Management Ltd raised its stake in shares of Apple by 12.4% in the 4th quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker's stock valued at $192,700,000 after acquiring an additional 83,997 shares during the period. Safe Harbor Fiduciary LLC purchased a new position in shares of Apple in the 3rd quarter valued at $4,972,000. SYM FINANCIAL Corp raised its stake in shares of Apple by 6.3% in the 3rd quarter. SYM FINANCIAL Corp now owns 28,626 shares of the iPhone maker's stock valued at $6,670,000 after acquiring an additional 1,695 shares during the period. Tradewinds Capital Management LLC raised its stake in shares of Apple by 9.2% in the 4th quarter. Tradewinds Capital Management LLC now owns 21,198 shares of the iPhone maker's stock valued at $5,308,000 after acquiring an additional 1,779 shares during the period. Finally, Berkshire Bank raised its stake in shares of Apple by 2.7% in the 4th quarter. Berkshire Bank now owns 89,580 shares of the iPhone maker's stock valued at $22,433,000 after acquiring an additional 2,360 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Stock Performance

Shares of NASDAQ AAPL traded up $3.29 during midday trading on Friday, hitting $203.92. The company's stock had a trading volume of 46,477,335 shares, compared to its average volume of 56,154,463. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The firm's fifty day moving average price is $201.17 and its 200-day moving average price is $224.15. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The firm has a market cap of $3.05 trillion, a P/E ratio of 32.37, a P/E/G ratio of 2.44 and a beta of 1.22.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 160.83%. The business had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. During the same period in the previous year, the business posted $1.53 EPS. The company's quarterly revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a $0.26 dividend. The ex-dividend date was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.51%. Apple's payout ratio is 16.20%.

Apple declared that its board has initiated a share repurchase plan on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have recently commented on AAPL shares. Bank of America cut their target price on shares of Apple from $250.00 to $240.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. UBS Group reaffirmed a "buy" rating on shares of Apple in a research note on Sunday, June 1st. Loop Capital dropped their price target on shares of Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Jefferies Financial Group reaffirmed an "underperform" rating and set a $170.62 price target (up previously from $167.88) on shares of Apple in a research note on Friday, May 2nd. Finally, Tigress Financial lifted their price target on shares of Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a research note on Thursday, April 3rd. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and an average price target of $235.02.

Insider Activity

In other news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the transaction, the insider now directly owns 15,533 shares of the company's stock, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of Apple stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the transaction, the chief operating officer now directly owns 390,059 shares of the company's stock, valued at $87,377,116.59. This trade represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 191,507 shares of company stock valued at $42,694,080. Company insiders own 0.06% of the company's stock.

About Apple

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.