Apple Inc. $AAPL Stock Position Trimmed by NORTHSTAR ASSET MANAGEMENT Co LLC

Key Points

• NORTHSTAR ASSET MANAGEMENT Co LLC has reduced its position in Apple Inc. by 1.1% in the first quarter, now owning 182,512 shares valued at approximately $40.5 million.
• Apple's stock recently saw a 1.3% increase, reaching $227.76, while the company continues to hold a market capitalization of $3.38 trillion.
• Apple announced a quarterly dividend of $0.26 per share, yielding 0.5%, reflecting a payout ratio of 15.78% and reinforcing confidence in its financial stability.

NORTHSTAR ASSET MANAGEMENT Co LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 182,512 shares of the iPhone maker's stock after selling 2,010 shares during the period. Apple makes up 9.8% of NORTHSTAR ASSET MANAGEMENT Co LLC's portfolio, making the stock its 2nd biggest position. NORTHSTAR ASSET MANAGEMENT Co LLC's holdings in Apple were worth $40,541,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Advanced Portfolio Management LLC lifted its stake in shares of Apple by 0.3% during the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock worth $3,260,000 after acquiring an additional 47 shares during the last quarter. Salus Financial Advisors LLC lifted its stake in shares of Apple by 3.9% during the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker's stock worth $291,000 after acquiring an additional 49 shares during the last quarter. Disciplined Investments LLC raised its position in Apple by 0.7% during the 4th quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker's stock valued at $1,794,000 after purchasing an additional 51 shares in the last quarter. Redwood Financial Network Corp raised its position in Apple by 0.6% during the 4th quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker's stock valued at $2,184,000 after purchasing an additional 53 shares in the last quarter. Finally, Mission Hills Financial Advisory LLC raised its position in Apple by 1.3% during the 1st quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker's stock valued at $892,000 after purchasing an additional 53 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Deirdre O'brien sold 34,821 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the transaction, the senior vice president directly owned 136,687 shares in the company, valued at $30,508,538.40. The trade was a 20.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is currently owned by company insiders.

Apple Stock Up 1.3%

Shares of AAPL traded up $2.86 during trading hours on Friday, hitting $227.76. The company had a trading volume of 42,431,176 shares, compared to its average volume of 61,854,304. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company's fifty day moving average price is $212.52 and its two-hundred day moving average price is $213.09. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $3.38 trillion, a PE ratio of 34.56, a price-to-earnings-growth ratio of 2.35 and a beta of 1.16.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. During the same period in the previous year, the business earned $1.40 EPS. The firm's revenue for the quarter was up 9.6% on a year-over-year basis. As a group, equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple declared that its Board of Directors has authorized a stock buyback program on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, August 11th. Apple's payout ratio is 15.78%.

Analyst Ratings Changes

AAPL has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research report on Friday, July 25th. Raymond James Financial reaffirmed an "outperform" rating and set a $240.00 target price (up from $230.00) on shares of Apple in a research report on Friday, August 1st. JPMorgan Chase & Co. lifted their target price on Apple from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. UBS Group lifted their target price on Apple from $210.00 to $220.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Finally, Wedbush reaffirmed an "outperform" rating and set a $270.00 target price on shares of Apple in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $237.98.

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.