Apple Inc. $AAPL Position Lowered by Callahan Advisors LLC

Callahan Advisors LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 162,656 shares of the iPhone maker's stock after selling 7,724 shares during the quarter. Apple accounts for approximately 3.4% of Callahan Advisors LLC's portfolio, making the stock its 5th biggest position. Callahan Advisors LLC's holdings in Apple were worth $36,131,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AAPL. Advanced Portfolio Management LLC lifted its holdings in shares of Apple by 0.3% in the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock worth $3,260,000 after purchasing an additional 47 shares during the last quarter. Salus Financial Advisors LLC lifted its holdings in shares of Apple by 3.9% in the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker's stock worth $291,000 after purchasing an additional 49 shares during the last quarter. Disciplined Investments LLC raised its stake 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 acquiring an additional 51 shares in the last quarter. Sharpepoint LLC raised its stake in Apple by 3.5% during the 1st quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker's stock valued at $322,000 after acquiring an additional 51 shares in the last quarter. Finally, Redwood Financial Network Corp raised its stake 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 acquiring an additional 53 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

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

Analysts Set New Price Targets

Several analysts have weighed in on the company. Monness Crespi & Hardt lifted their target price on Apple from $245.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Barclays lifted their target price on Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research note on Friday, August 1st. DA Davidson reissued a "buy" rating and issued a $250.00 price objective on shares of Apple in a research note on Friday, August 1st. Wedbush reissued an "outperform" rating and issued a $270.00 price objective on shares of Apple in a research note on Thursday, August 7th. Finally, Rosenblatt Securities reissued a "neutral" rating and issued a $217.00 price objective on shares of Apple in a research note on Tuesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $237.37.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $232.56 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $3.45 trillion, a price-to-earnings ratio of 35.29, a PEG ratio of 2.41 and a beta of 1.16. The stock's fifty day simple moving average is $215.17 and its 200 day simple moving average is $213.08. 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 issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter in the previous year, the company posted $1.40 earnings per share. Apple's revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

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

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple's payout ratio is currently 15.78%.

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.

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