Apple Inc. $AAPL Stock Position Decreased by Stonebridge Capital Management Inc.

Stonebridge Capital Management Inc. cut its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 86,688 shares of the iPhone maker's stock after selling 4,100 shares during the quarter. Apple comprises approximately 8.3% of Stonebridge Capital Management Inc.'s portfolio, making the stock its 2nd biggest position. Stonebridge Capital Management Inc.'s holdings in Apple were worth $19,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Life Planning Partners Inc bought a new position in shares of Apple during the fourth quarter valued at $47,000. Elite Financial Inc. bought a new stake in Apple in the 1st quarter worth about $58,000. Conquis Financial LLC bought a new stake in Apple in the 4th quarter worth about $63,000. LSV Asset Management bought a new stake in Apple in the 4th quarter worth about $65,000. Finally, Pillar Financial Advisors LLC bought a new stake in Apple in the 4th quarter worth about $82,000. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction dated 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 of the company's stock, valued at $30,508,538.40. The trade was a 20.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

Shares of Apple stock traded up $4.22 on Friday, hitting $234.25. 13,048,038 shares of the company's stock were exchanged, compared to its average volume of 56,618,750. The company has a 50-day simple moving average of $221.08 and a 200-day simple moving average of $212.48. The stock has a market capitalization of $3.48 trillion, a PE ratio of 35.50, a PEG ratio of 2.37 and a beta of 1.11. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

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, topping the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to analysts' expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company's revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.40 EPS. As a group, equities analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts recently commented on AAPL shares. Phillip Securities downgraded Apple from a "hold" rating to a "moderate sell" rating and set a $200.00 price objective for the company. in a report on Thursday. Citigroup reiterated a "buy" rating on shares of Apple in a report on Wednesday. Morgan Stanley set a $240.00 price objective on Apple and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Moffett Nathanson upgraded Apple from a "sell" rating to a "neutral" rating and set a $225.00 price objective for the company in a report on Thursday, September 4th. Finally, Loop Capital reduced their price objective on Apple from $230.00 to $226.00 and set a "hold" rating for the company in a report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $240.80.

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.