Amica Mutual Insurance Co. Sells 12,264 Shares of Apple Inc. (NASDAQ:AAPL)

Amica Mutual Insurance Co. lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 5.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 218,741 shares of the iPhone maker's stock after selling 12,264 shares during the quarter. Apple makes up 5.6% of Amica Mutual Insurance Co.'s holdings, making the stock its 3rd largest position. Amica Mutual Insurance Co.'s holdings in Apple were worth $54,777,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Apple by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after acquiring an additional 49,168,843 shares in the last quarter. State Street Corp increased its holdings in shares of Apple by 10.6% in the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock valued at $136,074,372,000 after purchasing an additional 55,935,105 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Apple by 6.5% in the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock valued at $77,542,863,000 after purchasing an additional 20,483,787 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Apple by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 98,099,411 shares of the iPhone maker's stock valued at $24,566,054,000 after purchasing an additional 3,156,680 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Apple by 1.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,568,390 shares of the iPhone maker's stock valued at $21,335,435,000 after purchasing an additional 1,742,087 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. DA Davidson increased their price target on Apple from $230.00 to $250.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Loop Capital cut their price target on Apple from $230.00 to $215.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Evercore ISI increased their price target on Apple to $250.00 and gave the company a "buy" rating in a report on Friday. Tigress Financial increased their price target on Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a report on Thursday, April 3rd. Finally, Rosenblatt Securities cut Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target for the company. in a report on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and an average target price of $235.02.

Apple Trading Up 1.6%

Shares of NASDAQ AAPL traded up $3.29 during trading on Friday, reaching $203.92. The stock had a trading volume of 46,477,335 shares, compared to its average volume of 56,154,463. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. 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 business's 50-day moving average price is $201.17 and its 200-day moving average price is $224.15. The company has a market cap of $3.05 trillion, a P/E ratio of 32.37, a PEG ratio of 2.44 and a beta of 1.22.

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

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors 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 dividend on an annualized basis and a yield of 0.51%. Apple's dividend payout ratio (DPR) is 16.20%.

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

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the sale, the insider now directly owns 15,533 shares of the company's stock, valued at $3,233,815.27. The trade was a 22.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey E. Williams sold 35,493 shares of Apple stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the sale, 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. Over the last three months, insiders sold 191,507 shares of company stock worth $42,694,080. Company insiders own 0.06% of the company's stock.

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.