Apple Inc. (NASDAQ:AAPL) is Curbstone Financial Management Corp's 6th Largest Position

Curbstone Financial Management Corp decreased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 6.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,845 shares of the iPhone maker's stock after selling 4,168 shares during the period. Apple makes up approximately 3.0% of Curbstone Financial Management Corp's investment portfolio, making the stock its 6th biggest position. Curbstone Financial Management Corp's holdings in Apple were worth $14,404,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Apple during the 4th quarter valued at about $46,868,648,000. GAMMA Investing LLC increased its stake in Apple by 25,934.1% during the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker's stock worth $133,425,490,000 after acquiring an additional 59,835,676 shares during the last quarter. Vanguard Group Inc. raised its position in Apple by 3.7% during 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 purchasing an additional 49,168,843 shares during the period. Proficio Capital Partners LLC lifted its stake in shares of Apple by 23,555.4% in the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock valued at $5,272,653,000 after purchasing an additional 20,966,232 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares during the period. 67.73% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the transaction, the insider directly owned 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kevan Parekh sold 4,570 shares of the business's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the transaction, the chief financial officer owned 4,569 shares of the company's stock, valued at $941,214. This represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

AAPL has been the subject of a number of analyst reports. KeyCorp upgraded Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Barclays set a $173.00 target price on shares of Apple and gave the stock an "underweight" rating in a report on Tuesday, June 24th. TD Cowen cut their price target on shares of Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Wedbush reissued an "outperform" rating and issued a $270.00 price objective on shares of Apple in a research note on Wednesday, July 9th. Finally, Bank of America reaffirmed a "buy" rating and set a $235.00 target price on shares of Apple in a research note on Tuesday, June 10th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $235.27.

Apple Stock Down 1.2%

Shares of Apple stock traded down $2.54 on Monday, reaching $208.62. The stock had a trading volume of 38,677,443 shares, compared to its average volume of 57,464,684. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a 50 day moving average price of $203.39 and a 200 day moving average price of $216.83. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $3.12 trillion, a P/E ratio of 32.50, a P/E/G ratio of 2.36 and a beta of 1.20.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate 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 167.24% and a net margin of 24.30%. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.53 EPS. As a group, equities research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

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

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.50%. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio is presently 16.20%.

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.