Free Trial

New Hampshire Trust Lowers Holdings in Apple Inc. (NASDAQ:AAPL)

Apple logo with Computer and Technology background

New Hampshire Trust lessened its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 120,412 shares of the iPhone maker's stock after selling 6,929 shares during the quarter. Apple accounts for 6.1% of New Hampshire Trust's investment portfolio, making the stock its 2nd biggest position. New Hampshire Trust's holdings in Apple were worth $26,747,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in AAPL. Advanced Portfolio Management LLC boosted its position in Apple by 0.3% during the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock valued at $3,260,000 after purchasing an additional 47 shares during the period. Hanseatic Management Services Inc. lifted its stake in Apple by 1.3% in the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock valued at $945,000 after buying an additional 48 shares during the last quarter. Family Capital Management Inc. boosted its holdings in shares of Apple by 0.3% during the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock valued at $4,235,000 after acquiring an additional 48 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in shares of Apple by 0.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock valued at $4,178,000 after acquiring an additional 48 shares during the period. Finally, Scarborough Advisors LLC grew its position in shares of Apple by 0.3% during the fourth quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock worth $3,992,000 after acquiring an additional 51 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Insider Transactions at Apple

In other news, COO Jeffrey E. Williams sold 35,493 shares of Apple stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the sale, the chief operating officer owned 390,059 shares of the company's stock, valued at approximately $87,377,116.59. This trade represents a 8.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 38,822 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the transaction, the senior vice president owned 179,158 shares of the company's stock, valued at $40,072,269.86. The trade was a 17.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is currently owned by company insiders.

Apple Stock Performance

Shares of AAPL traded up $4.09 during mid-day trading on Monday, hitting $205.17. The company's stock had a trading volume of 91,511,325 shares, compared to its average volume of 53,514,808. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The stock's 50-day moving average is $202.85 and its two-hundred day moving average is $219.53. The firm has a market capitalization of $3.06 trillion, a PE ratio of 31.96, a price-to-earnings-growth ratio of 2.25 and a beta of 1.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.03. The company had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business's quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the business posted $1.53 EPS. As a group, sell-side analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its board has authorized a share buyback plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.51%. This is a positive change from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple's payout ratio is currently 16.20%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. TD Cowen cut their price objective on shares of Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Barclays set a $173.00 price target on Apple and gave the company an "underweight" rating in a report on Tuesday, June 24th. Tigress Financial increased their price objective on Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a report on Thursday, April 3rd. DA Davidson lifted their target price on Apple from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a report on Tuesday, June 10th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $234.39.

View Our Latest Stock Analysis on AAPL

About Apple

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Should You Invest $1,000 in Apple Right Now?

Before you consider Apple, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Apple wasn't on the list.

While Apple currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Beginner's Guide To Retirement Stocks Cover

Enter your email address and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Related Videos

Magnificent 7 Stocks Shift Toward Stability and Selective Growth
3 Tech Stocks to Buy Now—And 3 You’ll Regret Keeping

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines