Bosun Asset Management LLC Sells 7,960 Shares of Apple Inc. (NASDAQ:AAPL)

Bosun Asset Management LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 30.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,102 shares of the iPhone maker's stock after selling 7,960 shares during the period. Apple accounts for about 2.0% of Bosun Asset Management LLC's holdings, making the stock its 6th biggest holding. Bosun Asset Management LLC's holdings in Apple were worth $4,533,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legacy Wealth Management LLC MS grew its holdings in shares of Apple by 7.6% in the third quarter. Legacy Wealth Management LLC MS now owns 73,945 shares of the iPhone maker's stock valued at $17,229,000 after purchasing an additional 5,231 shares in the last quarter. SMART Wealth LLC grew its holdings in shares of Apple by 3.6% in the third quarter. SMART Wealth LLC now owns 14,580 shares of the iPhone maker's stock valued at $3,397,000 after purchasing an additional 507 shares in the last quarter. SK Wealth Management LLC acquired a new position in shares of Apple in the third quarter valued at approximately $3,304,000. Penney Financial LLC grew its holdings in shares of Apple by 1.6% in the third quarter. Penney Financial LLC now owns 7,852 shares of the iPhone maker's stock valued at $1,829,000 after purchasing an additional 124 shares in the last quarter. Finally, Global Wealth Strategies & Associates grew its holdings in shares of Apple by 7.9% in the fourth quarter. Global Wealth Strategies & Associates now owns 11,509 shares of the iPhone maker's stock valued at $2,882,000 after purchasing an additional 838 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the sale, the insider now directly owns 15,533 shares in the company, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. 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 firm's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the sale, the chief financial officer now owns 4,569 shares in the company, valued at $941,214. The trade was a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is owned by insiders.

Apple Stock Performance

Apple stock traded down $2.78 during mid-day trading on Tuesday, reaching $195.64. The company's stock had a trading volume of 38,432,354 shares, compared to its average volume of 54,632,706. The firm has a market cap of $2.92 trillion, a price-to-earnings ratio of 31.05, a PEG ratio of 2.44 and a beta of 1.22. The business has a 50 day moving average price of $202.28 and a 200-day moving average price of $222.66. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The firm's revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.53 earnings per share. Sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

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

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. This is a boost 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 (DPR) is presently 16.20%.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research reports. Barclays dropped their price objective on shares of Apple from $197.00 to $173.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Evercore ISI boosted their price target on shares of Apple to $250.00 and gave the stock a "buy" rating in a report on Friday, June 6th. JPMorgan Chase & Co. reduced their price objective on shares of Apple from $270.00 to $245.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. The Goldman Sachs Group restated a "buy" rating on shares of Apple in a research report on Wednesday, May 21st. Finally, Citigroup restated a "buy" rating on shares of Apple in a research report on Tuesday, June 10th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Apple has an average rating of "Moderate Buy" and a consensus target price of $234.86.

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.