Apple Inc. (NASDAQ:AAPL) Shares Sold by Aljian Capital Management LLC

Aljian Capital Management LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 308,353 shares of the iPhone maker's stock after selling 2,811 shares during the quarter. Apple comprises approximately 16.3% of Aljian Capital Management LLC's investment portfolio, making the stock its biggest holding. Aljian Capital Management LLC's holdings in Apple were worth $68,494,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Life Planning Partners Inc purchased a new stake in Apple in the fourth quarter valued at $47,000. Conquis Financial LLC purchased a new stake in Apple in the fourth quarter valued at $63,000. LSV Asset Management purchased a new stake in Apple in the fourth quarter valued at $65,000. Pillar Financial Advisors LLC purchased a new stake in Apple in the fourth quarter valued at $82,000. Finally, Compass Planning Associates Inc purchased a new stake in Apple in the fourth quarter valued at $96,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. UBS Group upped their price target on shares of Apple from $210.00 to $220.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research report on Friday, July 25th. Barclays upped their price objective on shares of Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a research report on Friday, August 1st. BMO Capital Markets reiterated a "buy" rating on shares of Apple in a research report on Wednesday. Finally, Citigroup upped their price objective on shares of Apple from $240.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $237.60.

Apple Price Performance

AAPL stock traded down $1.19 during mid-day trading on Friday, reaching $231.59. The company's stock had a trading volume of 56,003,275 shares, compared to its average volume of 63,552,584. The stock has a market cap of $3.44 trillion, a PE ratio of 35.14, a P/E/G ratio of 2.44 and a beta of 1.16. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company's 50 day moving average is $209.69 and its two-hundred day moving average is $213.33.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The company had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple's quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.40 EPS. Equities research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple's dividend payout ratio (DPR) is currently 15.78%.

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

Insider Activity

In other news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the sale, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is owned by corporate insiders.

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.