Apple Inc. (NASDAQ:AAPL) is Campbell Newman Asset Management Inc.'s Largest Position

Campbell Newman Asset Management Inc. lessened its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 347,575 shares of the iPhone maker's stock after selling 11,990 shares during the quarter. Apple accounts for about 6.6% of Campbell Newman Asset Management Inc.'s holdings, making the stock its biggest holding. Campbell Newman Asset Management Inc.'s holdings in Apple were worth $77,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of AAPL. Destiny Capital Corp CO acquired a new stake in Apple during the first quarter worth approximately $229,000. Matauro LLC increased its holdings in shares of Apple by 25.7% in the 1st quarter. Matauro LLC now owns 33,917 shares of the iPhone maker's stock valued at $7,534,000 after acquiring an additional 6,941 shares during the period. Goldstone Financial Group LLC increased its holdings in shares of Apple by 25.1% in the 1st quarter. Goldstone Financial Group LLC now owns 29,763 shares of the iPhone maker's stock valued at $6,611,000 after acquiring an additional 5,977 shares during the period. Steele Capital Management Inc. grew its position in Apple by 0.7% in the 1st quarter. Steele Capital Management Inc. now owns 132,832 shares of the iPhone maker's stock valued at $29,506,000 after buying an additional 954 shares during the last quarter. Finally, Kelly Financial Group LLC grew its position in Apple by 278.2% in the 1st quarter. Kelly Financial Group LLC now owns 32,281 shares of the iPhone maker's stock valued at $7,171,000 after buying an additional 23,745 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AAPL shares. Rosenblatt Securities lowered shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 target price on the stock. in a research report on Friday, May 2nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research note on Tuesday, June 10th. KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Monness Crespi & Hardt increased their target price on Apple to $245.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Finally, DA Davidson increased 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. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $235.11.

Apple Stock Performance

Apple stock opened at $210.02 on Friday. The company has a 50 day moving average price of $204.32 and a 200-day moving average price of $216.12. 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 Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a market capitalization of $3.14 trillion, a PE ratio of 32.71, a P/E/G ratio of 2.35 and a beta of 1.20.

Apple (NASDAQ:AAPL - Get Free Report) last released 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. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same period in the previous year, the company earned $1.53 earnings per share. The business's revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.50%. This is a positive change 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 declared that its board has approved a stock buyback program on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

Insider Activity

In related news, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the transaction, the chief financial officer directly owned 4,569 shares of the company's stock, valued at approximately $941,214. This trade represents a 50.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction dated 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 in the company, valued at $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.

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