Apple Inc. (NASDAQ:AAPL) Shares Sold by KCM Investment Advisors LLC

KCM Investment Advisors LLC trimmed its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 919,211 shares of the iPhone maker's stock after selling 9,372 shares during the quarter. Apple accounts for approximately 7.9% of KCM Investment Advisors LLC's holdings, making the stock its biggest holding. KCM Investment Advisors LLC's holdings in Apple were worth $230,189,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Resona Asset Management Co. Ltd. purchased a new position in shares of Apple in the fourth quarter worth $1,116,983,000. Wealth Advisors of Tampa Bay LLC increased its stake in shares of Apple by 0.4% in the fourth quarter. Wealth Advisors of Tampa Bay LLC now owns 45,030 shares of the iPhone maker's stock worth $11,276,000 after buying an additional 195 shares during the period. Orion Investment Co increased its position in Apple by 3.6% during the 4th quarter. Orion Investment Co now owns 14,293 shares of the iPhone maker's stock valued at $3,579,000 after purchasing an additional 500 shares during the period. Leeward Financial Partners LLC increased its position in Apple by 1.1% during the 4th quarter. Leeward Financial Partners LLC now owns 45,649 shares of the iPhone maker's stock valued at $11,431,000 after purchasing an additional 510 shares during the period. Finally, Rosenblum Silverman Sutton S F Inc. CA increased its position in Apple by 1.1% during the 4th quarter. Rosenblum Silverman Sutton S F Inc. CA now owns 8,843 shares of the iPhone maker's stock valued at $2,214,000 after purchasing an additional 95 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

Apple stock traded down $2.75 during midday trading on Friday, reaching $196.45. 51,345,532 shares of the stock traded hands, compared to its average volume of 54,742,937. The stock's fifty day moving average is $201.76 and its 200-day moving average is $223.02. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The stock has a market cap of $2.93 trillion, a P/E ratio of 31.18, a PEG ratio of 2.44 and a beta of 1.22. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. Apple had a return on equity of 160.83% and a net margin of 24.30%. The business had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same period in the prior year, the business posted $1.53 earnings per share. The company's quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.53%. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio is presently 16.20%.

Apple announced that its Board of Directors has initiated a stock 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 reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Bank of America reaffirmed a "buy" rating and issued a $235.00 target price on shares of Apple in a research report on Tuesday, June 10th. TD Cowen dropped their price target on shares of Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Morgan Stanley reiterated an "overweight" rating and issued a $235.00 price target on shares of Apple in a research note on Thursday, June 5th. Raymond James dropped their price target on shares of Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Finally, Barclays dropped their price target on shares of Apple from $197.00 to $173.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Apple has an average rating of "Moderate Buy" and an average price target of $234.86.

Insider Transactions at Apple

In other Apple news, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer now owns 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the stock in a transaction on Monday, May 12th. The shares were 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 $3,233,815.27. This trade represents a 22.41% decrease in their position. 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 currently owned by company insiders.

Apple Company 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.