Apple Inc. (NASDAQ:AAPL) is Principal Street Partners LLC's 2nd Largest Position

Principal Street Partners LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 49.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 109,340 shares of the iPhone maker's stock after selling 105,968 shares during the quarter. Apple makes up about 5.4% of Principal Street Partners LLC's investment portfolio, making the stock its 2nd largest holding. Principal Street Partners LLC's holdings in Apple were worth $27,381,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Drystone LLC acquired a new position in shares of Apple during the 4th quarter worth about $25,000. Life Planning Partners Inc bought a new position in Apple in the 4th quarter worth approximately $47,000. Conquis Financial LLC bought a new position in Apple in the 4th quarter worth approximately $63,000. LSV Asset Management acquired a new position in Apple during the 4th quarter valued at $65,000. Finally, Pillar Financial Advisors LLC bought a new stake in Apple in the 4th quarter valued at $82,000. Institutional investors own 67.73% of the company's stock.

Insider Activity

In other Apple news, CEO Timothy D. Cook sold 108,136 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the transaction, the chief executive officer now owns 3,280,295 shares of the company's stock, valued at $733,637,976.75. The trade was a 3.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction that occurred 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 191,507 shares of company stock worth $42,694,080 in the last quarter. Corporate insiders own 0.06% of the company's stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $195.64 on Wednesday. The stock has a market capitalization of $2.92 trillion, a price-to-earnings ratio of 30.47, a PEG ratio of 2.22 and a beta of 1.22. The business has a 50-day moving average of $202.21 and a 200-day moving average of $222.47. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.

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

Apple declared that its board has approved a stock repurchase plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Apple Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AAPL. Tigress Financial increased their price objective on shares of Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a research note on Thursday, April 3rd. Citigroup reiterated a "buy" rating on shares of Apple in a research report on Tuesday, June 10th. Rosenblatt Securities cut shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 target price for the company. in a research report on Friday, May 2nd. TD Cowen lowered their price objective on shares of Apple from $290.00 to $275.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, UBS Group restated a "buy" rating on shares of Apple in a research report on Sunday, June 1st. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $234.86.

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.

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