Apple Inc. (NASDAQ:AAPL) is Yarbrough Capital LLC's Largest Position

Yarbrough Capital LLC cut its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 6.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,797,645 shares of the iPhone maker's stock after selling 121,009 shares during the quarter. Apple makes up 17.1% of Yarbrough Capital LLC's investment portfolio, making the stock its largest position. Yarbrough Capital LLC's holdings in Apple were worth $399,311,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Burkett Financial Services LLC grew its holdings in shares of Apple by 0.6% during the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock worth $3,199,000 after buying an additional 93 shares in the last quarter. OneAscent Wealth Management LLC grew its holdings in shares of Apple by 4.6% during the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock worth $2,337,000 after buying an additional 409 shares in the last quarter. TruWealth Advisors LLC grew its holdings in shares of Apple by 2.8% during the first quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker's stock worth $42,045,000 after buying an additional 5,120 shares in the last quarter. Allstate Corp grew its holdings in shares of Apple by 3,368.2% during the fourth quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock worth $113,062,000 after buying an additional 438,471 shares in the last quarter. Finally, Vinva Investment Management Ltd grew its holdings in shares of Apple by 12.4% during the fourth quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker's stock worth $192,700,000 after buying an additional 83,997 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Trading Down 1.7%

Apple stock opened at $209.95 on Tuesday. The firm's 50-day moving average is $203.34 and its 200-day moving average is $218.13. 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 1 year low of $169.21 and a 1 year high of $260.10. The company has a market cap of $3.14 trillion, a P/E ratio of 32.70, a PEG ratio of 2.38 and a beta of 1.20.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The company had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same period last year, the firm posted $1.53 EPS. The company's revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple announced that its Board of Directors has authorized a share repurchase program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.50%. Apple's dividend payout ratio (DPR) is currently 16.20%.

Insider Activity

In related news, CFO Kevan Parekh sold 4,570 shares of Apple 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 sale, the chief financial officer directly owned 4,569 shares in the company, valued at $941,214. This trade represents a 50.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of Apple 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 sale, the insider owned 15,533 shares in the company, valued at approximately $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. Company insiders own 0.06% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wedbush reaffirmed an "outperform" rating and set a $270.00 price target on shares of Apple in a research report on Tuesday, June 10th. China Renaissance assumed coverage on shares of Apple in a research report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price target for the company. DA Davidson upped their price target on shares of Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Rosenblatt Securities lowered shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target for the company. in a research report on Friday, May 2nd. Finally, Monness Crespi & Hardt upped their price target on shares of Apple to $245.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Apple has a consensus rating of "Moderate Buy" and a consensus target price of $234.95.

About Apple

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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