Apple Inc. (NASDAQ:AAPL) Shares Sold by Boston Family Office LLC

Boston Family Office LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 317,186 shares of the iPhone maker's stock after selling 1,942 shares during the quarter. Apple makes up approximately 5.5% of Boston Family Office LLC's holdings, making the stock its largest holding. Boston Family Office LLC's holdings in Apple were worth $79,430,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC grew its position in shares of Apple by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock worth $84,999,145,000 after buying an additional 6,307,413 shares in the last quarter. National Wealth Management Group LLC boosted its stake in Apple by 44.9% during the 4th quarter. National Wealth Management Group LLC now owns 10,759 shares of the iPhone maker's stock valued at $2,694,000 after acquiring an additional 3,335 shares during the last quarter. Nemes Rush Group LLC grew its holdings in Apple by 2.5% during the 4th quarter. Nemes Rush Group LLC now owns 205,967 shares of the iPhone maker's stock worth $51,578,000 after acquiring an additional 5,014 shares in the last quarter. StoneX Group Inc. increased its position in shares of Apple by 46.8% in the 4th quarter. StoneX Group Inc. now owns 186,424 shares of the iPhone maker's stock worth $46,684,000 after purchasing an additional 59,472 shares during the last quarter. Finally, Gibson Capital LLC increased its position in shares of Apple by 52.6% in the 4th quarter. Gibson Capital LLC now owns 11,374 shares of the iPhone maker's stock worth $2,848,000 after purchasing an additional 3,920 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In related news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider now directly owns 15,533 shares of the company's stock, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This trade represents a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,507 shares of company stock valued at $42,694,080. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AAPL. Monness Crespi & Hardt lifted their price target on Apple to $245.00 and gave the stock a "buy" rating in a research note on Tuesday. Jefferies Financial Group reaffirmed an "underperform" rating and set a $170.62 target price (up previously from $167.88) on shares of Apple in a report on Friday, May 2nd. Bank of America reiterated a "buy" rating and issued a $235.00 price target on shares of Apple in a report on Tuesday. Evercore ISI raised their price objective on Apple to $250.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Rosenblatt Securities lowered shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 target price for the company. in a research note on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $234.86.

Apple Price Performance

AAPL stock traded up $1.22 during trading on Tuesday, hitting $202.67. The company had a trading volume of 52,015,754 shares, compared to its average volume of 56,214,415. The business has a 50 day moving average of $200.72 and a 200 day moving average of $223.92. The firm has a market capitalization of $3.03 trillion, a price-to-earnings ratio of 32.17, a P/E/G ratio of 2.44 and a beta of 1.22. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. 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 released its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The company had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. Apple's revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.53 EPS. As a group, research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple announced that its board has approved a stock repurchase plan on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. 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 16.20%.

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.