Apple Inc. (NASDAQ:AAPL) Shares Sold by Congress Park Capital LLC

Congress Park Capital LLC cut its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 9.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,805 shares of the iPhone maker's stock after selling 4,166 shares during the period. Apple accounts for 3.2% of Congress Park Capital LLC's holdings, making the stock its 9th biggest holding. Congress Park Capital LLC's holdings in Apple were worth $8,398,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Segment Wealth Management LLC grew its holdings in shares of Apple by 3.0% in the first quarter. Segment Wealth Management LLC now owns 152,498 shares of the iPhone maker's stock worth $33,874,000 after purchasing an additional 4,453 shares during the last quarter. Riverwater Partners LLC raised its stake in shares of Apple by 67.9% during the first quarter. Riverwater Partners LLC now owns 4,585 shares of the iPhone maker's stock valued at $1,018,000 after acquiring an additional 1,854 shares in the last quarter. Shelton Wealth Management LLC grew its position in shares of Apple by 1.4% during the 1st quarter. Shelton Wealth Management LLC now owns 7,063 shares of the iPhone maker's stock worth $1,569,000 after buying an additional 97 shares in the last quarter. Stableford Capital II LLC grew its position in shares of Apple by 4.1% during the 1st quarter. Stableford Capital II LLC now owns 17,807 shares of the iPhone maker's stock worth $3,955,000 after buying an additional 701 shares in the last quarter. Finally, Abundance Wealth Counselors grew its position in shares of Apple by 1.1% during the 1st quarter. Abundance Wealth Counselors now owns 57,647 shares of the iPhone maker's stock worth $12,666,000 after buying an additional 613 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Down 2.2%

NASDAQ AAPL traded down $4.62 on Friday, hitting $202.95. 46,370,982 shares of the stock were exchanged, compared to its average volume of 56,587,043. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. The company has a market capitalization of $3.03 trillion, a price-to-earnings ratio of 31.63, a P/E/G ratio of 2.30 and a beta of 1.20. The company's 50-day moving average price is $205.22 and its two-hundred day moving average price is $213.98.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm had revenue of $94.04 billion for the quarter, compared to analysts' expectations of $88.64 billion. During the same period in the previous year, the company posted $1.40 EPS. The company's quarterly revenue was up 9.6% compared to the same quarter last year. Research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its board has initiated a stock repurchase plan 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, August 11th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. Apple's dividend payout ratio is currently 16.20%.

Insider Activity at Apple

In other news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider directly owned 15,533 shares in the company, valued at $3,233,815.27. The trade was a 22.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Morgan Stanley raised their price objective on Apple from $235.00 to $240.00 and gave the company an "overweight" rating in a research report on Friday. Loop Capital dropped their target price on Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Evercore ISI raised their target price on Apple to $250.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Wedbush reissued an "outperform" rating and issued a $270.00 price objective on shares of Apple in a report on Wednesday. Finally, DA Davidson lifted their price target on Apple from $230.00 to $250.00 and gave the stock 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 assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $237.25.

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.