Doheny Asset Management CA Has $17.03 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Doheny Asset Management CA trimmed its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,993 shares of the iPhone maker's stock after selling 1,772 shares during the quarter. Apple makes up 12.7% of Doheny Asset Management CA's portfolio, making the stock its biggest position. Doheny Asset Management CA's holdings in Apple were worth $17,027,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Natixis Advisors LLC grew its position in shares of Apple by 13.8% during the 3rd quarter. Natixis Advisors LLC now owns 7,192,453 shares of the iPhone maker's stock worth $1,675,842,000 after buying an additional 870,556 shares during the period. Paragon Advisors LLC grew its position in shares of Apple by 5.5% during the 3rd quarter. Paragon Advisors LLC now owns 7,128 shares of the iPhone maker's stock worth $1,661,000 after buying an additional 370 shares during the period. Maxwell Wealth Strategies Inc. grew its position in shares of Apple by 2.3% during the 3rd quarter. Maxwell Wealth Strategies Inc. now owns 32,444 shares of the iPhone maker's stock worth $7,250,000 after buying an additional 717 shares during the period. RIA Advisory Group LLC acquired a new position in shares of Apple during the 3rd quarter worth about $2,248,000. Finally, Heritage Investment Group Inc. grew its position in shares of Apple by 22.3% during the 3rd quarter. Heritage Investment Group Inc. now owns 21,443 shares of the iPhone maker's stock worth $4,996,000 after buying an additional 3,905 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AAPL shares. JPMorgan Chase & Co. cut their price objective on Apple from $270.00 to $245.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Monness Crespi & Hardt cut their price objective on Apple from $260.00 to $245.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. DA Davidson lifted their price objective on Apple from $230.00 to $250.00 and gave the company a "buy" rating in a report on Friday, May 2nd. China Renaissance started coverage on Apple in a report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price objective on the stock. Finally, KeyCorp upgraded Apple from an "underweight" rating to a "sector weight" rating in a report on Monday, April 14th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $235.80.

Apple Trading Up 2.5%

Apple stock traded up $4.87 during trading hours on Tuesday, hitting $200.14. The stock had a trading volume of 31,401,414 shares, compared to its average volume of 56,160,519. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The stock has a market cap of $2.99 trillion, a price-to-earnings ratio of 31.76, a P/E/G ratio of 2.44 and a beta of 1.27. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The business's 50 day simple moving average is $204.64 and its 200-day simple moving average is $225.71.

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

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 given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. 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 (DPR) is 16.20%.

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

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 108,136 shares of the firm'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 transaction, the chief executive officer now directly owns 3,280,295 shares in the company, valued at $733,637,976.75. This trade represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the transaction, the chief financial officer now owns 4,569 shares of the company's stock, valued at $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,507 shares of company stock worth $42,694,080 over the last ninety days. 0.06% of the stock is owned by insiders.

Apple 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.