Apple Inc. (NASDAQ:AAPL) Shares Sold by Global Financial Private Client LLC

Global Financial Private Client LLC lowered its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 8.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 65,911 shares of the iPhone maker's stock after selling 5,823 shares during the quarter. Apple makes up about 5.6% of Global Financial Private Client LLC's holdings, making the stock its biggest position. Global Financial Private Client LLC's holdings in Apple were worth $14,641,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Drystone LLC acquired a new position in shares of Apple in the fourth quarter valued at approximately $25,000. Life Planning Partners Inc purchased a new stake in Apple in the 4th quarter worth approximately $47,000. Conquis Financial LLC acquired a new position in Apple in the 4th quarter valued at $63,000. LSV Asset Management purchased a new position in shares of Apple during the 4th quarter worth $65,000. Finally, Pillar Financial Advisors LLC acquired a new stake in shares of Apple during the fourth quarter worth $82,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the sale, the insider now directly owns 15,533 shares of the company's stock, valued at $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the transaction, the chief operating officer now owns 390,059 shares in the company, valued at $87,377,116.59. This trade represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Scotiabank lowered Apple to a "market perform" rating in a research note on Friday, May 2nd. UBS Group reiterated a "buy" rating on shares of Apple in a report on Sunday, June 1st. Monness Crespi & Hardt boosted their target price on shares of Apple to $245.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Wedbush reaffirmed an "outperform" rating and set a $270.00 price target on shares of Apple in a research note on Tuesday, June 10th. Finally, KeyCorp upgraded shares of Apple from an "underweight" rating to a "sector weight" rating in a report on Monday, April 14th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $234.39.

Apple Stock Up 0.0%

Shares of NASDAQ AAPL traded up $0.08 during trading on Friday, reaching $201.08. 73,093,456 shares of the stock were exchanged, compared to its average volume of 53,477,308. The company has a market capitalization of $3.00 trillion, a price-to-earnings ratio of 31.32, a price-to-earnings-growth ratio of 2.24 and a beta of 1.22. The business's 50-day moving average price is $202.52 and its 200 day moving average price is $220.53. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm's revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.53 EPS. As a group, equities analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Apple Increases Dividend

The firm also recently announced 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 a positive change from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple's payout ratio is presently 16.20%.

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.