Apple Inc. (NASDAQ:AAPL) Shares Sold by Jacobs & Co. CA

Jacobs & Co. CA lowered its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 245,305 shares of the iPhone maker's stock after selling 3,644 shares during the period. Apple makes up approximately 5.8% of Jacobs & Co. CA's holdings, making the stock its biggest position. Jacobs & Co. CA's holdings in Apple were worth $54,489,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AAPL. Drystone LLC bought a new position in shares of Apple in the fourth quarter worth about $25,000. Life Planning Partners Inc bought a new position in shares of Apple in the fourth quarter worth about $47,000. Conquis Financial LLC bought a new position in shares of Apple in the fourth quarter worth about $63,000. LSV Asset Management bought a new position in shares of Apple in the fourth quarter worth about $65,000. Finally, Pillar Financial Advisors LLC bought a new position in shares of Apple in the fourth quarter worth about $82,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Stock Up 0.2%

Shares of AAPL opened at $201.50 on Tuesday. The firm has a market capitalization of $3.01 trillion, a price-to-earnings ratio of 31.39, a PEG ratio of 2.24 and a beta of 1.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The business's fifty day moving average price is $202.33 and its two-hundred day moving average price is $221.12. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating 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 return on equity of 167.24% and a net margin of 24.30%. The business's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company earned $1.53 EPS. On average, analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The company also recently disclosed 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 0.52%. 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 dividend payout ratio (DPR) is presently 16.20%.

Apple declared that its board has authorized a share buyback plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. China Renaissance assumed coverage on Apple in a research note on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price target on the stock. Jefferies Financial Group restated an "underperform" rating and set a $170.62 price target (up from $167.88) on shares of Apple in a research note on Friday, May 2nd. Needham & Company LLC restated a "hold" rating on shares of Apple in a research note on Tuesday, June 10th. TD Cowen lowered their price target on Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. lowered their price target on Apple from $270.00 to $245.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Three 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's stock. Based on data from MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and a consensus price target of $234.86.

Insider Activity

In other news, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the transaction, the chief executive officer now owns 3,280,295 shares of the company's stock, valued at $733,637,976.75. This represents a 3.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the 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 completion of the transaction, the insider now directly owns 15,533 shares in the company, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,507 shares of company stock valued at $42,694,080 in the last 90 days. 0.06% of the stock is owned by company insiders.

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.

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