Mill Capital Management LLC Has $137.33 Million Position in Apple Inc. (NASDAQ:AAPL)

Mill Capital Management LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 548,390 shares of the iPhone maker's stock after selling 19,499 shares during the period. Apple comprises approximately 10.9% of Mill Capital Management LLC's investment portfolio, making the stock its largest holding. Mill Capital Management LLC's holdings in Apple were worth $137,328,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Drystone LLC purchased a new stake in shares of Apple during the 4th quarter valued at approximately $25,000. Life Planning Partners Inc bought a new stake in Apple during the 4th quarter valued at $47,000. SPX Gestao de Recursos Ltda purchased a new stake in shares of Apple during the third quarter worth $71,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Apple during the third quarter worth $77,000. Finally, Pillar Financial Advisors LLC bought a new position in shares of Apple in the fourth quarter worth $82,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Apple news, 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 completion of the sale, the chief operating officer now owns 390,059 shares of the company's stock, valued at $87,377,116.59. This represents a 8.34% decrease in their position. The sale was disclosed in a filing with the SEC, 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 shares were 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 owns 3,280,295 shares in the company, valued at $733,637,976.75. The trade was a 3.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,507 shares of company stock valued at $42,694,080 in the last ninety days. Company insiders own 0.06% of the company's stock.

Apple Trading Down 0.3%

Shares of Apple stock traded down $0.54 during trading on Thursday, reaching $202.28. The company's stock had a trading volume of 29,288,934 shares, compared to its average volume of 56,013,061. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The firm's 50-day moving average is $201.99 and its two-hundred day moving average is $224.54. The company has a market cap of $3.02 trillion, a price-to-earnings ratio of 32.12, a PEG ratio of 2.44 and a beta of 1.27.

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

Apple declared that its board has approved a share 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 reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.51%. 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%.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of analyst reports. Needham & Company LLC reiterated a "hold" rating and set a $225.00 price objective on shares of Apple in a research note on Wednesday. Morgan Stanley reiterated an "overweight" rating and set a $235.00 price target on shares of Apple in a research report on Thursday. Monness Crespi & Hardt cut their price objective on shares of Apple from $260.00 to $245.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Scotiabank cut shares of Apple to a "market perform" rating in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Apple in a report on Wednesday, May 21st. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $235.80.

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.