Apple Inc. (NASDAQ:AAPL) Shares Sold by Objective Capital Management LLC

Objective Capital Management LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 22.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 31,855 shares of the iPhone maker's stock after selling 9,256 shares during the period. Apple makes up approximately 5.3% of Objective Capital Management LLC's holdings, making the stock its 2nd biggest holding. Objective Capital Management LLC's holdings in Apple were worth $7,977,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. OneAscent Wealth Management LLC raised its holdings in Apple by 4.6% during the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock worth $2,337,000 after buying an additional 409 shares during the period. Allstate Corp raised its holdings in shares of Apple by 3,368.2% in the fourth quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock valued at $113,062,000 after purchasing an additional 438,471 shares during the last quarter. Vinva Investment Management Ltd raised its holdings in shares of Apple by 12.4% in the fourth quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker's stock valued at $192,700,000 after purchasing an additional 83,997 shares during the last quarter. Tradewinds Capital Management LLC raised its holdings in shares of Apple by 9.2% in the fourth quarter. Tradewinds Capital Management LLC now owns 21,198 shares of the iPhone maker's stock valued at $5,308,000 after purchasing an additional 1,779 shares during the last quarter. Finally, Berkshire Bank raised its holdings in shares of Apple by 2.7% in the fourth quarter. Berkshire Bank now owns 89,580 shares of the iPhone maker's stock valued at $22,433,000 after purchasing an additional 2,360 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of recent research reports. The Goldman Sachs Group reiterated a "buy" rating on shares of Apple in a report on Wednesday, May 21st. Monness Crespi & Hardt lifted their price objective on shares of Apple to $245.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. DA Davidson boosted their target price on shares of Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Wedbush restated an "outperform" rating and set a $270.00 target price on shares of Apple in a report on Tuesday, June 10th. Finally, Barclays lowered their target price on shares of Apple from $197.00 to $173.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Apple presently has an average rating of "Moderate Buy" and a consensus price target of $234.86.

Apple Price Performance

AAPL traded down $1.20 on Tuesday, hitting $200.30. 53,951,325 shares of the stock were exchanged, compared to its average volume of 53,512,318. The firm has a market capitalization of $2.99 trillion, a price-to-earnings ratio of 31.20, a PEG ratio of 2.25 and a beta of 1.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The business has a 50-day moving average of $202.33 and a two-hundred day moving average of $221.12.

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, topping analysts' consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.53 earnings per share. Sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a $0.26 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is 16.20%.

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

Insider Transactions at Apple

In other news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was 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 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 filing with the SEC, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the transaction, the chief operating officer now directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 191,507 shares of company stock valued at $42,694,080. 0.06% of the stock is currently owned by 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.