Apple Inc. (NASDAQ:AAPL) Shares Sold by RWWM Inc.

RWWM Inc. decreased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 14.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,352 shares of the iPhone maker's stock after selling 1,750 shares during the quarter. Apple accounts for about 0.2% of RWWM Inc.'s investment portfolio, making the stock its 15th largest holding. RWWM Inc.'s holdings in Apple were worth $2,299,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Advanced Portfolio Management LLC boosted its stake in shares of Apple by 0.3% during the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock worth $3,260,000 after acquiring an additional 47 shares during the period. Family Capital Management Inc. lifted its holdings in Apple by 0.3% during the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock worth $4,235,000 after purchasing an additional 48 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in Apple by 0.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock valued at $4,178,000 after acquiring an additional 48 shares in the last quarter. Scarborough Advisors LLC raised its holdings in Apple by 0.3% in the 4th quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock valued at $3,992,000 after acquiring an additional 51 shares in the last quarter. Finally, Disciplined Investments LLC raised its holdings in Apple by 0.7% in the 4th quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker's stock valued at $1,794,000 after acquiring an additional 51 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. UBS Group reiterated a "hold" rating on shares of Apple in a research report on Friday. Rosenblatt Securities downgraded Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target on the stock. in a research note on Friday, May 2nd. KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. China Renaissance initiated coverage on Apple in a report on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 target price for the company. Finally, Scotiabank lowered Apple to a "market perform" rating in a report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $235.11.

Apple Stock Performance

AAPL traded up $1.16 during mid-day trading on Friday, reaching $211.18. 48,647,642 shares of the company traded hands, compared to its average volume of 53,145,744. The stock has a market capitalization of $3.15 trillion, a P/E ratio of 32.89, a P/E/G ratio of 2.36 and a beta of 1.20. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. The company's fifty day moving average price is $204.57 and its 200-day moving average price is $215.61. 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 released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 167.24% and a net margin of 24.30%. The firm's revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $1.53 earnings per share. On average, sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current year.

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 $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.49%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is currently 16.20%.

Apple announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Insider Activity

In other Apple news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction dated 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 sale, the insider owned 15,533 shares of the company's stock, valued at $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the sale, the chief financial officer owned 4,569 shares of the company's stock, valued at $941,214. The trade was a 50.01% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.06% of the company's stock.

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.