Sava Infond d.o.o. Sells 15,780 Shares of Apple Inc. (NASDAQ:AAPL)

Sava Infond d.o.o. decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 14.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 94,690 shares of the iPhone maker's stock after selling 15,780 shares during the quarter. Apple comprises about 4.0% of Sava Infond d.o.o.'s investment portfolio, making the stock its 5th largest position. Sava Infond d.o.o.'s holdings in Apple were worth $21,033,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Conquis Financial LLC purchased a new stake in shares of Apple during the fourth quarter valued at about $63,000. LSV Asset Management purchased a new stake in shares of Apple during the fourth quarter valued at about $65,000. Pillar Financial Advisors LLC purchased a new stake in shares of Apple during the fourth quarter valued at about $82,000. Compass Planning Associates Inc purchased a new position in shares of Apple in the 4th quarter valued at approximately $96,000. Finally, Collier Financial purchased a new position in shares of Apple in the 4th quarter valued at approximately $140,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on AAPL. JPMorgan Chase & Co. increased their price objective on shares of Apple from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. TD Cowen cut their price target on shares of Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Jefferies Financial Group raised shares of Apple from an "underperform" rating to a "hold" rating in a research report on Friday, July 18th. Raymond James Financial reissued an "outperform" rating and set a $240.00 price target (up from $230.00) on shares of Apple in a research report on Friday, August 1st. Finally, Rosenblatt Securities reissued a "neutral" rating and set a $217.00 price target on shares of Apple in a research report on Tuesday, July 29th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Apple currently has an average rating of "Moderate Buy" and a consensus target price of $237.25.

Apple Trading Up 5.0%

Shares of NASDAQ AAPL traded up $10.20 on Wednesday, reaching $213.12. 102,898,971 shares of the company traded hands, compared to its average volume of 57,348,797. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a 50 day moving average of $205.58 and a 200 day moving average of $213.24. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $3.16 trillion, a PE ratio of 32.34, a P/E/G ratio of 2.14 and a beta of 1.16.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company's revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.40 EPS. On average, equities research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 11th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, August 11th. Apple's dividend payout ratio is currently 15.78%.

Apple declared that its Board of Directors has approved a share repurchase plan on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are usually 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 stock in a transaction 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 sale, the insider directly 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 filing with the Securities & Exchange Commission, which is available at this link. Corporate 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.