Apple Inc. (NASDAQ:AAPL) Stock Position Decreased by ST Germain D J Co. Inc.

ST Germain D J Co. Inc. reduced its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 16.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 439,189 shares of the iPhone maker's stock after selling 84,904 shares during the quarter. Apple comprises about 4.6% of ST Germain D J Co. Inc.'s holdings, making the stock its 2nd biggest holding. ST Germain D J Co. Inc.'s holdings in Apple were worth $97,557,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in Apple during the fourth quarter worth about $46,868,648,000. GAMMA Investing LLC boosted its position in shares of Apple by 25,934.1% during the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker's stock valued at $133,425,490,000 after acquiring an additional 59,835,676 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Apple by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after acquiring an additional 49,168,843 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in shares of Apple by 23,555.4% during the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock worth $5,272,653,000 after purchasing an additional 20,966,232 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Trading Up 1.3%

Shares of AAPL stock traded up $2.65 during trading hours on Tuesday, reaching $207.82. The company's stock had a trading volume of 78,634,226 shares, compared to its average volume of 53,588,359. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The stock has a market capitalization of $3.10 trillion, a P/E ratio of 28.94, a P/E/G ratio of 2.29 and a beta of 1.20. The firm's fifty day simple moving average is $202.85 and its 200 day simple moving average is $219.53.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly 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 company had revenue of $95.36 billion during 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 firm's revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.53 earnings per share. Equities research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its Board of Directors has approved a stock 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 repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

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 paid a dividend of $0.26 per share. 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. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.50%. Apple's payout ratio is presently 16.20%.

Insider Buying and Selling

In other news, CEO Timothy D. Cook sold 108,136 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the sale, the chief executive officer directly owned 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider directly owned 15,533 shares of the company's stock, valued at $3,233,815.27. This represents a 22.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,507 shares of company stock valued at $42,694,080 over the last quarter. 0.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Raymond James Financial dropped their target price on shares of Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Jefferies Financial Group upgraded shares of Apple from an "underperform" rating to a "hold" rating and raised their price objective for the company from $170.62 to $188.32 in a research report on Tuesday. TD Cowen cut their target price on shares of Apple from $290.00 to $275.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Finally, UBS Group restated a "buy" rating on shares of Apple in a research report on Sunday, June 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $234.95.

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.