Apple Inc. (NASDAQ:AAPL) Shares Sold by Ulland Investment Advisors LLC

Ulland Investment Advisors LLC cut its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 58.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,542 shares of the iPhone maker's stock after selling 20,505 shares during the quarter. Apple comprises about 2.7% of Ulland Investment Advisors LLC's investment portfolio, making the stock its 15th biggest position. Ulland Investment Advisors LLC's holdings in Apple were worth $3,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in AAPL. Norges Bank purchased a new position in Apple in the fourth quarter valued at about $46,868,648,000. GAMMA Investing LLC increased its position in shares of Apple by 25,934.1% during the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker's stock worth $133,425,490,000 after acquiring an additional 59,835,676 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Apple by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock worth $349,532,608,000 after acquiring an additional 49,168,843 shares during the last quarter. Proficio Capital Partners LLC increased its position 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 acquiring an additional 20,966,232 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after acquiring an additional 20,079,472 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

Shares of Apple stock opened at $211.16 on Monday. The firm has a market cap of $3.15 trillion, a price-to-earnings ratio of 32.89, a price-to-earnings-growth ratio of 2.36 and a beta of 1.20. The stock's 50-day moving average is $203.39 and its 200-day moving average is $216.83. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. 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 (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. The company had revenue of $95.36 billion for 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 company's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.53 earnings per share. Equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.49%. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is currently 16.20%.

Apple announced that its board has initiated a share repurchase plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Analyst Ratings Changes

AAPL has been the topic of a number of analyst reports. China Renaissance initiated coverage on Apple in a research report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 target price on the stock. KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a report on Monday, April 14th. Scotiabank lowered Apple to a "market perform" rating in a report on Friday, May 2nd. Monness Crespi & Hardt boosted their price objective on Apple to $245.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Apple in a report on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $235.27.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction dated 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 owned 15,533 shares of the company's stock, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction dated 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 directly owned 4,569 shares in the company, valued at approximately $941,214. This represents a 50.01% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

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.

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