Apple Inc. (NASDAQ:AAPL) Stake Decreased by Neville Rodie & Shaw Inc.

Neville Rodie & Shaw Inc. lessened its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 568,959 shares of the iPhone maker's stock after selling 32,269 shares during the quarter. Apple makes up about 9.9% of Neville Rodie & Shaw Inc.'s investment portfolio, making the stock its largest holding. Neville Rodie & Shaw Inc.'s holdings in Apple were worth $126,383,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Advanced Portfolio Management LLC grew its holdings in shares of Apple by 0.3% in the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock valued at $3,260,000 after purchasing an additional 47 shares in the last quarter. Hanseatic Management Services Inc. boosted its position in Apple by 1.3% in the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock valued at $945,000 after buying an additional 48 shares during the period. Family Capital Management Inc. grew its stake in shares of Apple by 0.3% in the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock worth $4,235,000 after acquiring an additional 48 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its position in shares of Apple by 0.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock worth $4,178,000 after acquiring an additional 48 shares during the period. Finally, Scarborough Advisors LLC raised its stake in shares of Apple by 0.3% in the fourth 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. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Performance

Shares of AAPL opened at $201.50 on Tuesday. The firm has a market cap of $3.01 trillion, a P/E ratio of 31.39, a PEG ratio of 2.24 and a beta of 1.22. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The firm's 50 day moving average price is $202.33 and its two-hundred day moving average price is $221.12.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same quarter in the previous year, the firm posted $1.53 earnings per share. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a dividend of $0.26 per share. The ex-dividend date was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.52%. Apple's payout ratio is 16.20%.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. cut their price target on Apple from $270.00 to $245.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Rosenblatt Securities lowered shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 target price on the stock. in a research note on Friday, May 2nd. Raymond James Financial decreased their price target on shares of Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. DA Davidson boosted their price target on shares of Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, Bank of America restated a "buy" rating and issued a $235.00 price objective on shares of Apple in a report on Tuesday, June 10th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $234.86.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction 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 now directly owns 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the sale, the senior vice president now owns 179,158 shares of the company's stock, valued at approximately $40,072,269.86. This represents a 17.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,507 shares of company stock worth $42,694,080 in the last three months. Insiders own 0.06% of the company's stock.

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.

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