Attessa Capital LLC Has $1.20 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Attessa Capital LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 36.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,381 shares of the iPhone maker's stock after purchasing an additional 1,446 shares during the quarter. Apple accounts for 0.8% of Attessa Capital LLC's portfolio, making the stock its 19th largest holding. Attessa Capital LLC's holdings in Apple were worth $1,195,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Tallon Kerry Patrick bought a new position in Apple in the 4th quarter valued at $1,877,000. First National Bank of Hutchinson raised its position in Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after purchasing an additional 6,982 shares during the last quarter. Capital & Planning LLC raised its position in Apple by 10.7% in the 4th quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker's stock valued at $6,836,000 after purchasing an additional 2,647 shares during the last quarter. MBM Wealth Consultants LLC raised its position in Apple by 1.5% in the 4th quarter. MBM Wealth Consultants LLC now owns 15,035 shares of the iPhone maker's stock valued at $3,666,000 after purchasing an additional 227 shares during the last quarter. Finally, West Branch Capital LLC raised its position in Apple by 1.3% in the 4th quarter. West Branch Capital LLC now owns 154,737 shares of the iPhone maker's stock valued at $38,749,000 after purchasing an additional 1,995 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Trading Down 0.6%

NASDAQ:AAPL traded down $1.25 on Friday, reaching $211.16. The company's stock had a trading volume of 39,713,698 shares, compared to its average volume of 53,392,240. Apple Inc. has a 1-year low of $169.21 and a 1-year 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 has a market cap of $3.15 trillion, a PE ratio of 32.89, a PEG ratio of 2.36 and a beta of 1.20. The business's 50-day moving average price is $203.27 and its two-hundred day moving average price is $217.73.

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

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. This is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple's payout ratio is presently 16.20%.

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

Analysts Set New Price Targets

Several equities analysts have issued reports on AAPL shares. China Renaissance started coverage on Apple in a research report on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 price objective for the company. Bank of America reiterated a "buy" rating and issued a $235.00 price objective on shares of Apple in a research report on Tuesday, June 10th. Jefferies Financial Group upgraded Apple from an "underperform" rating to a "hold" rating and lifted their price objective for the company from $170.62 to $188.32 in a research report on Tuesday, July 1st. Citigroup reiterated a "buy" rating on shares of Apple in a research report on Tuesday, June 10th. Finally, TD Cowen dropped their target price on Apple from $290.00 to $275.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $235.27.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the transaction, the chief financial officer directly owned 4,569 shares of the company's stock, valued at $941,214. This represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

About Apple

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.