Apple Inc. (NASDAQ:AAPL) Stock Holdings Cut by Arthur M. Cohen & Associates LLC

Arthur M. Cohen & Associates LLC lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 176,011 shares of the iPhone maker's stock after selling 2,021 shares during the quarter. Apple makes up approximately 7.5% of Arthur M. Cohen & Associates LLC's holdings, making the stock its 4th biggest position. Arthur M. Cohen & Associates LLC's holdings in Apple were worth $39,097,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AAPL. Drystone LLC purchased a new stake in Apple during the fourth quarter valued at approximately $25,000. Conquis Financial LLC purchased a new position in shares of Apple during the 4th quarter worth $63,000. LSV Asset Management bought a new stake in shares of Apple during the 4th quarter valued at $65,000. Pillar Financial Advisors LLC bought a new stake in shares of Apple during the 4th quarter valued at $82,000. Finally, Compass Planning Associates Inc purchased a new stake in shares of Apple in the 4th quarter worth $96,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Trading Up 2.2%

Shares of AAPL stock opened at $212.44 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $3.17 trillion, a price-to-earnings ratio of 33.09, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The stock's 50-day moving average price is $203.16 and its 200-day moving average price is $219.40.

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

Apple announced that its Board of Directors has authorized a stock buyback program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Apple Increases Dividend

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

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 4,486 shares of the 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 completion of the transaction, the insider owned 15,533 shares in the company, valued at $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the transaction, the chief financial officer directly owned 4,569 shares of the company's stock, valued at $941,214. The trade was a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Wedbush reiterated an "outperform" rating and set a $270.00 target price on shares of Apple in a research report on Tuesday, June 10th. Tigress Financial upped their price target on Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a research report on Thursday, April 3rd. DA Davidson lifted their price objective on Apple from $230.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Loop Capital cut their price objective on Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Finally, Monness Crespi & Hardt increased their target price on shares of Apple to $245.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $234.95.

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.

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