Bond & Devick Financial Network Inc. Decreases Stake in Apple Inc. (NASDAQ:AAPL)

Bond & Devick Financial Network Inc. cut its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 10.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,530 shares of the iPhone maker's stock after selling 1,550 shares during the period. Apple comprises approximately 1.1% of Bond & Devick Financial Network Inc.'s investment portfolio, making the stock its 21st biggest position. Bond & Devick Financial Network Inc.'s holdings in Apple were worth $3,005,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Drystone LLC acquired a new position in shares of Apple during the fourth quarter worth $25,000. Life Planning Partners Inc acquired a new position in shares of Apple during the fourth quarter worth $47,000. Conquis Financial LLC acquired a new stake in Apple in the fourth quarter valued at $63,000. LSV Asset Management acquired a new stake in Apple in the fourth quarter valued at $65,000. Finally, Pillar Financial Advisors LLC acquired a new stake in Apple in the fourth quarter valued at $82,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Up 0.0%

Shares of AAPL stock traded up $0.08 on Friday, reaching $201.08. 73,093,456 shares of the company were exchanged, compared to its average volume of 53,360,608. The company has a market cap of $3.00 trillion, a price-to-earnings ratio of 31.32, a PEG ratio of 2.25 and a beta of 1.22. The company has a 50-day moving average of $202.61 and a 200-day moving average of $220.03. 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 Inc. has a one year low of $169.21 and a one year high of $260.10.

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 company had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business's revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.53 EPS. Analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

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 is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.52%. Apple's dividend payout ratio (DPR) is presently 16.20%.

Apple announced that its board has approved a stock buyback plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts recently weighed in on AAPL shares. Jefferies Financial Group restated an "underperform" rating and issued a $170.62 price objective (up from $167.88) on shares of Apple in a report on Friday, May 2nd. Barclays set a $173.00 price objective on Apple and gave the company an "underweight" rating in a report on Tuesday, June 24th. Monness Crespi & Hardt increased their price objective on Apple to $245.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Loop Capital decreased their price objective on Apple from $230.00 to $215.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Finally, China Renaissance started coverage on Apple in a report on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $234.39.

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 108,136 shares of the firm'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 transaction, the chief executive officer now owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. This trade represents a 3.19% decrease in their position. The sale 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 the firm's stock in a transaction dated Wednesday, April 23rd. The shares were 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 now directly owns 4,569 shares in the company, valued at approximately $941,214. The trade was a 50.01% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 191,507 shares of company stock valued at $42,694,080. 0.06% of the stock is owned by corporate 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.