Mcdaniel Terry & Co. Sells 1,701 Shares of Apple Inc. (NASDAQ:AAPL)

Mcdaniel Terry & Co. trimmed its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 359,631 shares of the iPhone maker's stock after selling 1,701 shares during the period. Apple makes up approximately 7.0% of Mcdaniel Terry & Co.'s holdings, making the stock its 2nd biggest holding. Mcdaniel Terry & Co.'s holdings in Apple were worth $79,885,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Advanced Portfolio Management LLC grew its holdings in Apple by 0.3% during the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock worth $3,260,000 after acquiring an additional 47 shares during the period. Family Capital Management Inc. grew its holdings in Apple by 0.3% in the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock valued at $4,235,000 after purchasing an additional 48 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in Apple by 0.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock valued at $4,178,000 after purchasing an additional 48 shares during the period. Scarborough Advisors LLC grew its holdings in 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 purchasing an additional 51 shares during the period. Finally, Disciplined Investments LLC grew its holdings in Apple by 0.7% in the fourth quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker's stock valued at $1,794,000 after purchasing an additional 51 shares during the period. Institutional investors own 67.73% of the company's stock.

Apple Stock Performance

AAPL traded down $0.42 on Thursday, hitting $232.91. 37,584,287 shares of the company traded hands, compared to its average volume of 57,933,523. The company has a 50 day moving average of $208.49 and a 200-day moving average of $213.35. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $3.46 trillion, a PE ratio of 35.33, a PEG ratio of 2.40 and a beta of 1.16. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%. The firm's revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.40 EPS. Sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple declared that its board has initiated a stock buyback program on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its stock is undervalued.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Monday, August 11th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple's dividend payout ratio is currently 15.78%.

Insider Buying and Selling

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the sale, the senior vice president directly owned 136,687 shares of the company's stock, valued at $30,508,538.40. This represents a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. BMO Capital Markets reissued a "buy" rating on shares of Apple in a report on Wednesday. Loop Capital dropped their price objective on Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Raymond James Financial reissued an "outperform" rating and issued a $240.00 price objective (up from $230.00) on shares of Apple in a report on Friday, August 1st. DA Davidson reissued a "buy" rating and issued a $250.00 price objective on shares of Apple in a report on Friday, August 1st. Finally, Scotiabank lowered Apple to a "market perform" rating in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $237.60.

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.