Apple Inc. (NASDAQ:AAPL) Shares Sold by Keb Asset Management LLC

Keb Asset Management LLC reduced its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 12.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,807 shares of the iPhone maker's stock after selling 1,927 shares during the period. Apple comprises 1.0% of Keb Asset Management LLC's holdings, making the stock its 16th largest position. Keb Asset Management LLC's holdings in Apple were worth $3,458,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Waverton Investment Management Ltd increased its stake in Apple by 3.8% during the 3rd quarter. Waverton Investment Management Ltd now owns 419,435 shares of the iPhone maker's stock worth $97,726,000 after buying an additional 15,413 shares in the last quarter. WealthPlan Investment Management LLC boosted its stake in shares of Apple by 32.6% in the third quarter. WealthPlan Investment Management LLC now owns 356,886 shares of the iPhone maker's stock worth $83,154,000 after acquiring an additional 87,839 shares during the last quarter. Apollon Financial LLC boosted its stake in shares of Apple by 1.3% in the third quarter. Apollon Financial LLC now owns 62,500 shares of the iPhone maker's stock worth $14,563,000 after acquiring an additional 802 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of Apple by 23.9% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 499,426 shares of the iPhone maker's stock worth $116,265,000 after purchasing an additional 96,362 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in Apple by 1.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 34,486,195 shares of the iPhone maker's stock valued at $8,035,283,000 after purchasing an additional 432,140 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In related news, CEO Timothy D. Cook sold 108,136 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the sale, the chief executive officer now directly owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 38,822 shares of Apple stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the transaction, the senior vice president now owns 179,158 shares of the company's stock, valued at $40,072,269.86. This represents a 17.81% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,507 shares of company stock valued at $42,694,080. 0.06% of the stock is currently owned by company insiders.

Apple Trading Down 2.3%

Apple stock traded down $4.77 during midday trading on Wednesday, reaching $202.09. 59,113,086 shares of the stock traded hands, compared to its average volume of 55,963,045. The firm has a market cap of $3.02 trillion, a PE ratio of 32.08, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a 50-day simple moving average of $205.87 and a two-hundred day simple moving average of $226.43. 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, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.62 by $0.03. The business had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.53 earnings per share. Research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple declared that its board has approved a stock repurchase plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans 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. Shareholders of record on Monday, May 12th were paid a $0.26 dividend. This is an increase 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 dividend yield of 0.51%. Apple's payout ratio is 16.20%.

Analysts Set New Price Targets

AAPL has been the topic of several recent research reports. KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Citigroup restated a "cautious" rating on shares of Apple in a research report on Monday, May 5th. The Goldman Sachs Group cut their price objective on shares of Apple from $259.00 to $256.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Maxim Group boosted their target price on Apple to $215.00 and gave the stock a "hold" rating in a report on Friday, February 21st. Finally, Redburn Partners set a $230.00 price target on Apple in a report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, eleven have assigned 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.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $235.80.

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.