Apple Inc. (NASDAQ:AAPL) Stock Position Lessened by Fulcrum Capital LLC

Fulcrum Capital LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 6.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 149,509 shares of the iPhone maker's stock after selling 10,523 shares during the period. Apple accounts for about 7.4% of Fulcrum Capital LLC's portfolio, making the stock its 2nd largest position. Fulcrum Capital LLC's holdings in Apple were worth $33,210,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Advanced Portfolio Management LLC boosted its position 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 purchasing an additional 47 shares during the period. Hanseatic Management Services Inc. grew its stake in Apple by 1.3% in the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock valued at $945,000 after buying an additional 48 shares during the last quarter. Family Capital Management Inc. raised its holdings in Apple by 0.3% in the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock valued at $4,235,000 after acquiring an additional 48 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in Apple by 0.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock worth $4,178,000 after acquiring an additional 48 shares during the last quarter. Finally, Scarborough Advisors LLC lifted its position in Apple by 0.3% during the fourth quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock worth $3,992,000 after acquiring an additional 51 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

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 transaction of $24,184,616.40. Following the completion of the sale, the chief executive officer now owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This trade represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Jeffrey E. Williams sold 35,493 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the sale, the chief operating officer now owns 390,059 shares in the company, valued at approximately $87,377,116.59. The trade was a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,507 shares of company stock worth $42,694,080 in the last quarter. Company insiders own 0.06% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. KeyCorp upgraded Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Morgan Stanley reiterated an "overweight" rating on shares of Apple in a research report on Friday, June 13th. Citigroup reissued a "buy" rating on shares of Apple in a research report on Tuesday, June 10th. Monness Crespi & Hardt raised their price target on shares of Apple to $245.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Finally, Raymond James Financial dropped their price objective on shares of Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Three equities 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and a consensus target price of $234.39.

Apple Trading Up 0.0%

AAPL stock traded up $0.08 during midday trading on Friday, hitting $201.08. The stock had a trading volume of 73,093,456 shares, compared to its average volume of 53,477,308. The business has a fifty day moving average price of $202.52 and a two-hundred day moving average price of $220.53. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. 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 firm has a market cap of $3.00 trillion, a P/E ratio of 31.32, a price-to-earnings-growth ratio of 2.24 and a beta of 1.22.

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

Apple announced that its Board of Directors has authorized a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its stock is undervalued.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is presently 16.20%.

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.