Apple Inc. (NASDAQ:AAPL) Position Decreased by Baker Chad R

Baker Chad R reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 7.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 195,384 shares of the iPhone maker's stock after selling 15,090 shares during the period. Apple comprises 8.8% of Baker Chad R's portfolio, making the stock its largest holding. Baker Chad R's holdings in Apple were worth $43,401,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AAPL. Drystone LLC purchased a new position in Apple during the fourth quarter valued at $25,000. Life Planning Partners Inc purchased a new position in Apple during the fourth quarter valued at $47,000. Conquis Financial LLC purchased a new position in Apple during the fourth quarter valued at $63,000. LSV Asset Management purchased a new position in Apple during the fourth quarter valued at $65,000. Finally, Pillar Financial Advisors LLC purchased a new position in Apple during the fourth quarter valued at $82,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider owned 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Kevan Parekh sold 4,570 shares of the company'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 sale, the chief financial officer directly owned 4,569 shares of the company's stock, valued at $941,214. This represents a 50.01% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.06% of the company's stock.

Apple Stock Up 0.6%

NASDAQ AAPL traded up $1.28 during trading on Thursday, reaching $211.44. 25,032,498 shares of the company's stock traded hands, compared to its average volume of 53,131,376. The company's 50 day simple moving average is $204.07 and its two-hundred day simple moving average is $216.41. 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 12-month low of $169.21 and a 12-month high of $260.10. The firm has a market cap of $3.16 trillion, a price-to-earnings ratio of 32.92, a price-to-earnings-growth ratio of 2.34 and a beta of 1.20.

Apple (NASDAQ:AAPL - Get Free Report) last issued 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. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same quarter in the previous year, the firm earned $1.53 EPS. The company's quarterly revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple declared that its board has approved a share buyback plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to reacquire 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 disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.49%. This is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple's payout ratio is presently 16.20%.

Analysts Set New Price Targets

AAPL has been the subject of several research reports. Citigroup reiterated a "buy" rating on shares of Apple in a research report on Tuesday, June 10th. Barclays set a $173.00 price objective on shares of Apple and gave the company an "underweight" rating in a research report on Tuesday, June 24th. China Renaissance initiated coverage on shares of Apple in a research report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price objective for the company. Raymond James Financial lowered their price objective on shares of Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Finally, UBS Group set a $210.00 price objective on shares of Apple and gave the company a "neutral" rating in a research report on Thursday, July 3rd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $235.27.

Apple Company 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.