BOK Financial Private Wealth Inc. Sells 5,219 Shares of Apple Inc. (NASDAQ:AAPL)

BOK Financial Private Wealth Inc. cut its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 6.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,920 shares of the iPhone maker's stock after selling 5,219 shares during the period. Apple makes up approximately 1.3% of BOK Financial Private Wealth Inc.'s portfolio, making the stock its 15th biggest position. BOK Financial Private Wealth Inc.'s holdings in Apple were worth $18,010,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Drystone LLC bought a new stake in Apple in the fourth quarter valued at $25,000. Life Planning Partners Inc acquired a new stake in shares of Apple in the 4th quarter valued at about $47,000. SPX Gestao de Recursos Ltda acquired a new stake in shares of Apple in the 3rd quarter valued at about $71,000. Teachers Insurance & Annuity Association of America bought a new stake in Apple in the 3rd quarter valued at about $77,000. Finally, Pillar Financial Advisors LLC acquired a new position in Apple during the 4th quarter worth approximately $82,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

Apple stock traded down $2.48 during midday trading on Monday, reaching $208.78. The stock had a trading volume of 45,304,005 shares, compared to its average volume of 55,957,683. The firm has a market capitalization of $3.12 trillion, a PE ratio of 33.14, a P/E/G ratio of 2.44 and a beta of 1.27. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The firm's 50-day moving average price is $206.09 and its 200 day moving average price is $226.67.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.03. The company had revenue of $95.36 billion for 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 company's quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.53 earnings per share. As a group, research 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 share repurchase 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 repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were issued a dividend of $0.26 per share. 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 dividend on an annualized basis and a yield of 0.50%. Apple's payout ratio is presently 16.20%.

Insider Activity

In related news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the transaction, the insider now directly owns 15,533 shares in the company, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the transaction, the chief executive officer now owns 3,280,295 shares in the company, valued at $733,637,976.75. This represents a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AAPL shares. China Renaissance began coverage on Apple in a research note on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 price objective for the company. Scotiabank cut Apple to a "market perform" rating in a report on Friday, May 2nd. Needham & Company LLC reissued a "buy" rating and issued a $225.00 price target on shares of Apple in a research report on Friday, May 2nd. Evercore ISI upped their price objective on shares of Apple from $260.00 to $275.00 and gave the stock an "outperform" rating in a report on Tuesday, March 18th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $270.00 price objective on shares of Apple in a research note on Friday. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Apple presently has an average rating of "Moderate Buy" and a consensus price target of $235.80.

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.