Apple Inc. (NASDAQ:AAPL) Shares Sold by BOK Financial Private Wealth Inc.

BOK Financial Private Wealth Inc. lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,920 shares of the iPhone maker's stock after selling 5,219 shares during the period. Apple comprises approximately 1.3% of BOK Financial Private Wealth Inc.'s investment 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.

Other large investors have also recently modified their holdings of the company. Drystone LLC purchased a new stake in shares of Apple in the fourth quarter valued at approximately $25,000. SPX Gestao de Recursos Ltda purchased a new stake in shares of Apple in the third quarter valued at approximately $71,000. Pillar Financial Advisors LLC purchased a new stake in shares of Apple in the fourth quarter valued at approximately $82,000. Teachers Insurance & Annuity Association of America purchased a new stake in Apple during the third quarter worth $77,000. Finally, Compass Planning Associates Inc purchased a new stake in Apple during the fourth quarter worth $96,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Scotiabank lowered Apple to a "market perform" rating in a report on Friday, May 2nd. Monness Crespi & Hardt lowered their target price on Apple from $260.00 to $245.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Barclays lowered their target price on Apple from $197.00 to $173.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. lowered their target price on Apple from $270.00 to $245.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, Needham & Company LLC restated a "buy" rating and set a $225.00 target price on shares of Apple in a report on Friday, May 2nd. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $235.80.

Apple Stock Performance

Shares of NASDAQ AAPL traded down $0.73 during mid-day trading on Thursday, hitting $201.36. The stock had a trading volume of 46,619,795 shares, compared to its average volume of 56,066,227. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The company has a 50 day moving average of $205.39 and a two-hundred day moving average of $226.12. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The firm has a market cap of $3.01 trillion, a PE ratio of 31.96, a PEG ratio of 2.44 and a beta of 1.27.

Apple (NASDAQ:AAPL - Get Free Report) last released its 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. Apple had a return on equity of 160.83% and a net margin of 24.30%. The firm had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same period in the prior year, the firm earned $1.53 EPS. The firm's revenue was up 5.1% on a year-over-year basis. Research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

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

Apple announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,486 shares of the 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 sale, the insider now directly owns 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the sale, the chief operating officer now directly owns 390,059 shares in the company, valued at $87,377,116.59. This represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,507 shares of company stock valued at $42,694,080 in the last ninety days. Company insiders own 0.06% of the company's stock.

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.