Bokf Na Sells 10,212 Shares of Apple Inc. (NASDAQ:AAPL)

BOKF NA lowered its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 907,577 shares of the iPhone maker's stock after selling 10,212 shares during the quarter. Apple comprises 3.6% of BOKF NA's portfolio, making the stock its 3rd largest holding. BOKF NA's holdings in Apple were worth $214,960,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in AAPL. Drystone LLC acquired a new position in shares of Apple in the fourth quarter valued at $25,000. Life Planning Partners Inc bought a new stake in Apple in the fourth quarter valued at $47,000. Conquis Financial LLC bought a new stake in Apple in the fourth quarter valued at $63,000. LSV Asset Management bought a new stake in Apple in the fourth quarter valued at $65,000. Finally, Pillar Financial Advisors LLC bought a new stake in Apple in the fourth quarter valued at $82,000. Institutional investors own 67.73% of the company's stock.

Apple Stock Down 1.4%

Shares of AAPL traded down $2.78 during mid-day trading on Tuesday, reaching $195.64. The company had a trading volume of 38,432,354 shares, compared to its average volume of 54,632,706. The company has a market capitalization of $2.92 trillion, a price-to-earnings ratio of 31.05, a price-to-earnings-growth ratio of 2.44 and a beta of 1.22. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. 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 firm has a 50-day moving average price of $202.28 and a 200 day moving average price of $222.66.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. Apple's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.53 EPS. On average, sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a $0.26 dividend. This is a positive change from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.53%. Apple's payout ratio is presently 16.20%.

Apple announced that its board has initiated 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 buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

AAPL has been the topic of several recent research reports. Loop Capital decreased their price target on Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Wedbush reaffirmed an "outperform" rating and issued a $270.00 price objective on shares of Apple in a report on Tuesday, June 10th. The Goldman Sachs Group reissued a "buy" rating on shares of Apple in a report on Wednesday, May 21st. TD Cowen reduced their price target on Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Finally, Evercore ISI upped their target price on Apple to $250.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $234.86.

Insiders Place Their Bets

In related news, SVP Katherine L. Adams sold 38,822 shares of the business's 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 sale, the senior vice president now directly owns 179,158 shares in the company, valued at approximately $40,072,269.86. The trade was a 17.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the transaction, the insider now owns 15,533 shares in the company, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,507 shares of company stock worth $42,694,080 over the last 90 days. Company insiders own 0.06% of the company's stock.

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.