Bridge Creek Capital Management LLC Sells 1,379 Shares of Apple Inc. (NASDAQ:AAPL)

Bridge Creek Capital Management LLC lessened its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,158 shares of the iPhone maker's stock after selling 1,379 shares during the period. Apple makes up 4.1% of Bridge Creek Capital Management LLC's portfolio, making the stock its biggest position. Bridge Creek Capital Management LLC's holdings in Apple were worth $12,919,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Regent Peak Wealth Advisors LLC increased its stake in Apple by 0.9% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 111,858 shares of the iPhone maker's stock valued at $28,012,000 after buying an additional 1,050 shares during the period. Tallon Kerry Patrick acquired a new stake in shares of Apple in the 4th quarter worth approximately $1,877,000. First National Bank of Hutchinson boosted its holdings in shares of Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after acquiring an additional 6,982 shares in the last quarter. Capital & Planning LLC increased its stake in shares of Apple by 10.7% during the fourth quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker's stock valued at $6,836,000 after acquiring an additional 2,647 shares during the period. Finally, Channel Wealth LLC increased its stake in shares of Apple by 0.8% during the fourth quarter. Channel Wealth LLC now owns 58,816 shares of the iPhone maker's stock valued at $14,729,000 after acquiring an additional 493 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Stock Up 2.1%

Shares of AAPL traded up $4.47 during trading hours on Wednesday, reaching $212.29. The company's stock had a trading volume of 20,378,505 shares, compared to its average volume of 53,474,193. The company has a 50 day moving average of $203.01 and a two-hundred day moving average of $219.45. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. The firm has a market cap of $3.17 trillion, a price-to-earnings ratio of 32.98, a P/E/G ratio of 2.29 and a beta of 1.20. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $94.04 billion. During the same quarter in the prior year, the business earned $1.53 EPS. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple declared that its board has authorized a share repurchase plan on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a $0.26 dividend. The ex-dividend date was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. Apple's dividend payout ratio is 16.20%.

Insider Buying and Selling at Apple

In related news, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction on Wednesday, April 23rd. The stock was 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 owned 4,569 shares of the company's stock, valued at approximately $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the sale, the insider directly owned 15,533 shares of the company's stock, valued at $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research analyst reports. Bank of America restated a "buy" rating and issued a $235.00 target price on shares of Apple in a research report on Tuesday, June 10th. Barclays set a $173.00 price objective on Apple and gave the company an "underweight" rating in a report on Tuesday, June 24th. DA Davidson raised their target price on Apple from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. UBS Group reiterated a "buy" rating on shares of Apple in a research report on Sunday, June 1st. Finally, Loop Capital cut their price target on shares of Apple from $230.00 to $215.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $234.95.

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.