Caldwell Sutter Capital Inc. Has $10.72 Million Stake in Apple Inc. (NASDAQ:AAPL)

Caldwell Sutter Capital Inc. cut its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,279 shares of the iPhone maker's stock after selling 1,899 shares during the period. Apple accounts for 5.1% of Caldwell Sutter Capital Inc.'s holdings, making the stock its largest position. Caldwell Sutter Capital Inc.'s holdings in Apple were worth $10,724,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Tallon Kerry Patrick bought a new position in Apple in the fourth quarter valued at approximately $1,877,000. First National Bank of Hutchinson grew its stake in shares of Apple by 24.6% during the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock worth $8,845,000 after buying an additional 6,982 shares during the last quarter. Capital & Planning LLC grew 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 worth $6,836,000 after buying an additional 2,647 shares during the last quarter. Eagle Capital Management LLC grew its stake in shares of Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after purchasing an additional 272 shares during the last quarter. Finally, Brighton Jones LLC grew its stake in shares of Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after purchasing an additional 69,207 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the stock in a transaction that occurred on 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 directly owned 15,533 shares of the company's stock, valued at $3,233,815.27. The trade was 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 insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AAPL. Morgan Stanley reissued an "overweight" rating on shares of Apple in a research note on Friday, June 13th. Jefferies Financial Group upgraded shares of Apple from an "underperform" rating to a "hold" rating and boosted their target price for the company from $170.62 to $188.32 in a report on Tuesday, July 1st. Wedbush restated an "outperform" rating and issued a $270.00 target price on shares of Apple in a report on Wednesday, July 9th. China Renaissance assumed coverage on shares of Apple in a report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price objective on the stock. Finally, UBS Group set a $210.00 price objective on shares of Apple and gave the company a "neutral" rating in a report on Thursday, July 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $235.11.

Apple Stock Performance

Shares of Apple stock opened at $210.02 on Friday. The firm has a market capitalization of $3.14 trillion, a P/E ratio of 32.71, a PEG ratio of 2.35 and a beta of 1.20. 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 company has a 50 day moving average price of $204.32 and a 200 day moving average price of $216.12. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results 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 during the quarter, compared to analyst estimates of $94.04 billion. During the same period in the previous year, the firm earned $1.53 EPS. The business's quarterly revenue was up 5.1% on a year-over-year basis. Sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its board has approved a share repurchase plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Apple Increases Dividend

The business also recently disclosed 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. This represents a $1.04 annualized dividend and a yield of 0.50%. The ex-dividend date was Monday, May 12th. Apple's payout ratio is 16.20%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.