Apple Inc. $AAPL Shares Sold by Callan Capital LLC

Callan Capital LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 129,174 shares of the iPhone maker's stock after selling 1,373 shares during the quarter. Apple makes up 2.1% of Callan Capital LLC's holdings, making the stock its 11th largest holding. Callan Capital LLC's holdings in Apple were worth $28,693,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AAPL. Norges Bank bought a new position in Apple in the fourth quarter worth approximately $46,868,648,000. GAMMA Investing LLC grew its position in shares of Apple by 25,934.1% during the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker's stock worth $133,425,490,000 after buying an additional 59,835,676 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Apple by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after buying an additional 49,168,843 shares during the period. Proficio Capital Partners LLC raised its holdings in shares of Apple by 23,555.4% in the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock valued at $5,272,653,000 after acquiring an additional 20,966,232 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after acquiring an additional 20,079,472 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AAPL has been the topic of several research reports. Monness Crespi & Hardt lifted their price objective on shares of Apple from $245.00 to $270.00 and gave the company a "buy" rating in a report on Friday, August 1st. BMO Capital Markets reissued a "buy" rating on shares of Apple in a report on Wednesday, August 13th. Bank of America reissued a "buy" rating and set a $250.00 price objective on shares of Apple in a report on Monday. TD Cowen reduced their price target on Apple from $290.00 to $275.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Barclays boosted their price objective on Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and a consensus target price of $237.37.

Apple Stock Up 0.3%

Shares of NASDAQ:AAPL traded up $0.80 during trading on Wednesday, hitting $230.11. 19,336,211 shares of the company were exchanged, compared to its average volume of 56,990,016. The firm's 50 day moving average price is $213.77 and its 200-day moving average price is $212.93. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market capitalization of $3.41 trillion, a P/E ratio of 34.93, a PEG ratio of 2.37 and a beta of 1.16.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple's quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.40 earnings per share. On average, research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Monday, August 11th. Apple's payout ratio is currently 15.78%.

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

Insider Buying and Selling

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.