Apple Inc. (NASDAQ:AAPL) Shares Sold by Castle Rock Wealth Management LLC

Castle Rock Wealth Management LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 14.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,276 shares of the iPhone maker's stock after selling 8,827 shares during the period. Apple makes up approximately 3.3% of Castle Rock Wealth Management LLC's investment portfolio, making the stock its 3rd biggest position. Castle Rock Wealth Management LLC's holdings in Apple were worth $12,068,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AAPL. Rhumbline Advisers grew its position in Apple by 0.7% in the first quarter. Rhumbline Advisers now owns 28,573,295 shares of the iPhone maker's stock worth $6,346,986,000 after acquiring an additional 196,132 shares in the last quarter. Aletheian Wealth Advisors LLC grew its position in Apple by 20.8% in the first quarter. Aletheian Wealth Advisors LLC now owns 18,856 shares of the iPhone maker's stock worth $4,188,000 after acquiring an additional 3,248 shares in the last quarter. Bowman & Co S.C. grew its position in Apple by 3.0% in the first quarter. Bowman & Co S.C. now owns 29,689 shares of the iPhone maker's stock worth $6,595,000 after acquiring an additional 852 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its position in Apple by 10.5% in the first quarter. Fifth Third Wealth Advisors LLC now owns 321,725 shares of the iPhone maker's stock worth $71,465,000 after acquiring an additional 30,475 shares in the last quarter. Finally, Peoples Bank KS grew its position in Apple by 2.2% in the first quarter. Peoples Bank KS now owns 20,662 shares of the iPhone maker's stock worth $4,590,000 after acquiring an additional 445 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider now directly owns 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the transaction, 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 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 Stock Up 0.0%

Apple stock traded up $0.08 during mid-day trading on Friday, reaching $201.08. 73,093,456 shares of the company were exchanged, compared to its average volume of 53,360,608. The business has a fifty day moving average of $202.61 and a 200 day moving average of $220.03. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The firm has a market cap of $3.00 trillion, a P/E ratio of 31.32, a PEG ratio of 2.25 and a beta of 1.22. Apple Inc. has a 12-month low of $169.21 and a 12-month 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, topping analysts' consensus estimates of $1.62 by $0.03. The company had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. Apple's revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.53 earnings per share. Research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

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

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is currently 16.20%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Morgan Stanley reiterated an "overweight" rating on shares of Apple in a research report on Friday, June 13th. Loop Capital dropped their price target on Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. KeyCorp upgraded Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Barclays set a $173.00 target price on Apple and gave the company an "underweight" rating in a research report on Tuesday, June 24th. Finally, UBS Group restated a "buy" rating on shares of Apple in a research report on Sunday, June 1st. Three 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 company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $234.39.

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.