CGN Advisors LLC Sells 15,941 Shares of Apple Inc. (NASDAQ:AAPL)

CGN Advisors LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 24.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,080 shares of the iPhone maker's stock after selling 15,941 shares during the quarter. Apple comprises 1.0% of CGN Advisors LLC's holdings, making the stock its 20th biggest position. CGN Advisors LLC's holdings in Apple were worth $10,680,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider owned 15,533 shares of the company's stock, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the transaction, the chief financial officer owned 4,569 shares of the company's stock, valued at approximately $941,214. The trade was a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company's stock.

Apple Stock Up 0.4%

Shares of AAPL traded up $0.92 during mid-day trading on Friday, hitting $213.36. 34,955,836 shares of the company's stock were exchanged, compared to its average volume of 53,618,682. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The firm has a fifty day moving average of $203.26 and a two-hundred day moving average of $219.14. The stock has a market cap of $3.19 trillion, a price-to-earnings ratio of 33.23, a P/E/G ratio of 2.38 and a beta of 1.20.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping 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 the consensus estimate of $94.04 billion. During the same period in the prior year, the business posted $1.53 earnings per share. The business's quarterly revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

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

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. Apple's dividend payout ratio (DPR) is presently 16.20%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AAPL shares. TD Cowen decreased 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. DA Davidson upped their price objective on shares of Apple from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Evercore ISI lifted their target price on shares of Apple to $250.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Raymond James Financial cut their price target on shares of Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Finally, China Renaissance assumed coverage on shares of Apple in a research report on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 price target for the company. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and a consensus price target of $234.95.

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.