CGN Advisors LLC Has $10.68 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

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

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Drystone LLC bought a new stake in Apple in the fourth quarter valued at $25,000. Conquis Financial LLC acquired a new stake in Apple during the 4th quarter worth $63,000. LSV Asset Management bought a new position in shares of Apple during the 4th quarter valued at about $65,000. Pillar Financial Advisors LLC acquired a new stake in shares of Apple during the fourth quarter worth $82,000. Finally, Compass Planning Associates Inc acquired a new position in shares of Apple during the fourth quarter worth about $96,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

Shares of Apple stock traded up $4.62 on Wednesday, reaching $212.44. 67,874,321 shares of the stock were exchanged, compared to its average volume of 53,627,933. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The firm has a market cap of $3.17 trillion, a PE ratio of 33.09, a P/E/G ratio of 2.32 and a beta of 1.20. 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's 50 day moving average is $203.01 and its 200-day moving average is $219.45.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The company had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same quarter last year, the company posted $1.53 EPS. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its Board of Directors has approved a share buyback 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 buy up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given 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 0.49%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is currently 16.20%.

Insider Transactions at Apple

In other news, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction that occurred 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 sale, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. This 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 owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AAPL shares. Citigroup reissued a "buy" rating on shares of Apple in a research report on Tuesday, June 10th. Rosenblatt Securities cut Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target for the company. in a research report on Friday, May 2nd. UBS Group restated a "buy" rating on shares of Apple in a research note on Sunday, June 1st. DA Davidson upped their price objective on Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Finally, Evercore ISI raised their target price on shares of Apple to $250.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $234.95.

About Apple

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.