Apple Inc. (NASDAQ:AAPL) Shares Sold by Charter Oak Capital Management LLC

Charter Oak Capital Management LLC lowered its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 76,690 shares of the iPhone maker's stock after selling 2,809 shares during the quarter. Apple makes up approximately 1.6% of Charter Oak Capital Management LLC's investment portfolio, making the stock its 10th largest position. Charter Oak Capital Management LLC's holdings in Apple were worth $17,035,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Whitaker Myers Wealth Managers LTD. increased its position in shares of Apple by 1.8% in the first quarter. Whitaker Myers Wealth Managers LTD. now owns 18,558 shares of the iPhone maker's stock valued at $4,122,000 after acquiring an additional 328 shares during the last quarter. Wedmont Private Capital increased its position in shares of Apple by 4.0% in the first quarter. Wedmont Private Capital now owns 260,718 shares of the iPhone maker's stock valued at $57,913,000 after acquiring an additional 10,062 shares during the last quarter. Sentinel Pension Advisors LLC increased its position in shares of Apple by 0.6% in the first quarter. Sentinel Pension Advisors LLC now owns 27,923 shares of the iPhone maker's stock valued at $6,203,000 after acquiring an additional 156 shares during the last quarter. Clean Yield Group increased its position in shares of Apple by 1.4% in the first quarter. Clean Yield Group now owns 106,545 shares of the iPhone maker's stock valued at $23,667,000 after acquiring an additional 1,421 shares during the last quarter. Finally, ONE Advisory Partners LLC increased its position in shares of Apple by 7.7% in the first quarter. ONE Advisory Partners LLC now owns 1,363 shares of the iPhone maker's stock valued at $303,000 after acquiring an additional 97 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 15,533 shares in the company, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevan Parekh sold 4,570 shares of the business's stock in a transaction that occurred 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. This represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

AAPL has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a report on Tuesday, June 10th. UBS Group set a $210.00 price target on Apple and gave the stock a "neutral" rating in a report on Thursday, July 3rd. DA Davidson lifted their price target on Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Bank of America reiterated a "buy" rating and set a $235.00 price target on shares of Apple in a report on Tuesday, June 10th. Finally, KeyCorp upgraded Apple from an "underweight" rating to a "sector weight" rating in a report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $235.27.

Apple Price Performance

Shares of NASDAQ AAPL traded down $1.25 during mid-day trading on Friday, reaching $211.16. The company had a trading volume of 39,713,698 shares, compared to its average volume of 53,392,190. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The business's 50-day simple moving average is $203.27 and its 200 day simple moving average is $217.73. 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 $3.15 trillion, a price-to-earnings ratio of 32.89, a PEG ratio of 2.36 and a beta of 1.20.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.53 earnings per share. On average, research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 1st that permits the company to buyback $100.00 billion in 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 an indication that the company's board of directors believes its shares are undervalued.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a dividend of $0.26 per share. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. Apple's payout ratio is currently 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.