Collective Family Office LLC Sells 1,689 Shares of Apple Inc. (NASDAQ:AAPL)

Collective Family Office LLC lowered its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 11.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,616 shares of the iPhone maker's stock after selling 1,689 shares during the quarter. Collective Family Office LLC's holdings in Apple were worth $3,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of AAPL. Vanguard Group Inc. grew its position in Apple by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock worth $349,532,608,000 after acquiring an additional 49,168,843 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Apple by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock worth $84,999,145,000 after buying an additional 6,307,413 shares during the period. Norges Bank bought a new stake in Apple during the 4th quarter valued at $46,868,648,000. Northern Trust Corp boosted its position in Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after buying an additional 20,079,472 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Apple by 14.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock worth $26,220,566,000 after acquiring an additional 13,137,968 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of analyst reports. Citigroup reiterated a "buy" rating on shares of Apple in a report on Tuesday, June 10th. Raymond James Financial reduced their target price on Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Evercore ISI upped their target price on Apple to $250.00 and gave the company a "buy" rating in a report on Friday, June 6th. Rosenblatt Securities cut shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target on the stock. in a report on Friday, May 2nd. Finally, Jefferies Financial Group reissued an "underperform" rating and set a $170.62 price objective (up from $167.88) on shares of Apple in a research report on Friday, May 2nd. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $234.39.

Apple Stock Performance

Shares of Apple stock traded down $0.56 during trading on Thursday, hitting $201.00. 50,464,069 shares of the company's stock traded hands, compared to its average volume of 53,433,483. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The business has a 50-day simple moving average of $202.44 and a 200-day simple moving average of $220.85. The stock has a market capitalization of $3.00 trillion, a P/E ratio of 31.31, a PEG ratio of 2.24 and a beta of 1.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78.

Apple (NASDAQ:AAPL - Get Free Report) last posted its 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 net margin of 24.30% and a return on equity of 167.24%. The business had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. During the same quarter in the prior year, the business earned $1.53 EPS. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Increases Dividend

The business 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. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. Apple's dividend payout ratio is 16.20%.

Apple declared that its Board of Directors has approved a share buyback program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 35,493 shares of Apple stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the sale, the chief operating officer now owns 390,059 shares of the company's stock, valued at $87,377,116.59. The trade was a 8.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Katherine L. Adams sold 38,822 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the sale, the senior vice president now owns 179,158 shares of the company's stock, valued at $40,072,269.86. This trade represents a 17.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is owned by insiders.

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.