Courier Capital LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 274,341 shares of the iPhone maker's stock after selling 3,544 shares during the quarter. Apple accounts for 4.0% of Courier Capital LLC's holdings, making the stock its 3rd largest holding. Courier Capital LLC's holdings in Apple were worth $60,939,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advanced Portfolio Management LLC grew its holdings in Apple by 0.3% during the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock valued at $3,260,000 after buying an additional 47 shares during the last quarter. Family Capital Management Inc. grew its holdings in Apple by 0.3% during the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock valued at $4,235,000 after buying an additional 48 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in Apple by 0.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock valued at $4,178,000 after buying an additional 48 shares during the last quarter. Scarborough Advisors LLC grew its holdings in Apple by 0.3% during the 4th quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock valued at $3,992,000 after buying an additional 51 shares during the last quarter. Finally, Disciplined Investments LLC grew its holdings in Apple by 0.7% during the 4th quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker's stock valued at $1,794,000 after buying an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.
Insider Activity at Apple
In other news, CFO Kevan Parekh sold 4,570 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the transaction, the chief financial officer directly owned 4,569 shares in the company, valued at approximately $941,214. The trade was a 50.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value 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. This represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the company. Citigroup restated a "buy" rating on shares of Apple in a report on Tuesday, June 10th. China Renaissance started coverage on Apple in a report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price objective on the stock. Morgan Stanley reiterated an "overweight" rating on shares of Apple in a report on Friday, June 13th. Jefferies Financial Group upgraded Apple from an "underperform" rating to a "hold" rating and lifted their target price for the company from $170.62 to $188.32 in a report on Tuesday, July 1st. Finally, Scotiabank lowered Apple to a "market perform" rating in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Apple presently has a consensus rating of "Moderate Buy" and an average target price of $235.27.
Check Out Our Latest Research Report on Apple
Apple Stock Performance
AAPL stock traded down $1.25 during midday trading on Friday, reaching $211.16. The company had a trading volume of 39,713,698 shares, compared to its average volume of 53,349,236. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. The stock has a 50 day moving average price of $203.39 and a 200 day moving average price of $217.12. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The firm has a market capitalization of $3.15 trillion, a PE ratio of 32.89, a P/E/G ratio of 2.36 and a beta of 1.20.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.03. The business had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business's revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.53 earnings per share. Analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.
Apple announced that its Board of Directors has approved a stock buyback program 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 programs are usually an indication that the company's board of directors believes its shares are undervalued.
Apple Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a dividend of $0.26 per share. The ex-dividend date was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. Apple's payout ratio is currently 16.20%.
About Apple
(
Free Report)
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.
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