Crown Oak Advisors LLC Sells 2,333 Shares of Apple Inc. (NASDAQ:AAPL)

Crown Oak Advisors LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 54.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,980 shares of the iPhone maker's stock after selling 2,333 shares during the period. Apple makes up about 0.2% of Crown Oak Advisors LLC's holdings, making the stock its 21st largest position. Crown Oak Advisors LLC's holdings in Apple were worth $440,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Life Planning Partners Inc acquired a new stake in Apple during the 4th quarter worth approximately $47,000. Conquis Financial LLC acquired a new stake in Apple during the 4th quarter worth approximately $63,000. LSV Asset Management acquired a new stake in Apple during the 4th quarter worth approximately $65,000. Pillar Financial Advisors LLC acquired a new stake in Apple during the 4th quarter worth approximately $82,000. Finally, Compass Planning Associates Inc acquired a new stake in Apple during the 4th quarter worth approximately $96,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the sale, the insider directly owned 15,533 shares of the company's stock, valued at $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

AAPL has been the subject of several recent research reports. Scotiabank downgraded shares of Apple to a "market perform" rating in a research report on Friday, May 2nd. TD Cowen reduced their price objective on Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Raymond James Financial cut 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. DA Davidson raised their target price on Apple from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, Morgan Stanley restated an "overweight" rating on shares of Apple in a research note on Friday, June 13th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and an average target price of $234.94.

Apple Price Performance

Shares of AAPL stock traded up $0.17 on Monday, reaching $214.05. The company's stock had a trading volume of 37,786,671 shares, compared to its average volume of 47,818,408. 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 12-month low of $169.21 and a 12-month high of $260.10. The company has a market capitalization of $3.20 trillion, a P/E ratio of 33.34, a PEG ratio of 2.39 and a beta of 1.20. The stock's 50 day simple moving average is $204.87 and its 200-day simple moving average is $214.22.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same quarter last year, the business posted $1.53 earnings per share. The company's revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities 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 authorized a share repurchase program on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Apple Increases Dividend

The firm 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 boost 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 dividend payout ratio (DPR) is presently 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.