Donaldson Capital Management LLC Has $124.89 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Donaldson Capital Management LLC boosted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 562,224 shares of the iPhone maker's stock after purchasing an additional 5,352 shares during the period. Apple comprises about 4.7% of Donaldson Capital Management LLC's holdings, making the stock its largest holding. Donaldson Capital Management LLC's holdings in Apple were worth $124,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of AAPL. Drystone LLC bought a new position in Apple during the fourth quarter worth $25,000. Conquis Financial LLC purchased a new position in Apple during the fourth quarter worth about $63,000. LSV Asset Management purchased a new position in Apple during the fourth quarter worth about $65,000. Pillar Financial Advisors LLC bought a new stake in Apple in the fourth quarter worth about $82,000. Finally, Compass Planning Associates Inc bought a new stake in Apple in the fourth quarter worth about $96,000. Institutional investors own 67.73% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Rosenblatt Securities lowered shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target on the stock. in a research report on Friday, May 2nd. JPMorgan Chase & Co. decreased their target price on shares of Apple from $245.00 to $230.00 and set an "overweight" rating on the stock in a research report on Thursday, June 26th. KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. The Goldman Sachs Group reiterated a "buy" rating on shares of Apple in a research note on Wednesday, May 21st. Finally, China Renaissance initiated coverage on shares of Apple in a report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and an average price target of $235.27.

Apple Trading Down 0.6%

NASDAQ AAPL opened at $211.16 on Friday. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a market capitalization of $3.15 trillion, a price-to-earnings ratio of 32.89, a price-to-earnings-growth ratio of 2.36 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 company's 50-day simple moving average is $203.39 and its two-hundred day simple moving average is $217.12.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results 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. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. During the same quarter last year, the company posted $1.53 earnings per share. The firm's revenue was up 5.1% compared to the same quarter last year. Equities analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

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 issued a $0.26 dividend. This is a boost from Apple's previous quarterly dividend of $0.25. 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%. Apple's payout ratio is presently 16.20%.

Apple declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its stock is undervalued.

Insider Activity

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 shares were sold at an average price of $206.00, for a total value 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. The trade was a 50.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the company'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 transaction of $933,940.34. Following the sale, the insider directly owned 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was 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 company 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.

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