Family Firm Inc. reduced its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 6.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,947 shares of the iPhone maker's stock after selling 2,313 shares during the quarter. Apple accounts for about 1.6% of Family Firm Inc.'s investment portfolio, making the stock its 16th largest position. Family Firm Inc.'s holdings in Apple were worth $9,002,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. O Connor Financial Group LLC increased its position in Apple by 1.2% during the 4th quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker's stock valued at $896,000 after buying an additional 41 shares in the last quarter. Menard Financial Group LLC increased its position in Apple by 0.4% during the 3rd quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker's stock valued at $2,848,000 after buying an additional 48 shares in the last quarter. Hanseatic Management Services Inc. increased its position in Apple by 1.3% during the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock valued at $945,000 after buying an additional 48 shares in the last quarter. Family Capital Management Inc. increased its position 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 in the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in shares of Apple by 0.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock worth $4,178,000 after purchasing an additional 48 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.
Insider Activity
In other news, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the sale, the chief executive officer now directly owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. The trade was a 3.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of Apple stock in a transaction dated 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 directly owns 390,059 shares in the company, valued at $87,377,116.59. This trade represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,507 shares of company stock worth $42,694,080 over the last ninety days. Corporate insiders own 0.06% of the company's stock.
Apple Price Performance
Shares of Apple stock opened at $195.27 on Friday. The stock's 50-day simple moving average is $205.04 and its 200-day simple moving average is $225.95. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a market capitalization of $2.92 trillion, a price-to-earnings ratio of 31.00, a PEG ratio of 2.44 and a beta of 1.27. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.
Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 160.83% 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 period in the previous year, the business earned $1.53 earnings per share. The business's revenue was up 5.1% on a year-over-year basis. As a group, analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple announced that its Board of Directors has initiated a stock buyback program on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is 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 $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.53%. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple's payout ratio is presently 16.20%.
Wall Street Analyst Weigh In
A number of research firms have commented on AAPL. Tigress Financial lifted their target price on Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a report on Thursday, April 3rd. Scotiabank lowered Apple to a "market perform" rating in a report on Friday, May 2nd. The Goldman Sachs Group reissued a "buy" rating on shares of Apple in a report on Wednesday. Rosenblatt Securities lowered Apple from a "buy" rating to a "neutral" rating and set a $217.00 target price for the company. in a report on Friday, May 2nd. Finally, DA Davidson lifted their target price on Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and a consensus target price of $235.80.
Check Out Our Latest Analysis on AAPL
Apple Company Profile
(
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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