FCA Corp TX Lowers Position in Apple Inc. (NASDAQ:AAPL)

FCA Corp TX lowered its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 7.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,694 shares of the iPhone maker's stock after selling 1,400 shares during the quarter. Apple comprises approximately 1.3% of FCA Corp TX's investment portfolio, making the stock its 23rd biggest position. FCA Corp TX's holdings in Apple were worth $4,252,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in AAPL. O Connor Financial Group LLC grew its stake in shares of Apple by 1.2% in 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 during the period. Menard Financial Group LLC grew its stake in shares of Apple by 0.4% in 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 during the period. Hanseatic Management Services Inc. grew its stake in shares of Apple by 1.3% in 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 during the period. Family Capital Management Inc. grew its stake in shares of Apple by 0.3% in 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 period. Finally, Farmers & Merchants Trust Co of Chambersburg PA grew its stake 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 valued at $4,178,000 after buying an additional 48 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

Analyst Ratings Changes

AAPL has been the subject of a number of analyst reports. Raymond James cut their price target on Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Evercore ISI lifted their price target on Apple from $260.00 to $275.00 and gave the company an "outperform" rating in a research note on Tuesday, March 18th. KeyCorp upgraded Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Morgan Stanley reiterated an "overweight" rating and set a $235.00 price target on shares of Apple in a research note on Thursday. Finally, Barclays cut their price target on Apple from $197.00 to $173.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $235.80.

Apple Price Performance

Shares of AAPL traded down $2.19 during mid-day trading on Thursday, reaching $200.63. 55,023,682 shares of the stock traded hands, compared to its average volume of 56,120,355. The firm has a fifty day moving average price of $201.99 and a 200 day moving average price of $224.54. The company has a market cap of $3.00 trillion, a price-to-earnings ratio of 31.85, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The business's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.53 EPS. As a group, equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a $0.26 dividend. The ex-dividend date was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.52%. Apple's payout ratio is 16.20%.

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

Insider Buying and Selling

In other news, CEO Timothy D. Cook sold 108,136 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the transaction, the chief executive officer now directly owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. This represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the transaction, the chief financial officer now directly owns 4,569 shares of the company's stock, valued at approximately $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,507 shares of company stock worth $42,694,080. Corporate insiders own 0.06% of the company's stock.

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.