Green Alpha Advisors LLC Sells 2,505 Shares of Apple Inc. (NASDAQ:AAPL)

Green Alpha Advisors LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 52.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,310 shares of the iPhone maker's stock after selling 2,505 shares during the quarter. Green Alpha Advisors LLC's holdings in Apple were worth $513,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Advance Capital Management Inc. lifted its holdings in shares of Apple by 1.2% in the 1st quarter. Advance Capital Management Inc. now owns 34,297 shares of the iPhone maker's stock worth $7,618,000 after acquiring an additional 415 shares during the last quarter. Czech National Bank lifted its holdings in shares of Apple by 5.3% in the 1st quarter. Czech National Bank now owns 3,450,234 shares of the iPhone maker's stock worth $766,400,000 after acquiring an additional 172,698 shares during the last quarter. Hardin Capital Partners LLC lifted its holdings in shares of Apple by 2.1% in the 1st quarter. Hardin Capital Partners LLC now owns 5,330 shares of the iPhone maker's stock worth $1,184,000 after acquiring an additional 112 shares during the last quarter. Quantum Financial Advisors LLC lifted its holdings in shares of Apple by 0.7% in the 1st quarter. Quantum Financial Advisors LLC now owns 69,423 shares of the iPhone maker's stock worth $15,421,000 after acquiring an additional 510 shares during the last quarter. Finally, Mirador Capital Partners LP raised its holdings in Apple by 7.5% during the 1st quarter. Mirador Capital Partners LP now owns 110,043 shares of the iPhone maker's stock valued at $24,444,000 after buying an additional 7,639 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Chris Kondo sold 4,486 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the transaction, the insider now owns 15,533 shares in the company, valued at $3,233,815.27. This represents a 22.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was 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 owns 3,280,295 shares in the company, valued at $733,637,976.75. This trade represents a 3.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,507 shares of company stock valued at $42,694,080 in the last 90 days. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

Shares of NASDAQ AAPL traded up $0.08 during trading on Friday, reaching $201.08. 73,093,456 shares of the company traded hands, compared to its average volume of 53,360,608. The firm has a 50 day simple moving average of $202.61 and a 200-day simple moving average of $220.03. 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 market capitalization of $3.00 trillion, a PE ratio of 31.32, a P/E/G ratio of 2.25 and a beta of 1.22. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business's quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.53 EPS. Equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple declared that its Board of Directors has authorized a stock buyback program on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its shares are undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is presently 16.20%.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of recent analyst reports. Morgan Stanley reiterated an "overweight" rating on shares of Apple in a report on Friday, June 13th. Rosenblatt Securities lowered shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target for the company. in a report on Friday, May 2nd. Bank of America reiterated a "buy" rating and set a $235.00 price target on shares of Apple in a report on Tuesday, June 10th. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a report on Tuesday, June 10th. 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 target for the company. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $234.39.

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.