Hemenway Trust Co LLC Has $66.92 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Hemenway Trust Co LLC decreased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 267,235 shares of the iPhone maker's stock after selling 2,429 shares during the quarter. Apple makes up 5.4% of Hemenway Trust Co LLC's investment portfolio, making the stock its largest position. Hemenway Trust Co LLC's holdings in Apple were worth $66,921,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Drystone LLC bought a new stake in shares of Apple during the 4th quarter valued at about $25,000. Conquis Financial LLC bought a new stake in shares of Apple during the 4th quarter valued at about $63,000. SPX Gestao de Recursos Ltda bought a new stake in Apple during the third quarter worth about $71,000. Pillar Financial Advisors LLC bought a new stake in Apple during the fourth quarter worth about $82,000. Finally, Compass Planning Associates Inc bought a new stake in Apple during the fourth quarter worth about $96,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Activity at Apple

In other news, CEO Timothy D. Cook sold 108,136 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the sale, the chief executive officer now owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This trade represents a 3.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 35,493 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the sale, the chief operating officer now owns 390,059 shares of the company's stock, valued at $87,377,116.59. This trade represents a 8.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,507 shares of company stock valued at $42,694,080. Corporate insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Bank of America reissued a "buy" rating and set a $235.00 price objective on shares of Apple in a research note on Tuesday. JPMorgan Chase & Co. dropped their price objective on shares of Apple from $270.00 to $245.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Maxim Group boosted their price objective on shares of Apple to $215.00 and gave the stock a "hold" rating in a research note on Friday, February 21st. Barclays dropped their price objective on shares of Apple from $197.00 to $173.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 30th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $234.86.

Apple Price Performance

Shares of AAPL stock traded down $2.75 on Friday, hitting $196.45. 51,345,532 shares of the stock traded hands, compared to its average volume of 54,742,937. The firm has a market cap of $2.93 trillion, a price-to-earnings ratio of 31.18, a PEG ratio of 2.44 and a beta of 1.22. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The firm has a 50 day simple moving average of $201.76 and a two-hundred day simple moving average of $223.02. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.

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. 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 160.83%. The company's revenue was up 5.1% on a year-over-year basis. During the same period last year, the firm earned $1.53 EPS. As a group, equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple announced that its board has initiated a stock buyback program on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

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 paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.53%. This is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio (DPR) is presently 16.20%.

About Apple

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.