Hoffman Alan N Investment Management Decreases Stake in Apple Inc. (NASDAQ:AAPL)

Hoffman Alan N Investment Management decreased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 414,094 shares of the iPhone maker's stock after selling 3,605 shares during the period. Apple makes up 47.4% of Hoffman Alan N Investment Management's holdings, making the stock its biggest holding. Hoffman Alan N Investment Management's holdings in Apple were worth $91,983,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Hardin Capital Partners LLC lifted its holdings in Apple by 2.1% in the first quarter. Hardin Capital Partners LLC now owns 5,330 shares of the iPhone maker's stock valued at $1,184,000 after buying an additional 112 shares during the period. Quantum Financial Advisors LLC lifted its holdings in Apple by 0.7% in the first quarter. Quantum Financial Advisors LLC now owns 69,423 shares of the iPhone maker's stock valued at $15,421,000 after buying an additional 510 shares during the period. Mirador Capital Partners LP lifted its holdings in Apple by 7.5% in the first 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 period. Wallace Advisory Group LLC lifted its holdings in Apple by 3.0% in the first quarter. Wallace Advisory Group LLC now owns 18,074 shares of the iPhone maker's stock valued at $4,015,000 after buying an additional 531 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Apple by 0.7% in the first quarter. Rhumbline Advisers now owns 28,573,295 shares of the iPhone maker's stock valued at $6,346,986,000 after buying an additional 196,132 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Stock Performance

Shares of AAPL stock traded up $0.08 during trading on Friday, reaching $201.08. 73,093,456 shares of the company's stock traded hands, compared to its average volume of 53,360,608. The company has a market capitalization of $3.00 trillion, a P/E ratio of 31.32, a PEG ratio of 2.25 and a beta of 1.22. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The firm's 50-day moving average is $202.61 and its 200 day moving average is $220.03. 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 announced 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 company had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. Apple's revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.53 EPS. Equities research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Increases Dividend

The firm also recently declared 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 is a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio is presently 16.20%.

Apple announced that its board has authorized a share buyback program on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Jefferies Financial Group reaffirmed an "underperform" rating and issued a $170.62 price target (up from $167.88) on shares of Apple in a research note 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 for the company in a research report on Thursday. Citigroup reissued a "buy" rating on shares of Apple in a research report on Tuesday, June 10th. Evercore ISI boosted their target price on shares of Apple to $250.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Finally, Scotiabank downgraded shares of Apple to a "market perform" rating in a research report on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Apple has an average rating of "Moderate Buy" and a consensus price target of $234.39.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider now directly owns 15,533 shares in the company, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the company'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 transaction of $941,420.00. Following the sale, the chief financial officer now owns 4,569 shares in the company, valued at $941,214. The trade was a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is owned by corporate insiders.

Apple Company 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.