Infusive Asset Management Inc. Sells 11,268 Shares of Apple Inc. (NASDAQ:AAPL)

Infusive Asset Management Inc. lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 37.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 19,016 shares of the iPhone maker's stock after selling 11,268 shares during the period. Apple accounts for approximately 2.1% of Infusive Asset Management Inc.'s holdings, making the stock its 20th largest position. Infusive Asset Management Inc.'s holdings in Apple were worth $4,762,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. Drystone LLC bought a new stake in shares of Apple during the fourth quarter worth approximately $25,000. Life Planning Partners Inc bought a new stake in shares of Apple during the fourth quarter worth approximately $47,000. Conquis Financial LLC bought a new stake in shares of Apple during the fourth quarter worth approximately $63,000. LSV Asset Management bought a new stake in shares of Apple during the fourth quarter worth approximately $65,000. Finally, SPX Gestao de Recursos Ltda bought a new stake in shares of Apple during the third quarter worth approximately $71,000. Institutional investors own 67.73% of the company's stock.

Apple Trading Down 1.4%

NASDAQ AAPL opened at $196.45 on Friday. 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 Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a market cap of $2.93 trillion, a price-to-earnings ratio of 31.18, a price-to-earnings-growth ratio of 2.44 and a beta of 1.22. The business's fifty day moving average is $201.76 and its 200 day moving average is $223.10.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share 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 company had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same quarter last year, the business posted $1.53 EPS. Apple's revenue for the quarter was up 5.1% on a year-over-year basis. As a group, sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal 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 dividend of $0.26 per share. 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 0.53%. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio (DPR) is currently 16.20%.

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

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of research analyst reports. Evercore ISI boosted their price objective on Apple to $250.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Rosenblatt Securities downgraded Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target on the stock. in a research report on Friday, May 2nd. Loop Capital reduced their price target on Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. DA Davidson increased their price target on Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, Citigroup reissued a "buy" rating on shares of Apple in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Apple has an average rating of "Moderate Buy" and an average target price of $234.86.

Insider Buying and Selling

In related news, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the transaction, the chief financial officer now directly owns 4,569 shares of the company's stock, valued at $941,214. This trade represents a 50.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 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 trade represents a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,507 shares of company stock valued at $42,694,080 in the last three months. Insiders own 0.06% of the company's stock.

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.

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