Integrated Advisors Network LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 10.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 245,584 shares of the iPhone maker's stock after selling 28,520 shares during the quarter. Apple accounts for approximately 2.8% of Integrated Advisors Network LLC's holdings, making the stock its 3rd largest position. Integrated Advisors Network LLC's holdings in Apple were worth $54,552,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. Advanced Portfolio Management LLC grew its stake in Apple by 0.3% during the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock worth $3,260,000 after buying an additional 47 shares during the last quarter. Family Capital Management Inc. lifted its holdings 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. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings 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. Scarborough Advisors LLC increased its stake in shares of Apple by 0.3% in the 4th quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock valued at $3,992,000 after purchasing an additional 51 shares in the last quarter. Finally, Disciplined Investments LLC increased its stake in Apple by 0.7% during the 4th quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker's stock worth $1,794,000 after buying an additional 51 shares in the last quarter. Institutional investors own 67.73% of the company's stock.
Insider Activity at Apple
In other news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction 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 completion of the sale, the insider owned 15,533 shares of the company's stock, valued at approximately $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 accessible through this link. Also, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction 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 directly owned 4,569 shares of the company's stock, valued at $941,214. The trade was a 50.01% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.
Analyst Ratings Changes
AAPL has been the topic of a number of recent analyst reports. KeyCorp upgraded Apple from an "underweight" rating to a "sector weight" rating in a report on Monday, April 14th. Jefferies Financial Group raised Apple from an "underperform" rating to a "hold" rating and raised their price objective for the stock from $170.62 to $188.32 in a report on Tuesday, July 1st. Morgan Stanley restated an "overweight" rating on shares of Apple in a research note on Friday, June 13th. Raymond James Financial reduced their price target on shares of Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Finally, Bank of America restated a "buy" rating and set a $235.00 price objective on shares of Apple in a research report on Tuesday, June 10th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $235.27.
Check Out Our Latest Analysis on AAPL
Apple Price Performance
AAPL stock opened at $211.16 on Friday. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company has a fifty day moving average price of $203.39 and a 200-day moving average price of $217.12. The company has a market capitalization of $3.15 trillion, a P/E ratio of 32.89, a PEG ratio of 2.36 and a beta of 1.20. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data 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. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. During the same period last year, the company earned $1.53 earnings per share. The business's revenue was up 5.1% on a year-over-year basis. As a group, equities analysts expect that Apple Inc. will post 7.28 EPS for the current year.
Apple announced that its board has authorized a share 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 stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.
Apple Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.49%. Apple's dividend payout ratio (DPR) is 16.20%.
Apple Company Profile
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Free Report)
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.
Further Reading
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