Janney Capital Management LLC cut its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 78,299 shares of the iPhone maker's stock after selling 2,904 shares during the period. Apple makes up about 1.2% of Janney Capital Management LLC's holdings, making the stock its 19th largest holding. Janney Capital Management LLC's holdings in Apple were worth $17,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Tallon Kerry Patrick acquired a new position in Apple in the fourth quarter valued at approximately $1,877,000. First National Bank of Hutchinson lifted its holdings in Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after acquiring an additional 6,982 shares during the last quarter. Capital & Planning LLC lifted its holdings in Apple by 10.7% in the fourth quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker's stock valued at $6,836,000 after acquiring an additional 2,647 shares during the last quarter. Eagle Capital Management LLC lifted its holdings in Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after acquiring an additional 272 shares during the last quarter. Finally, Brighton Jones LLC lifted its holdings in Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after acquiring an additional 69,207 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Apple news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the sale, the insider directly owned 15,533 shares in the company, valued at $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by corporate insiders.
Apple Stock Down 0.7%
AAPL stock traded down $1.53 during mid-day trading on Tuesday, reaching $212.52. The company had a trading volume of 11,262,509 shares, compared to its average volume of 56,283,719. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The company has a market capitalization of $3.17 trillion, a price-to-earnings ratio of 33.10, a price-to-earnings-growth ratio of 2.39 and a beta of 1.20. The firm has a fifty day simple moving average of $204.87 and a 200 day simple moving average of $214.22. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The company had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. During the same period last year, the firm earned $1.53 earnings per share. Apple's quarterly revenue was up 5.1% on a year-over-year basis. Analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple announced that its board has authorized a share buyback plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its shares are undervalued.
Apple Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. 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 yield of 0.49%. Apple's dividend payout ratio (DPR) is currently 16.20%.
Analysts Set New Price Targets
A number of research firms recently commented on AAPL. Wedbush reiterated an "outperform" rating and issued a $270.00 price objective on shares of Apple in a report on Wednesday, July 9th. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research report on Friday. The Goldman Sachs Group reiterated a "buy" rating on shares of Apple in a research report on Wednesday, May 21st. Raymond James Financial dropped 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, Loop Capital decreased their price target on Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $234.94.
View Our Latest Stock Analysis on Apple
Apple Company Profile
(
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.
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