Lee Danner & Bass Inc. Has $62.68 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Lee Danner & Bass Inc. lowered its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 250,297 shares of the iPhone maker's stock after selling 12,547 shares during the quarter. Apple makes up 5.0% of Lee Danner & Bass Inc.'s portfolio, making the stock its 3rd biggest position. Lee Danner & Bass Inc.'s holdings in Apple were worth $62,679,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. O Connor Financial Group LLC lifted its holdings in shares of Apple by 1.2% during the fourth quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker's stock worth $896,000 after purchasing an additional 41 shares during the period. Menard Financial Group LLC lifted its holdings in shares of Apple by 0.4% during the third quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker's stock worth $2,848,000 after purchasing an additional 48 shares during the period. Hanseatic Management Services Inc. lifted its holdings in shares of Apple by 1.3% during the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock worth $945,000 after purchasing an additional 48 shares during the period. Family Capital Management Inc. lifted its holdings in shares of Apple by 0.3% during the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock worth $4,235,000 after purchasing an additional 48 shares during the period. Finally, Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of Apple by 0.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock worth $4,178,000 after purchasing an additional 48 shares during the period. Institutional investors own 67.73% of the company's stock.

Apple Stock Performance

Shares of NASDAQ AAPL traded down $0.94 during trading on Friday, reaching $199.01. The stock had a trading volume of 70,744,759 shares, compared to its average volume of 56,229,633. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The stock has a market cap of $2.97 trillion, a PE ratio of 31.59, a P/E/G ratio of 2.44 and a beta of 1.27. The firm's 50 day moving average price is $203.10 and its two-hundred day moving average price is $225.02.

Apple (NASDAQ:AAPL - Get Free Report) last issued its 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 during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. Apple's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.53 earnings per share. On average, research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple declared that its Board of Directors has initiated a share buyback program on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its stock is undervalued.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a dividend of $0.26 per share. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. Apple's payout ratio is 16.20%.

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 108,136 shares of the 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 sale, the chief executive officer now owns 3,280,295 shares of the company's stock, valued at $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 is accessible through the SEC website. Also, SVP Katherine L. Adams sold 38,822 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the sale, the senior vice president now directly owns 179,158 shares in the company, valued at approximately $40,072,269.86. This trade represents a 17.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,507 shares of company stock valued at $42,694,080 in the last quarter. Company insiders own 0.06% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AAPL shares. Bank of America decreased their price target on Apple from $250.00 to $240.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Redburn Partners set a $230.00 price objective on Apple in a research report on Friday, January 31st. Evercore ISI increased their price objective on Apple from $260.00 to $275.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 18th. Morgan Stanley reiterated an "overweight" rating on shares of Apple in a research report on Monday, May 12th. Finally, JPMorgan Chase & Co. cut their price objective on Apple from $270.00 to $245.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $235.80.

Apple 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.