Nicholson Meyer Capital Management Inc. Acquires Shares of 10,957 Apple Inc. $AAPL

Nicholson Meyer Capital Management Inc. acquired a new position in Apple Inc. (NASDAQ:AAPL - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,957 shares of the iPhone maker's stock, valued at approximately $2,434,000. Apple makes up approximately 2.2% of Nicholson Meyer Capital Management Inc.'s investment portfolio, making the stock its 13th largest holding.

Other large investors also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Apple in the fourth quarter worth $46,868,648,000. GAMMA Investing LLC increased its holdings in Apple by 25,934.1% in the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker's stock valued at $133,425,490,000 after acquiring an additional 59,835,676 shares during the last quarter. Vanguard Group Inc. lifted its stake in Apple by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock worth $349,532,608,000 after purchasing an additional 49,168,843 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Apple by 23,555.4% during the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock valued at $5,272,653,000 after purchasing an additional 20,966,232 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after purchasing an additional 20,079,472 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Transactions at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Rosenblatt Securities reissued a "neutral" rating and set a $217.00 price target on shares of Apple in a research note on Tuesday, July 29th. Morgan Stanley increased their target price on Apple from $235.00 to $240.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. UBS Group boosted their price target on shares of Apple from $210.00 to $220.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Jefferies Financial Group raised shares of Apple from an "underperform" rating to a "hold" rating in a report on Friday, July 18th. Finally, DA Davidson restated a "buy" rating and set a $250.00 price objective on shares of Apple in a research report on Friday, August 1st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $237.60.

Apple Price Performance

Shares of AAPL traded down $0.75 during mid-day trading on Monday, hitting $230.85. The company's stock had a trading volume of 15,897,449 shares, compared to its average volume of 57,745,789. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The firm has a market capitalization of $3.43 trillion, a P/E ratio of 35.04, a P/E/G ratio of 2.42 and a beta of 1.16. The firm has a 50-day simple moving average of $209.69 and a 200 day simple moving average of $212.97.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The company had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm's quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company posted $1.40 earnings per share. Analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

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

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.5%. Apple's payout ratio is presently 15.78%.

About Apple

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.