Norman Fields Gottscho Capital Management LLC trimmed its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 11.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 124,731 shares of the iPhone maker's stock after selling 15,491 shares during the quarter. Apple makes up approximately 9.3% of Norman Fields Gottscho Capital Management LLC's holdings, making the stock its 4th largest position. Norman Fields Gottscho Capital Management LLC's holdings in Apple were worth $27,706,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the company. Advanced Portfolio Management LLC grew its position in Apple by 0.3% during the fourth 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 in the last quarter. Hanseatic Management Services Inc. grew its position in 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 buying an additional 48 shares in the last quarter. Family Capital Management Inc. grew its position in 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 buying an additional 48 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its position in 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 buying an additional 48 shares in the last quarter. Finally, Scarborough Advisors LLC grew its position in Apple by 0.3% during the fourth quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock worth $3,992,000 after buying an additional 51 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.
Insider Activity
In other Apple news, SVP Katherine L. Adams sold 38,822 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were 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 $40,072,269.86. The trade was a 17.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction 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 approximately $733,637,976.75. This 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 over the last 90 days. Insiders own 0.06% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on AAPL shares. Citigroup reiterated a "buy" rating on shares of Apple in a research note on Tuesday, June 10th. The Goldman Sachs Group reiterated a "buy" rating on shares of Apple in a research note on Wednesday, May 21st. TD Cowen decreased their price target on Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. UBS Group reiterated a "buy" rating on shares of Apple in a research note on Sunday, June 1st. Finally, KeyCorp upgraded Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Three 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 given a strong buy rating to the stock. According to MarketBeat, Apple presently has an average rating of "Moderate Buy" and a consensus price target of $234.86.
Check Out Our Latest Research Report on Apple
Apple Stock Performance
Shares of AAPL stock opened at $201.50 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The stock has a market capitalization of $3.01 trillion, a PE ratio of 31.39, a P/E/G ratio of 2.24 and a beta of 1.22. The firm has a 50 day moving average of $202.33 and a two-hundred day moving average of $221.12.
Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.62 by $0.03. The firm had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. Apple's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the business earned $1.53 EPS. On average, research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is 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 issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is 16.20%.
About Apple
(
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.
See Also
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