Nottingham Advisors Inc. Sells 4,617 Shares of Apple Inc. (NASDAQ:AAPL)

Nottingham Advisors Inc. cut its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 27.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,349 shares of the iPhone maker's stock after selling 4,617 shares during the quarter. Nottingham Advisors Inc.'s holdings in Apple were worth $3,092,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. O Connor Financial Group LLC raised its stake 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 acquiring an additional 41 shares in the last quarter. Hanseatic Management Services Inc. raised its position in Apple by 1.3% in the 4th 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 stake in Apple by 0.3% in 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 last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted 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 valued at $4,178,000 after buying an additional 48 shares during the period. Finally, Scarborough Advisors LLC grew its stake in shares of Apple by 0.3% during the fourth quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock valued at $3,992,000 after buying an additional 51 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AAPL has been the subject of a number of recent research reports. Tigress Financial boosted their target price on Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a research note on Thursday, April 3rd. Evercore ISI boosted their price objective on Apple to $250.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Bank of America restated a "buy" rating and issued a $235.00 target price on shares of Apple in a report on Tuesday. Citigroup reaffirmed a "buy" rating on shares of Apple in a research note on Tuesday. Finally, Loop Capital cut their price target on shares of Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $234.86.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,486 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider now directly owns 15,533 shares of the company's stock, 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 SEC, which is available at the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the sale, the chief financial officer now owns 4,569 shares of the company's stock, valued at $941,214. The trade was a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 191,507 shares of company stock valued at $42,694,080. 0.06% of the stock is owned by insiders.

Apple Stock Up 0.0%

NASDAQ AAPL traded up $0.06 during trading hours on Thursday, reaching $198.84. 14,546,869 shares of the company's stock traded hands, compared to its average volume of 55,449,083. The firm has a market cap of $2.97 trillion, a PE ratio of 31.56, a PEG ratio of 2.44 and a beta of 1.22. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The firm has a 50-day simple moving average of $200.92 and a 200 day simple moving average of $223.60.

Apple (NASDAQ:AAPL - Get Free Report) last released its 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. Apple had a return on equity of 160.83% and a net margin of 24.30%. The business had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same period in the previous year, the company posted $1.53 earnings per share. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a $0.26 dividend. This is a boost 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 dividend on an annualized basis and a yield of 0.52%. Apple's payout ratio is presently 16.20%.

Apple declared that its board has initiated a share buyback program 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 programs are often an indication that the company's board of directors believes its stock is undervalued.

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.