Olstein Capital Management L.P. Has $5.11 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Olstein Capital Management L.P. boosted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 100.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 23,000 shares of the iPhone maker's stock after buying an additional 11,500 shares during the period. Olstein Capital Management L.P.'s holdings in Apple were worth $5,109,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Drystone LLC acquired a new position in shares of Apple during the 4th quarter worth approximately $25,000. Conquis Financial LLC acquired a new stake in shares of Apple during the 4th quarter worth approximately $63,000. LSV Asset Management acquired a new stake in shares of Apple during the 4th quarter worth approximately $65,000. Pillar Financial Advisors LLC acquired a new stake in shares of Apple during the 4th quarter worth approximately $82,000. Finally, Compass Planning Associates Inc bought a new position in Apple in the 4th quarter valued at approximately $96,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on AAPL shares. Rosenblatt Securities downgraded shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price objective for the company. in a research note on Friday, May 2nd. DA Davidson increased their price objective on shares of Apple from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Barclays set a $173.00 price objective on shares of Apple and gave the company an "underweight" rating in a research note on Tuesday, June 24th. KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Finally, Bank of America reissued a "buy" rating and issued a $235.00 price objective on shares of Apple in a research note on Tuesday, June 10th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Apple has an average rating of "Moderate Buy" and a consensus price target of $235.27.

Apple Trading Up 0.6%

NASDAQ:AAPL opened at $212.41 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $3.17 trillion, a price-to-earnings ratio of 33.09, a PEG ratio of 2.36 and a beta of 1.20. The firm has a fifty day simple moving average of $203.27 and a two-hundred day simple moving average of $217.73. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business's revenue was up 5.1% on a year-over-year basis. During the same period last year, the company earned $1.53 earnings per share. Analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently disclosed 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 a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio (DPR) is currently 16.20%.

Apple announced that its Board of Directors has approved a stock repurchase program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Insider Transactions at Apple

In related news, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the transaction, the chief financial officer directly owned 4,569 shares of the company's stock, valued at $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider directly owned 15,533 shares in the company, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.