Orleans Capital Management Corp LA Sells 2,674 Shares of Apple Inc. (NASDAQ:AAPL)

Orleans Capital Management Corp LA decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,280 shares of the iPhone maker's stock after selling 2,674 shares during the quarter. Apple makes up approximately 6.3% of Orleans Capital Management Corp LA's holdings, making the stock its biggest holding. Orleans Capital Management Corp LA's holdings in Apple were worth $10,998,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Drystone LLC bought a new position in Apple in the 4th quarter worth about $25,000. Life Planning Partners Inc bought a new position in Apple in the 4th quarter worth about $47,000. SPX Gestao de Recursos Ltda bought a new position in Apple in the 3rd quarter worth about $71,000. Pillar Financial Advisors LLC bought a new position in shares of Apple in the fourth quarter valued at approximately $82,000. Finally, Compass Planning Associates Inc bought a new position in shares of Apple in the fourth quarter valued at approximately $96,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Transactions at Apple

In other news, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the transaction, the chief operating officer now owns 390,059 shares in the company, valued at $87,377,116.59. This represents a 8.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This trade represents a 3.19% 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 worth $42,694,080 in the last 90 days. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several recent analyst reports. 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 report on Friday, May 2nd. Scotiabank cut shares of Apple to a "market perform" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. decreased their price objective on shares of Apple from $270.00 to $245.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Tigress Financial increased their price objective on shares of Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a report on Thursday, April 3rd. Finally, Maxim Group increased their price objective on shares of Apple to $215.00 and gave the company a "hold" rating in a report on Friday, February 21st. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $234.86.

Apple Stock Down 1.4%

AAPL stock traded down $2.75 during midday trading on Friday, reaching $196.45. The company had a trading volume of 51,345,532 shares, compared to its average volume of 54,804,401. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $2.93 trillion, a P/E ratio of 31.18, a PEG ratio of 2.44 and a beta of 1.22. The company has a 50 day moving average of $201.76 and a two-hundred day moving average of $223.10.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 160.83%. The company had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. During the same quarter in the prior year, the firm earned $1.53 EPS. The company's revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

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

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a $0.26 dividend. 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 dividend on an annualized basis and a yield of 0.53%. Apple's dividend payout ratio is presently 16.20%.

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.