Apple Inc. (NASDAQ:AAPL) is Peninsula Asset Management Inc.'s 3rd Largest Position

Peninsula Asset Management Inc. trimmed its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 49,006 shares of the iPhone maker's stock after selling 1,600 shares during the quarter. Apple makes up 6.5% of Peninsula Asset Management Inc.'s holdings, making the stock its 3rd largest position. Peninsula Asset Management Inc.'s holdings in Apple were worth $12,272,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of AAPL. State Street Corp grew its position in shares of Apple by 10.6% during the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock worth $136,074,372,000 after purchasing an additional 55,935,105 shares in the last quarter. FMR LLC grew its position in shares of Apple by 5.3% during the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock worth $84,779,231,000 after purchasing an additional 18,224,005 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Apple by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock worth $77,542,863,000 after acquiring an additional 20,483,787 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Apple by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 98,099,411 shares of the iPhone maker's stock worth $24,566,054,000 after acquiring an additional 3,156,680 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Apple by 1.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,568,390 shares of the iPhone maker's stock worth $21,335,435,000 after acquiring an additional 1,742,087 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of research analyst reports. China Renaissance initiated coverage on shares of Apple in a research report on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 target price on the stock. Loop Capital decreased their target price on shares of Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Tigress Financial upped their price objective on shares of Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a research report on Thursday, April 3rd. UBS Group reduced their price objective on shares of Apple from $236.00 to $210.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Finally, KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $235.80.

Apple Stock Performance

Shares of AAPL stock traded down $0.47 during trading on Thursday, reaching $199.95. 51,367,725 shares of the company's stock traded hands, compared to its average volume of 56,221,859. 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 $2.99 trillion, a P/E ratio of 31.74, a PEG ratio of 2.44 and a beta of 1.27. The firm's 50-day moving average is $203.59 and its 200 day moving average is $225.20.

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

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a $0.26 dividend. The ex-dividend date was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.52%. Apple's dividend payout ratio is currently 16.20%.

Apple announced that its Board of Directors has initiated a share repurchase 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 buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the transaction, the chief executive officer now owns 3,280,295 shares of the company's stock, valued at $733,637,976.75. This represents a 3.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Chris Kondo sold 4,486 shares of the stock in a transaction on 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 now directly owns 15,533 shares in the company, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,507 shares of company stock worth $42,694,080 in the last three months. 0.06% of the stock is currently owned by corporate 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.