PFC Capital Group Inc. Sells 2,335 Shares of Apple Inc. (NASDAQ:AAPL)

PFC Capital Group Inc. decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,074 shares of the iPhone maker's stock after selling 2,335 shares during the quarter. Apple accounts for approximately 12.2% of PFC Capital Group Inc.'s holdings, making the stock its biggest position. PFC Capital Group Inc.'s holdings in Apple were worth $25,310,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Drystone LLC purchased a new position in shares of Apple during the 4th quarter valued at $25,000. SPX Gestao de Recursos Ltda purchased a new stake in shares of Apple during the third quarter worth $71,000. Pillar Financial Advisors LLC acquired a new stake in Apple during the fourth quarter valued at $82,000. Compass Planning Associates Inc purchased a new position in Apple in the fourth quarter valued at about $96,000. Finally, Collier Financial acquired a new position in Apple in the 4th quarter worth about $140,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Barclays reduced their price target on Apple from $197.00 to $173.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Citigroup reaffirmed a "cautious" rating on shares of Apple in a research report on Monday, May 5th. China Renaissance started coverage on shares of Apple in a research report on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 target price for the company. Evercore ISI raised their price target on shares of Apple to $250.00 and gave the company a "buy" rating in a report on Friday. Finally, Bank of America reiterated a "buy" rating and issued a $235.00 price objective on shares of Apple in a report on Tuesday. 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's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $234.86.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 4,486 shares of Apple 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 sale, the insider now directly owns 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 3,280,295 shares of the company's stock, valued at $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 191,507 shares of company stock valued at $42,694,080 in the last 90 days. 0.06% of the stock is currently owned by company insiders.

Apple Stock Performance

Shares of NASDAQ AAPL traded up $1.22 during mid-day trading on Tuesday, hitting $202.67. The company had a trading volume of 52,015,754 shares, compared to its average volume of 56,214,415. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The firm has a market cap of $3.03 trillion, a P/E ratio of 32.17, a PEG ratio of 2.44 and a beta of 1.22. The business's 50-day simple moving average is $200.72 and its 200-day simple moving average is $223.92. 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 (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The company had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. The company's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $1.53 EPS. As a group, analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

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 yield of 0.51%. The ex-dividend date of this dividend was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is 16.20%.

Apple declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its stock is undervalued.

Apple Company 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.