Apple Inc. (NASDAQ:AAPL) is PFG Advisors' 2nd Largest Position

PFG Advisors trimmed its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 170,732 shares of the iPhone maker's stock after selling 8,840 shares during the period. Apple makes up approximately 2.6% of PFG Advisors' portfolio, making the stock its 2nd biggest holding. PFG Advisors' holdings in Apple were worth $42,755,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Axim Planning & Wealth grew its position in Apple by 12.5% during the third quarter. Axim Planning & Wealth now owns 1,087 shares of the iPhone maker's stock valued at $253,000 after acquiring an additional 121 shares during the last quarter. Firetrail Investments PTY Ltd. purchased a new stake in Apple in the third quarter worth $31,867,000. Bell Bank lifted its stake in Apple by 15.7% in the third quarter. Bell Bank now owns 73,994 shares of the iPhone maker's stock worth $17,241,000 after acquiring an additional 10,065 shares during the period. Cable Hill Partners LLC lifted its stake in Apple by 33.6% in the third quarter. Cable Hill Partners LLC now owns 80,871 shares of the iPhone maker's stock worth $18,843,000 after acquiring an additional 20,356 shares during the period. Finally, Plato Investment Management Ltd lifted its stake in Apple by 1.8% in the third quarter. Plato Investment Management Ltd now owns 355,760 shares of the iPhone maker's stock worth $82,808,000 after acquiring an additional 6,237 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Apple Price Performance

Shares of AAPL traded down $0.73 during mid-day trading on Thursday, hitting $201.36. 46,619,795 shares of the stock were exchanged, compared to its average volume of 56,066,213. The company has a market cap of $3.01 trillion, a PE ratio of 31.96, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The firm has a 50-day moving average of $205.64 and a two-hundred day moving average of $226.26. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92.

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, topping the consensus estimate of $1.62 by $0.03. The business had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. The company's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.53 EPS. On average, equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.52%. The ex-dividend date was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is presently 16.20%.

Apple announced that its Board of Directors has authorized a share repurchase program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of research reports. The Goldman Sachs Group decreased their price objective on Apple from $259.00 to $256.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Barclays reduced their price objective on Apple from $197.00 to $173.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Tigress Financial lifted their price objective on Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a report on Thursday, April 3rd. Morgan Stanley restated an "overweight" rating on shares of Apple in a research note on Monday, May 12th. Finally, Needham & Company LLC restated a "buy" rating and set a $225.00 price target on shares of Apple in a research note on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and a consensus price target of $235.80.

Insider Activity at Apple

In other Apple news, CEO Timothy D. Cook sold 108,136 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was 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 legal filing with the SEC, which is available through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the transaction, the chief financial officer now directly owns 4,569 shares in the company, valued at $941,214. The trade was a 50.01% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,507 shares of company stock worth $42,694,080. Company insiders own 0.06% of the company's stock.

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.