Apple Inc. (NASDAQ:AAPL) Stock Holdings Decreased by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 9.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,064 shares of the iPhone maker's stock after selling 5,720 shares during the quarter. Apple accounts for approximately 2.3% of Princeton Global Asset Management LLC's portfolio, making the stock its 7th largest holding. Princeton Global Asset Management LLC's holdings in Apple were worth $11,787,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AAPL. Drystone LLC purchased a new stake in shares of Apple during the fourth quarter worth about $25,000. Life Planning Partners Inc purchased a new stake in shares of Apple during the fourth quarter worth about $47,000. Conquis Financial LLC purchased a new stake in shares of Apple during the fourth quarter worth about $63,000. LSV Asset Management purchased a new stake in shares of Apple during the fourth quarter worth about $65,000. Finally, Pillar Financial Advisors LLC purchased a new stake in shares of Apple during the fourth quarter worth about $82,000. 67.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

AAPL has been the subject of a number of analyst reports. Tigress Financial increased their target price on shares of Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a report on Thursday, April 3rd. TD Cowen lowered their price objective on shares of Apple from $290.00 to $275.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Wedbush restated an "outperform" rating and issued a $270.00 price objective on shares of Apple in a report on Tuesday, June 10th. The Goldman Sachs Group restated a "buy" rating on shares of Apple in a report on Wednesday, May 21st. Finally, Needham & Company LLC restated a "hold" rating on shares of Apple in a report on Tuesday, June 10th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $234.95.

Insider Buying and Selling

In other news, insider Chris Kondo sold 4,486 shares of Apple 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 owned 15,533 shares in the company, valued at $3,233,815.27. This trade represents a 22.41% 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 Apple stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the transaction, the chief financial officer owned 4,569 shares in the company, valued at $941,214. This represents a 50.01% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.06% of the company's stock.

Apple Stock Performance

NASDAQ:AAPL traded up $0.06 during trading hours on Tuesday, reaching $210.01. The company had a trading volume of 42,218,952 shares, compared to its average volume of 53,538,384. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The firm has a market cap of $3.14 trillion, a price-to-earnings ratio of 32.71, a PEG ratio of 2.38 and a beta of 1.20. The firm's 50 day moving average price is $203.34 and its 200-day moving average price is $218.13.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 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 167.24%. The business had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. During the same quarter in the previous year, the firm posted $1.53 EPS. The firm's revenue was up 5.1% on a year-over-year basis. On average, analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

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 represents a $1.04 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is 16.20%.

Apple declared that its Board of Directors has authorized 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 often a sign that the company's board of directors believes its stock is undervalued.

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.