Apple Inc. (NASDAQ:AAPL) is Steigerwald Gordon & Koch Inc.'s Largest Position

Steigerwald Gordon & Koch Inc. decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 197,221 shares of the iPhone maker's stock after selling 3,975 shares during the quarter. Apple accounts for approximately 4.9% of Steigerwald Gordon & Koch Inc.'s portfolio, making the stock its largest position. Steigerwald Gordon & Koch Inc.'s holdings in Apple were worth $43,809,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of AAPL. Drystone LLC purchased a new stake in Apple in the fourth quarter worth approximately $25,000. Life Planning Partners Inc purchased a new position in shares of Apple during the fourth quarter valued at about $47,000. Conquis Financial LLC bought a new position in Apple in the fourth quarter worth $63,000. LSV Asset Management bought a new stake in Apple during the fourth quarter worth about $65,000. Finally, Pillar Financial Advisors LLC bought a new stake in Apple during the fourth quarter worth about $82,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AAPL shares. KeyCorp upgraded shares of Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Barclays set a $173.00 price objective on shares of Apple and gave the stock an "underweight" rating in a research note on Tuesday, June 24th. DA Davidson increased their price target on Apple from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Raymond James Financial lowered their price objective on shares of Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Finally, 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 research report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $234.95.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction that occurred 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 sale, the insider owned 15,533 shares of the company's stock, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the sale, the chief financial officer directly owned 4,569 shares in the company, valued at $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Apple Stock Up 0.4%

NASDAQ AAPL traded up $0.92 during trading on Friday, reaching $213.36. 34,955,836 shares of the company's stock traded hands, compared to its average volume of 53,594,994. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. The firm has a market cap of $3.19 trillion, a price-to-earnings ratio of 33.23, a price-to-earnings-growth ratio of 2.38 and a beta of 1.20. The company's 50 day simple moving average is $203.35 and its two-hundred day simple moving average is $218.66. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10.

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 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 firm had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same quarter in the previous year, the firm earned $1.53 EPS. The company's quarterly revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal 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 dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is currently 16.20%.

Apple declared that its Board of Directors has authorized a share repurchase program on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board 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.