Taylor Hoffman Capital Management LLC Sells 1,297 Shares of Apple Inc. (NASDAQ:AAPL)

Taylor Hoffman Capital Management LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,974 shares of the iPhone maker's stock after selling 1,297 shares during the quarter. Apple comprises about 8.6% of Taylor Hoffman Capital Management LLC's portfolio, making the stock its biggest holding. Taylor Hoffman Capital Management LLC's holdings in Apple were worth $23,783,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AAPL. Norges Bank bought a new position in shares of Apple during the 4th quarter worth approximately $46,868,648,000. Vanguard Group Inc. boosted its stake in Apple by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after purchasing an additional 49,168,843 shares during the period. Proficio Capital Partners LLC boosted its stake in Apple by 23,555.4% in the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock valued at $5,272,653,000 after purchasing an additional 20,966,232 shares during the period. Northern Trust Corp boosted its stake in Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after purchasing an additional 20,079,472 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Apple by 14.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock valued at $26,220,566,000 after purchasing an additional 13,137,968 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research report on Tuesday, June 10th. Bank of America reiterated a "buy" rating and set a $235.00 target price on shares of Apple in a research report on Tuesday, June 10th. Evercore ISI boosted their price target on Apple to $250.00 and gave the stock a "buy" rating in a report on Friday, June 6th. UBS Group reissued a "buy" rating on shares of Apple in a report on Sunday, June 1st. Finally, Scotiabank cut Apple to a "market perform" rating in a report on Friday, May 2nd. Three 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. Based on data from MarketBeat, Apple has a consensus rating of "Moderate Buy" and an average price target of $234.86.

Apple Trading Down 1.4%

Shares of AAPL stock opened at $195.64 on Wednesday. The stock has a market cap of $2.92 trillion, a price-to-earnings ratio of 30.47, a PEG ratio of 2.22 and a beta of 1.22. The stock has a 50-day moving average of $202.21 and a 200-day moving average of $222.47. 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 1-year low of $169.21 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The company had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. During the same quarter in the prior year, the firm posted $1.53 earnings per share. The business's quarterly revenue was up 5.1% on a year-over-year basis. On average, equities research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a dividend of $0.26 per share. This is a positive change from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.53%. Apple's dividend payout ratio is presently 16.20%.

Apple declared that its Board of Directors has initiated a stock 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 stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Insider Activity at Apple

In other Apple news, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $733,637,976.75. This represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the transaction, the chief operating officer now owns 390,059 shares in the company, valued at approximately $87,377,116.59. The trade was a 8.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,507 shares of company stock worth $42,694,080 in the last 90 days. Corporate 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.

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