Apple Inc. (NASDAQ:AAPL) Shares Sold by Tealwood Asset Management Inc.

Tealwood Asset Management Inc. lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 52.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,325 shares of the iPhone maker's stock after selling 11,333 shares during the quarter. Tealwood Asset Management Inc.'s holdings in Apple were worth $2,293,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Regent Peak Wealth Advisors LLC grew its stake in shares of Apple by 0.9% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 111,858 shares of the iPhone maker's stock worth $28,012,000 after acquiring an additional 1,050 shares during the last quarter. Tallon Kerry Patrick bought a new position in Apple during the 4th quarter valued at about $1,877,000. First National Bank of Hutchinson lifted its stake in Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after acquiring an additional 6,982 shares during the period. Capital & Planning LLC lifted its stake in Apple by 10.7% during the 4th quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker's stock valued at $6,836,000 after acquiring an additional 2,647 shares during the period. Finally, Smart Money Group LLC lifted its stake in Apple by 8.8% during the 4th quarter. Smart Money Group LLC now owns 7,291 shares of the iPhone maker's stock valued at $1,826,000 after acquiring an additional 592 shares during the period. Institutional investors own 67.73% of the company's stock.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction dated Monday, May 12th. The stock was 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 in the company, valued at approximately $3,233,815.27. The trade was a 22.41% 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, CFO Kevan Parekh sold 4,570 shares of the business's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the sale, the chief financial officer owned 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. 0.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AAPL shares. Monness Crespi & Hardt increased their price objective on shares of Apple to $245.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research note on Tuesday, June 10th. Scotiabank cut shares of Apple to a "market perform" rating in a research note on Friday, May 2nd. Rosenblatt Securities cut shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price objective on the stock. in a research note on Friday, May 2nd. Finally, Wedbush reissued an "outperform" rating and issued a $270.00 target price on shares of Apple in a report on Wednesday. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $234.95.

Apple Stock Down 0.1%

AAPL traded down $0.17 on Wednesday, hitting $209.85. The company had a trading volume of 29,290,341 shares, compared to its average volume of 53,423,896. The stock has a fifty day moving average price of $203.32 and a 200-day moving average price of $218.08. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The stock has a market capitalization of $3.13 trillion, a price-to-earnings ratio of 32.67, a P/E/G ratio of 2.34 and a beta of 1.20.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $94.04 billion. During the same quarter in the previous year, the firm earned $1.53 earnings per share. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. Analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its Board of Directors has approved a share buyback plan 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 plans are typically an indication that the company's leadership believes its shares are undervalued.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid 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 of this dividend was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.50%. Apple's payout ratio is presently 16.20%.

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.