UG Investment Advisers Ltd. Has $21.64 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

UG Investment Advisers Ltd. trimmed its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 51.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,414 shares of the iPhone maker's stock after selling 105,249 shares during the quarter. Apple accounts for 5.9% of UG Investment Advisers Ltd.'s holdings, making the stock its 5th biggest holding. UG Investment Advisers Ltd.'s holdings in Apple were worth $21,639,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AAPL. Life Planning Partners Inc acquired a new stake in Apple during the 4th quarter worth approximately $47,000. Conquis Financial LLC acquired a new stake in Apple during the 4th quarter worth approximately $63,000. LSV Asset Management acquired a new stake in Apple during the 4th quarter worth approximately $65,000. Pillar Financial Advisors LLC bought a new position in Apple during the 4th quarter worth approximately $82,000. Finally, Compass Planning Associates Inc bought a new position in Apple during the 4th quarter worth approximately $96,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AAPL has been the topic of several research analyst reports. Bank of America increased their target price on shares of Apple from $235.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday. Rosenblatt Securities reissued a "neutral" rating and set a $217.00 target price on shares of Apple in a research note on Tuesday. UBS Group increased their target price on shares of Apple from $210.00 to $220.00 and gave the stock a "neutral" rating in a research note on Friday. Monness Crespi & Hardt increased their target price on shares of Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Apple in a research note on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $237.25.

Insider Activity

In other news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction dated 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 $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 link. 0.06% of the stock is currently owned by insiders.

Apple Trading Down 2.2%

AAPL stock traded down $4.62 on Friday, reaching $202.95. The company's stock had a trading volume of 46,370,982 shares, compared to its average volume of 56,587,043. 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 firm has a market cap of $3.03 trillion, a PE ratio of 31.63, a PEG ratio of 2.30 and a beta of 1.20. The business has a fifty day simple moving average of $205.22 and a two-hundred day simple moving average of $213.98. 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 results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 167.24% and a net margin of 24.30%. The firm had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same period last year, the company earned $1.40 earnings per share. The company's revenue was up 9.6% on a year-over-year basis. As a group, research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, August 11th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. Apple's payout ratio is presently 16.20%.

Apple announced that its board has initiated a share buyback plan on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership 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.