Woodstock Corp Sells 2,633 Shares of Apple Inc. (NASDAQ:AAPL)

Woodstock Corp trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,842 shares of the iPhone maker's stock after selling 2,633 shares during the period. Apple accounts for approximately 3.7% of Woodstock Corp's holdings, making the stock its 5th largest holding. Woodstock Corp's holdings in Apple were worth $37,727,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Drystone LLC bought a new position in Apple in the 4th quarter valued at $25,000. Conquis Financial LLC bought a new position in Apple in the 4th quarter valued at $63,000. LSV Asset Management bought a new position in Apple in the 4th quarter valued at $65,000. Pillar Financial Advisors LLC bought a new position in Apple in the 4th quarter valued at $82,000. Finally, Compass Planning Associates Inc bought a new position in Apple in the 4th quarter valued at $96,000. Institutional investors own 67.73% of the company's stock.

Insider Activity

In related news, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer now owns 4,569 shares in the company, valued at approximately $941,214. This represents a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the sale, the insider now owns 15,533 shares in the company, valued at $3,233,815.27. The trade was a 22.41% 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 over the last three months. Corporate insiders own 0.06% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on AAPL. TD Cowen lowered their target price on Apple from $290.00 to $275.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Evercore ISI lifted their target price on Apple to $250.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Morgan Stanley reissued an "overweight" rating on shares of Apple in a research note on Friday, June 13th. Barclays set a $173.00 target price on Apple and gave the company an "underweight" rating in a research note on Tuesday, June 24th. Finally, Tigress Financial lifted their target price on Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a research note on Thursday, April 3rd. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and an average price target of $234.39.

Apple Stock Up 0.0%

Shares of Apple stock traded up $0.08 during trading on Friday, reaching $201.08. The stock had a trading volume of 73,093,456 shares, compared to its average volume of 53,360,608. The company has a market capitalization of $3.00 trillion, a price-to-earnings ratio of 31.32, a P/E/G ratio of 2.25 and a beta of 1.22. The stock has a fifty day moving average price of $202.61 and a two-hundred day moving average price of $220.03. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. 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 (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. The company had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The company's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.53 earnings per share. Sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its board has initiated a stock repurchase program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. This is a positive change from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple's payout ratio is 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.