Apple Inc. (NASDAQ:AAPL) Holdings Cut by Keynote Financial Services LLC

Keynote Financial Services LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 7.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,423 shares of the iPhone maker's stock after selling 3,255 shares during the quarter. Apple comprises about 8.0% of Keynote Financial Services LLC's portfolio, making the stock its biggest holding. Keynote Financial Services LLC's holdings in Apple were worth $10,373,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. PCG Asset Management LLC acquired a new position in Apple in the fourth quarter valued at approximately $5,032,000. Sharkey Howes & Javer raised its position in Apple by 7.9% in the fourth quarter. Sharkey Howes & Javer now owns 5,467 shares of the iPhone maker's stock valued at $1,369,000 after purchasing an additional 399 shares during the period. Sherman Asset Management Inc. acquired a new position in shares of Apple in the 4th quarter valued at $3,642,000. Onefund LLC grew its holdings in shares of Apple by 3.0% during the 4th quarter. Onefund LLC now owns 41,022 shares of the iPhone maker's stock worth $10,273,000 after purchasing an additional 1,178 shares during the period. Finally, Chase Investment Counsel Corp increased its position in shares of Apple by 35.0% during the 4th quarter. Chase Investment Counsel Corp now owns 47,066 shares of the iPhone maker's stock worth $11,786,000 after purchasing an additional 12,210 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

Apple stock traded up $1.04 during mid-day trading on Friday, hitting $198.53. 36,406,804 shares of the company were exchanged, compared to its average volume of 56,093,894. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The company has a market capitalization of $2.97 trillion, a P/E ratio of 31.51, a PEG ratio of 2.44 and a beta of 1.27. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The business's 50 day simple moving average is $208.09 and its two-hundred day simple moving average is $227.36.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 160.83%. The firm had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. During the same period in the previous year, the company earned $1.53 EPS. Apple's revenue for the quarter was up 5.1% on a year-over-year basis. Analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple declared that its Board of Directors has approved a share buyback plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 12th will be 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 is Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.52%. Apple's dividend payout ratio is 16.20%.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 38,822 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the transaction, the senior vice president now directly owns 179,158 shares in the company, valued at $40,072,269.86. This trade represents a 17.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 now owns 4,569 shares of the company's stock, valued at $941,214. The trade was a 50.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 187,021 shares of company stock valued at $41,760,140 over the last quarter. Company insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AAPL shares. Scotiabank lowered shares of Apple to a "market perform" rating in a report on Friday, May 2nd. Maxim Group boosted their price target on shares of Apple to $215.00 and gave the stock a "hold" rating in a report on Friday, February 21st. Needham & Company LLC restated a "buy" rating and set a $225.00 target price on shares of Apple in a research note on Friday, May 2nd. Loop Capital dropped their price objective on Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Finally, Citigroup reiterated a "cautious" rating on shares of Apple in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $235.80.

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.