Mesirow Financial Investment Management Inc. Lowers Position in Apple Inc. (NASDAQ:AAPL)

Mesirow Financial Investment Management Inc. trimmed its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,100,235 shares of the iPhone maker's stock after selling 15,195 shares during the period. Apple comprises approximately 5.5% of Mesirow Financial Investment Management Inc.'s investment portfolio, making the stock its 3rd biggest position. Mesirow Financial Investment Management Inc.'s holdings in Apple were worth $275,523,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of AAPL. Mach 1 Financial Group LLC increased its holdings in Apple by 9.5% in the third quarter. Mach 1 Financial Group LLC now owns 13,320 shares of the iPhone maker's stock valued at $3,104,000 after purchasing an additional 1,158 shares during the period. 17 Capital Partners LLC increased its holdings in Apple by 10.5% in the third quarter. 17 Capital Partners LLC now owns 8,498 shares of the iPhone maker's stock valued at $1,980,000 after purchasing an additional 810 shares during the period. Summit Wealth & Retirement Planning Inc. increased its holdings in Apple by 21.8% in the third quarter. Summit Wealth & Retirement Planning Inc. now owns 28,062 shares of the iPhone maker's stock valued at $6,538,000 after purchasing an additional 5,021 shares during the period. Avid Wealth Partners LLC increased its holdings in Apple by 11.1% in the third quarter. Avid Wealth Partners LLC now owns 3,652 shares of the iPhone maker's stock valued at $851,000 after purchasing an additional 365 shares during the period. Finally, Costello Asset Management INC increased its holdings in Apple by 8.5% in the third quarter. Costello Asset Management INC now owns 7,939 shares of the iPhone maker's stock valued at $1,850,000 after purchasing an additional 620 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Down 0.1%

NASDAQ AAPL traded down $0.19 during trading hours on Friday, hitting $211.26. The company's stock had a trading volume of 53,614,750 shares, compared to its average volume of 55,997,127. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a market capitalization of $3.16 trillion, a PE ratio of 33.53, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company's 50-day simple moving average is $206.09 and its two-hundred day simple moving average is $226.66.

Apple (NASDAQ:AAPL - Get Free Report) last announced 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. The business had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.53 EPS. Research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is presently 16.20%.

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

Analysts Set New Price Targets

A number of analysts recently weighed in on AAPL shares. DA Davidson increased their price objective on Apple from $230.00 to $250.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Tigress Financial increased their price target on Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a report on Thursday, April 3rd. Rosenblatt Securities downgraded Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target for the company. in a report on Friday, May 2nd. China Renaissance initiated coverage on Apple in a report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price target for the company. Finally, Loop Capital decreased their price target on Apple from $230.00 to $215.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $235.80.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 108,136 shares of the business's 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 $733,637,976.75. The trade was a 3.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the sale, the chief financial officer now directly owns 4,569 shares in the company, valued at $941,214. This trade represents a 50.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,507 shares of company stock worth $42,694,080 in the last 90 days. Insiders own 0.06% of the company's stock.

About Apple

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.