Neo Ivy Capital Management Sells 13,081 Shares of Apple Inc. (NASDAQ:AAPL)

Neo Ivy Capital Management decreased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 71.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,139 shares of the iPhone maker's stock after selling 13,081 shares during the quarter. Apple accounts for approximately 2.2% of Neo Ivy Capital Management's investment portfolio, making the stock its 2nd largest position. Neo Ivy Capital Management's holdings in Apple were worth $989,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in Apple in the 4th quarter valued at approximately $33,912,466,000. International Assets Investment Management LLC lifted its stake in shares of Apple by 14,395.4% in the 4th quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker's stock valued at $136,119,470,000 after acquiring an additional 70,212,651 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of Apple by 130.1% during the 4th quarter. Cerity Partners LLC now owns 9,430,190 shares of the iPhone maker's stock valued at $1,815,594,000 after acquiring an additional 5,331,439 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new stake in Apple during the 4th quarter worth $560,388,000. Finally, Hudson Bay Capital Management LP acquired a new position in Apple in the 3rd quarter worth about $487,435,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Apple

In other Apple news, COO Jeffrey E. Williams sold 59,162 shares of Apple stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the completion of the transaction, the chief operating officer now owns 489,944 shares of the company's stock, valued at approximately $84,378,155.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Jeffrey E. Williams sold 59,162 shares of the company's stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $172.22, for a total value of $10,188,879.64. Following the transaction, the chief operating officer now owns 489,944 shares of the company's stock, valued at $84,378,155.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Luca Maestri sold 53,194 shares of the business's stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $174.12, for a total value of $9,262,139.28. Following the transaction, the chief financial officer now owns 107,788 shares of the company's stock, valued at $18,768,046.56. The disclosure for this sale can be found here. Insiders sold 366,271 shares of company stock valued at $63,653,887 over the last three months. Company insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on AAPL. UBS Group restated a "hold" rating and issued a $190.00 price target on shares of Apple in a research report on Monday, March 25th. Maxim Group began coverage on Apple in a report on Wednesday, April 17th. They set a "hold" rating and a $178.00 target price on the stock. Redburn Atlantic cut Apple from a "buy" rating to a "neutral" rating and set a $200.00 price target for the company. in a research note on Wednesday, January 10th. Itau BBA Securities upgraded Apple from an "underperform" rating to a "market perform" rating and raised their price objective for the stock from $162.00 to $188.00 in a research report on Friday. Finally, Barclays upped their target price on Apple from $158.00 to $164.00 and gave the company an "underweight" rating in a report on Friday. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $204.00.

Apple Stock Performance

Shares of NASDAQ:AAPL traded up $10.35 during mid-day trading on Friday, reaching $183.38. The company had a trading volume of 163,224,109 shares, compared to its average volume of 59,692,680. Apple Inc. has a one year low of $164.07 and a one year high of $199.62. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28. The company's 50-day moving average price is $172.17 and its 200-day moving average price is $181.60. The firm has a market cap of $2.83 trillion, a price-to-earnings ratio of 28.52, a PEG ratio of 2.09 and a beta of 1.26.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.02. The firm had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. Apple had a return on equity of 153.25% and a net margin of 26.31%. The business's revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 earnings per share. As a group, equities research analysts anticipate that Apple Inc. will post 6.53 EPS for the current fiscal year.

Apple announced that its Board of Directors has initiated a stock buyback program on Thursday, May 2nd that permits the company to repurchase $110.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are undervalued.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 13th will be issued a dividend of $0.25 per share. This is a boost from Apple's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.55%. Apple's payout ratio is presently 14.93%.

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.