Roffman Miller Associates Inc. PA Has $121.43 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Roffman Miller Associates Inc. PA cut its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 484,891 shares of the iPhone maker's stock after selling 13,521 shares during the quarter. Apple accounts for 7.5% of Roffman Miller Associates Inc. PA's holdings, making the stock its largest position. Roffman Miller Associates Inc. PA's holdings in Apple were worth $121,426,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Drystone LLC acquired a new position in Apple during the fourth quarter valued at approximately $25,000. Life Planning Partners Inc acquired a new stake in shares of Apple during the fourth quarter valued at about $47,000. SPX Gestao de Recursos Ltda acquired a new stake in Apple during the 3rd quarter worth approximately $71,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Apple during the third quarter worth $77,000. Finally, Compass Planning Associates Inc bought a new stake in shares of Apple in the 4th quarter valued at about $96,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 38,822 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were 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. The trade was a 17.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the transaction, the chief executive officer now directly owns 3,280,295 shares of the company's stock, valued at $733,637,976.75. This represents a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 187,021 shares of company stock valued at $41,760,140. Insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AAPL shares. DA Davidson upped their target price on Apple from $230.00 to $250.00 and gave the company a "buy" rating in a report on Friday. Argus raised shares of Apple to a "strong-buy" rating in a research note on Friday, January 31st. The Goldman Sachs Group lowered their target price on shares of Apple from $259.00 to $256.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Tigress Financial upped their price target on shares of Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a research report on Thursday, April 3rd. Finally, Redburn Partners set a $230.00 price objective on Apple in a research report on Friday, January 31st. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $233.25.

Apple Stock Down 3.7 %

Shares of NASDAQ AAPL traded down $7.97 during trading on Friday, hitting $205.35. The stock had a trading volume of 100,891,435 shares, compared to its average volume of 56,620,753. The firm has a fifty day moving average of $212.15 and a two-hundred day moving average of $228.63. The company has a market capitalization of $3.08 trillion, a PE ratio of 32.60, a PEG ratio of 2.44 and a beta of 1.26. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. 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 data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 160.83%. The business had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. During the same period in the prior year, the firm posted $1.53 EPS. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its stock is undervalued.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 12th will be issued a dividend of $0.26 per share. This is a positive change from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Monday, May 12th. Apple's dividend payout ratio (DPR) is 15.87%.

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.