Schnieders Capital Management LLC Trims Holdings in Apple Inc. (NASDAQ:AAPL)

Schnieders Capital Management LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 155,691 shares of the iPhone maker's stock after selling 9,775 shares during the period. Apple makes up about 7.7% of Schnieders Capital Management LLC's portfolio, making the stock its 2nd biggest position. Schnieders Capital Management LLC's holdings in Apple were worth $38,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of AAPL. Drystone LLC bought a new position in shares of Apple during the fourth quarter valued at approximately $25,000. SPX Gestao de Recursos Ltda purchased a new position in Apple during the 3rd quarter valued at $71,000. Teachers Insurance & Annuity Association of America purchased a new position in Apple during the 3rd quarter valued at $77,000. Compass Planning Associates Inc bought a new position in Apple in the 4th quarter valued at $96,000. Finally, ARK Investment Management LLC purchased a new stake in Apple in the third quarter worth $110,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Performance

Shares of Apple stock opened at $198.92 on Wednesday. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The business has a 50-day simple moving average of $210.55 and a 200-day simple moving average of $228.13. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The company has a market cap of $2.99 trillion, a PE ratio of 31.57, a P/E/G ratio of 2.44 and a beta of 1.27.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. The firm's revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.53 earnings per share. On average, 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 approved 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 purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 12th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is currently 16.20%.

Insider Activity

In other Apple news, SVP Katherine L. Adams sold 38,822 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the transaction, the senior vice president now owns 179,158 shares in the company, valued at approximately $40,072,269.86. This represents a 17.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were 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 owns 4,569 shares of the company's stock, valued at approximately $941,214. The trade was a 50.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 187,021 shares of company stock valued at $41,760,140 in the last ninety days. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Bank of America lowered their target price on shares of Apple from $250.00 to $240.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. China Renaissance began coverage on shares of Apple in a research report on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 price objective for the company. Citigroup reiterated a "cautious" rating on shares of Apple in a report on Monday. Barclays lowered their price objective on Apple from $197.00 to $173.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. Finally, DA Davidson lifted their target price on shares of Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price 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.

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