Martin Capital Partners LLC Trims Stock Position in Apple Inc. (NASDAQ:AAPL)

Martin Capital Partners LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 87.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,626 shares of the iPhone maker’s stock after selling 17,922 shares during the period. Martin Capital Partners LLC’s holdings in Apple were worth $459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. State Street Corp raised its holdings in shares of Apple by 1.8% during the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after purchasing an additional 10,951,705 shares during the last quarter. Geode Capital Management LLC grew its position in Apple by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock valued at $46,812,958,000 after buying an additional 4,456,954 shares during the period. Norges Bank acquired a new stake in Apple during the fourth quarter valued at $25,228,507,000. Charles Schwab Investment Management Inc. grew its position in Apple by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 79,583,859 shares of the iPhone maker’s stock valued at $14,131,710,000 after buying an additional 1,273,148 shares during the period. Finally, UBS Asset Management Americas Inc. grew its position in Apple by 1.1% during the third quarter. UBS Asset Management Americas Inc. now owns 69,224,701 shares of the iPhone maker’s stock valued at $9,795,295,000 after buying an additional 759,577 shares during the period. 57.98% of the stock is owned by hedge funds and other institutional investors.

Apple stock opened at $135.35 on Thursday. The company’s 50 day simple moving average is $149.10 and its 200-day simple moving average is $162.75. The company has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 1.72 and a beta of 1.20. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.88 and a current ratio of 0.93.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.09. The business had revenue of $97.28 billion for the quarter, compared to the consensus estimate of $93.99 billion. Apple had a net margin of 26.41% and a return on equity of 152.88%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.40 EPS. Equities analysts expect that Apple Inc. will post 6.11 earnings per share for the current year.

Apple declared that its board has approved a stock repurchase program on Thursday, April 28th that permits the company to buyback $90.00 billion in shares. This buyback authorization permits the iPhone maker to reacquire up to 3.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Stockholders of record on Monday, May 9th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.68%. This is an increase from Apple’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, May 6th. Apple’s payout ratio is 14.94%.

In other Apple news, SVP Deirdre O’brien sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $164.91, for a total transaction of $1,319,280.00. Following the completion of the transaction, the senior vice president now owns 136,290 shares in the company, valued at approximately $22,475,583.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 105,901 shares of the business’s stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $177.75, for a total transaction of $18,823,902.75. Following the transaction, the chief operating officer now owns 489,662 shares of the company’s stock, valued at approximately $87,037,420.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 168,099 shares of company stock worth $29,376,711. 0.06% of the stock is owned by insiders.

Several analysts recently commented on the stock. Fundamental Research dropped their price target on shares of Apple from $179.32 to $175.24 and set an “average” rating on the stock in a research report on Friday, May 6th. Loop Capital dropped their price target on shares of Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, May 25th. Bank of America dropped their price target on shares of Apple from $215.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, May 19th. Evercore ISI began coverage on shares of Apple in a research report on Friday, March 25th. They issued a “buy” rating and a $210.00 target price on the stock. Finally, Deutsche Bank Rese… set a $210.00 target price on shares of Apple in a research report on Friday, April 8th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price of $186.55.

Apple Company Profile (Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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