Murphy Capital Management Inc. Has $72.97 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Murphy Capital Management Inc. decreased its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 4.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 417,928 shares of the iPhone maker’s stock after selling 19,234 shares during the period. Apple comprises approximately 8.5% of Murphy Capital Management Inc.’s holdings, making the stock its largest position. Murphy Capital Management Inc.’s holdings in Apple were worth $72,974,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AAPL. Fountainhead AM LLC boosted its holdings in Apple by 11.6% in the 4th quarter. Fountainhead AM LLC now owns 45,544 shares of the iPhone maker’s stock worth $7,732,000 after buying an additional 4,738 shares during the period. Primoris Wealth Advisors LLC bought a new position in Apple in the 4th quarter worth $4,282,000. Stegent Equity Advisors Inc. bought a new position in Apple in the 4th quarter worth $2,588,000. Keebeck Alpha LP boosted its holdings in Apple by 35.6% in the 4th quarter. Keebeck Alpha LP now owns 13,455 shares of the iPhone maker’s stock worth $2,389,000 after buying an additional 3,534 shares during the period. Finally, West Bancorporation Inc. bought a new position in Apple in the 4th quarter worth $1,688,000. 57.98% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently weighed in on the stock. Rosenblatt Securities dropped their target price on shares of Apple from $184.00 to $168.00 and set a “neutral” rating for the company in a report on Monday, May 2nd. Sanford C. Bernstein set a $170.00 price target on shares of Apple in a research note on Monday, May 2nd. Fundamental Research decreased their price target on shares of Apple from $179.32 to $175.24 and set an “average” rating on the stock in a research note on Friday, May 6th. StockNews.com started coverage on shares of Apple in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Evercore ISI started coverage on shares of Apple in a research note on Friday, March 25th. They issued a “buy” rating and a $210.00 price target on the stock. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $186.55.

In related news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the completion of the sale, the senior vice president now owns 452,334 shares of the company’s stock, valued at $73,151,454.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Deirdre O’brien sold 29,198 shares of the stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $177.77, for a total transaction of $5,190,528.46. Following the sale, the senior vice president now directly owns 136,290 shares of the company’s stock, valued at approximately $24,228,273.30. The disclosure for this sale can be found here. Insiders have sold 168,099 shares of company stock valued at $29,376,711 in the last three months. 0.06% of the stock is currently owned by corporate insiders.

NASDAQ AAPL opened at $135.35 on Thursday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.88 and a current ratio of 0.93. The firm’s 50 day moving average price is $149.10 and its 200-day moving average price is $162.75. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The company has a market cap of $2.19 trillion, a PE ratio of 21.97, a P/E/G ratio of 1.72 and a beta of 1.20.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings data 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. Apple had a net margin of 26.41% and a return on equity of 152.88%. The firm had revenue of $97.28 billion for the quarter, compared to the consensus estimate of $93.99 billion. During the same period last year, the firm earned $1.40 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. On average, analysts forecast that Apple Inc. will post 6.11 earnings per share for the current fiscal year.

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

Apple declared that its board has initiated a share buyback program on Thursday, April 28th that authorizes the company to repurchase $90.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Apple 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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