Oldfather Financial Services LLC Sells 359 Shares of Apple Inc. (NASDAQ:AAPL)

Oldfather Financial Services LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,183 shares of the iPhone maker’s stock after selling 359 shares during the quarter. Apple comprises 1.3% of Oldfather Financial Services LLC’s holdings, making the stock its 17th biggest position. Oldfather Financial Services LLC’s holdings in Apple were worth $2,362,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in AAPL. Robinson Value Management Ltd. acquired a new stake in shares of Apple in the 3rd quarter valued at approximately $28,000. Hanseatic Management Services Inc. raised its position in shares of Apple by 75.4% in the 3rd quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock valued at $34,000 after acquiring an additional 107 shares during the period. Cheyne Capital Management UK LLP raised its position in shares of Apple by 200.0% in the 3rd quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock valued at $212,000 after acquiring an additional 550 shares during the period. Align Wealth Management LLC acquired a new stake in Apple during the 4th quarter worth $55,000. Finally, HBC Financial Services PLLC raised its stake in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares during the period. 57.60% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $172.07 on Tuesday. The firm has a market cap of $2.71 trillion, a PE ratio of 29.21, a price-to-earnings-growth ratio of 2.31 and a beta of 1.29. The firm’s fifty day moving average is $163.02 and its 200-day moving average is $149.99. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.88 and a current ratio of 0.94. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $176.15.

Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings data on Thursday, May 4th. The iPhone maker reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.08. The company had revenue of $94.84 billion for the quarter, compared to analyst estimates of $92.84 billion. Apple had a return on equity of 165.72% and a net margin of 24.49%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.52 earnings per share. Sell-side analysts predict that Apple Inc. will post 6 earnings per share for the current year.

Apple announced that its board has initiated a share buyback program on Thursday, May 4th that permits the company to repurchase $90.00 billion in shares. This repurchase authorization permits the iPhone maker to purchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 18th. Stockholders of record on Monday, May 15th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, May 12th. This represents a $0.96 annualized dividend and a dividend yield of 0.56%. This is a positive change from Apple’s previous quarterly dividend of $0.23. Apple’s dividend payout ratio is currently 16.30%.

Insider Activity

In other news, CEO Timothy D. Cook sold 56,072 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $165.17, for a total transaction of $9,261,412.24. Following the transaction, the chief executive officer now directly owns 3,280,052 shares of the company’s stock, valued at $541,766,188.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Timothy D. Cook sold 56,072 shares of the stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $165.17, for a total value of $9,261,412.24. Following the completion of the sale, the chief executive officer now directly owns 3,280,052 shares of the company’s stock, valued at $541,766,188.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Luca Maestri sold 200 shares of the stock in a transaction that occurred on Thursday, April 6th. The stock was sold at an average price of $164.92, for a total value of $32,984.00. Following the completion of the sale, the chief financial officer now directly owns 177,657 shares of the company’s stock, valued at $29,299,192.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 439,529 shares of company stock worth $71,703,657. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on Apple from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, May 5th. JPMorgan Chase & Co. raised their target price on shares of Apple from $175.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, April 19th. Monness Crespi & Hardt raised their target price on shares of Apple from $174.00 to $188.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Credit Suisse Group raised their target price on shares of Apple from $184.00 to $188.00 and gave the stock an “outperform” rating in a report on Thursday, April 13th. Finally, UBS Group set a $180.00 price target on Apple in a research note on Monday, April 3rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $174.29.

About Apple

(Get Rating)

Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.