Apple Inc. (NASDAQ:AAPL) is Hendley & Co. Inc.’s 4th Largest Position

Hendley & Co. Inc. lessened its position in Apple Inc. (NASDAQ:AAPL) by 10.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,880 shares of the iPhone maker’s stock after selling 10,657 shares during the quarter. Apple accounts for approximately 6.7% of Hendley & Co. Inc.’s portfolio, making the stock its 4th largest holding. Hendley & Co. Inc.’s holdings in Apple were worth $17,112,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AAPL. Wyrmwood Management LLC boosted its position in Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after buying an additional 69 shares during the period. Gilfoyle & Co LLC boosted its holdings in shares of Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares during the period. PayPay Securities Corp boosted its holdings in shares of Apple by 70.2% during the third quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after purchasing an additional 210 shares during the period. Cordant Inc. boosted its holdings in shares of Apple by 27.7% during the third quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock worth $110,000 after purchasing an additional 140 shares during the period. Finally, Life Planning Partners Inc purchased a new stake in shares of Apple during the fourth quarter worth about $132,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Trading Down 0.9 %

Shares of Apple stock opened at $181.71 on Tuesday. The company’s fifty day simple moving average is $172.18 and its 200-day simple moving average is $181.72. The stock has a market capitalization of $2.81 trillion, a PE ratio of 28.26, a P/E/G ratio of 2.21 and a beta of 1.26. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $199.62. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The company had revenue of $90.75 billion for the quarter, compared to analysts’ expectations of $90.37 billion. During the same quarter in the previous year, the company earned $1.52 EPS. Apple’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, equities analysts anticipate that Apple Inc. will post 6.54 earnings per share for the current year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 13th will be paid a dividend of $0.25 per share. This is a boost from Apple’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.55%. Apple’s payout ratio is 14.93%.

Apple announced that its Board of Directors has initiated a share repurchase plan on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AAPL. Oppenheimer reiterated an “outperform” rating and set a $200.00 target price on shares of Apple in a report on Friday, February 2nd. Canaccord Genuity Group increased their target price on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday. Wedbush restated an “outperform” rating and issued a $250.00 price objective on shares of Apple in a report on Friday. DZ Bank restated a “hold” rating and issued a $180.00 price objective on shares of Apple in a report on Thursday, March 28th. Finally, Maxim Group assumed coverage on shares of Apple in a research note on Wednesday, April 17th. They set a “hold” rating and a $178.00 target price for the company. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $204.11.

Insider Activity at Apple

In related news, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the transaction, the director now owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the transaction, the director now owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares in the company, valued at $574,260,512.21. The disclosure for this sale can be found here. In the last quarter, insiders have sold 366,271 shares of company stock worth $63,653,887. 0.06% of the stock is owned by corporate insiders.

About Apple

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.