Mayport LLC Sells 242 Shares of Apple Inc. (NASDAQ:AAPL)

Mayport LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 1.2% in the 4th quarter, HoldingsChannel reports. The firm owned 20,127 shares of the iPhone maker’s stock after selling 242 shares during the quarter. Apple accounts for approximately 1.8% of Mayport LLC’s portfolio, making the stock its 13th largest position. Mayport LLC’s holdings in Apple were worth $3,875,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Riverwater Partners LLC boosted its position in Apple by 11.5% in the 3rd quarter. Riverwater Partners LLC now owns 5,142 shares of the iPhone maker’s stock valued at $880,000 after buying an additional 529 shares during the last quarter. Holland Advisory Services Inc. boosted its holdings in Apple by 18.0% in the third quarter. Holland Advisory Services Inc. now owns 7,277 shares of the iPhone maker’s stock valued at $1,246,000 after acquiring an additional 1,108 shares during the last quarter. Strategic Blueprint LLC increased its position in Apple by 4.3% in the third quarter. Strategic Blueprint LLC now owns 152,344 shares of the iPhone maker’s stock worth $26,083,000 after purchasing an additional 6,340 shares during the period. Hanlon Investment Management Inc. raised its holdings in Apple by 33.0% during the 3rd quarter. Hanlon Investment Management Inc. now owns 12,458 shares of the iPhone maker’s stock worth $2,133,000 after purchasing an additional 3,090 shares during the last quarter. Finally, Marion Wealth Management lifted its position in Apple by 3.6% during the 3rd quarter. Marion Wealth Management now owns 35,311 shares of the iPhone maker’s stock valued at $6,046,000 after purchasing an additional 1,242 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of several analyst reports. Piper Sandler lowered their price target on shares of Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. Bank of America raised their price target on Apple from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Wedbush reiterated an “outperform” rating and issued a $250.00 price objective on shares of Apple in a report on Friday, May 3rd. Citigroup reduced their target price on Apple from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Monday, April 29th. Finally, UBS Group reaffirmed a “hold” rating and issued a $190.00 price target on shares of Apple in a research note on Monday, March 25th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $204.11.

Apple Price Performance

Shares of AAPL opened at $182.74 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The company’s fifty day simple moving average is $172.17 and its 200 day simple moving average is $181.78. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $199.62. The company has a market cap of $2.82 trillion, a price-to-earnings ratio of 28.42, a PEG ratio of 2.21 and a beta of 1.26.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $90.37 billion. During the same period in the previous year, the business earned $1.52 EPS. Apple’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, research analysts forecast that Apple Inc. will post 6.54 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 13th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.55%. This is a boost from Apple’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, May 10th. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Apple announced that its board has authorized a stock buyback program on Thursday, May 2nd that permits the company to buyback $110.00 billion in shares. This buyback authorization permits the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Apple

In related news, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the sale, the senior vice president now owns 136,572 shares in the company, valued at approximately $23,068,376.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the transaction, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the sale, the director now owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The disclosure for this sale can be found here. In the last three months, insiders sold 366,271 shares of company stock worth $63,653,887. 0.06% of the stock is owned by company insiders.

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.