Nichols & Pratt Advisers LLP MA Sells 19,015 Shares of Apple Inc. (NASDAQ:AAPL)

Nichols & Pratt Advisers LLP MA reduced its holdings in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 592,705 shares of the iPhone maker’s stock after selling 19,015 shares during the quarter. Apple accounts for 8.1% of Nichols & Pratt Advisers LLP MA’s portfolio, making the stock its largest position. Nichols & Pratt Advisers LLP MA’s holdings in Apple were worth $114,113,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Morgan Stanley raised its position in Apple by 1.0% in the third quarter. Morgan Stanley now owns 206,732,960 shares of the iPhone maker’s stock valued at $35,394,751,000 after purchasing an additional 2,018,010 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Apple by 14,395.4% during the 4th quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock valued at $136,119,470,000 after buying an additional 70,212,651 shares during the period. Barclays PLC lifted its position in Apple by 6.0% during the 3rd quarter. Barclays PLC now owns 49,759,061 shares of the iPhone maker’s stock worth $8,519,244,000 after acquiring an additional 2,826,709 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Apple by 4.6% in the 3rd quarter. California Public Employees Retirement System now owns 38,579,495 shares of the iPhone maker’s stock worth $6,605,195,000 after acquiring an additional 1,696,576 shares during the period. Finally, National Pension Service raised its stake in shares of Apple by 1.9% during the fourth quarter. National Pension Service now owns 24,534,731 shares of the iPhone maker’s stock valued at $4,723,672,000 after purchasing an additional 461,321 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several analyst reports. Itau BBA Securities upgraded shares of Apple from an “underperform” rating to a “market perform” rating and upped their target price for the company from $162.00 to $188.00 in a research note on Friday, May 3rd. Wedbush raised their target price on Apple from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Friday, May 24th. Barclays lifted their target price on Apple from $158.00 to $164.00 and gave the stock an “underweight” rating in a research report on Friday, May 3rd. Needham & Company LLC reissued a “buy” rating and issued a $220.00 price target on shares of Apple in a report on Friday, May 3rd. Finally, Canaccord Genuity Group lifted their price objective on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Saturday, May 4th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have issued 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 a consensus target price of $205.59.

View Our Latest Stock Report on Apple

Apple Stock Performance

AAPL opened at $194.35 on Wednesday. The business has a 50 day moving average price of $178.48 and a two-hundred day moving average price of $183.28. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. The company has a market capitalization of $2.98 trillion, a price-to-earnings ratio of 30.23, a price-to-earnings-growth ratio of 2.34 and a beta of 1.25. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $199.62.

Apple (NASDAQ:AAPLGet Free Report) last issued its quarterly 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. The company had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. Apple’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.52 EPS. Research analysts predict that Apple Inc. will post 6.57 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.51%. This is a boost from Apple’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, May 10th. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Apple declared that its Board of Directors has approved a share buyback plan on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Apple

In related news, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the transaction, the director now owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the sale, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Chris Kondo sold 4,999 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total value of $951,809.60. Following the transaction, the insider now directly owns 29,278 shares in the company, valued at $5,574,531.20. The disclosure for this sale can be found here. Insiders have sold a total of 346,270 shares of company stock valued at $60,880,196 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

About Apple

(Free Report)

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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