Ironwood Investment Counsel LLC Sells 5,575 Shares of Apple Inc. (NASDAQ:AAPL)

Ironwood Investment Counsel LLC reduced its position in Apple Inc. (NASDAQ:AAPLFree Report) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,718 shares of the iPhone maker’s stock after selling 5,575 shares during the period. Apple comprises about 4.9% of Ironwood Investment Counsel LLC’s portfolio, making the stock its 2nd biggest holding. Ironwood Investment Counsel LLC’s holdings in Apple were worth $26,130,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AAPL. Wyrmwood Management LLC raised its stake in shares of Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after buying an additional 69 shares during the period. Gilfoyle & Co LLC increased its holdings in Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after acquiring an additional 118 shares in the last quarter. PayPay Securities Corp raised its position in 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 acquiring an additional 210 shares during the period. Cordant Inc. lifted its holdings in Apple by 27.7% during the third quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock valued at $110,000 after purchasing an additional 140 shares in the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of Apple in the fourth quarter valued at about $111,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AAPL. Canaccord Genuity Group raised their price target on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Loop Capital lowered their price target on Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Itau BBA Securities raised Apple from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $162.00 to $188.00 in a research note on Friday, May 3rd. Monness Crespi & Hardt lifted their target price on shares of Apple from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $216.00 target price on shares of Apple in a report on Tuesday. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.59.

View Our Latest Stock Report on AAPL

Insider Buying and Selling at Apple

In other news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the sale, the chief executive officer now directly owns 3,377,407 shares in the company, valued at $574,260,512.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the sale, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Deirdre O’brien sold 54,732 shares of Apple 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 completion of the transaction, the senior vice president now owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The disclosure for this sale can be found here. Insiders sold 346,270 shares of company stock valued at $60,880,196 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Apple Trading Up 0.8 %

Shares of NASDAQ AAPL opened at $195.87 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 stock has a market capitalization of $3.00 trillion, a PE ratio of 30.46, a PEG ratio of 2.36 and a beta of 1.25. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $199.62. The stock has a fifty day simple moving average of $178.94 and a 200-day simple moving average of $183.37.

Apple (NASDAQ:AAPLGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $90.37 billion. During the same period in the prior year, the firm earned $1.52 earnings per share. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, equities analysts forecast that Apple Inc. will post 6.57 earnings per share for the current year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, May 10th. This is a positive change from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 0.51%. Apple’s dividend payout ratio is 15.55%.

Apple announced that its Board of Directors has authorized a share buyback plan on Thursday, May 2nd that permits the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Apple Company Profile

(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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