Cravens & Co Advisors LLC Reduces Holdings in Apple Inc. (NASDAQ:AAPL)

Cravens & Co Advisors LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 6.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,660 shares of the iPhone maker’s stock after selling 261 shares during the quarter. Cravens & Co Advisors LLC’s holdings in Apple were worth $705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Headinvest LLC boosted its holdings in Apple by 1.7% during the 3rd quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock valued at $9,236,000 after acquiring an additional 872 shares during the period. Sound Income Strategies LLC lifted its holdings in Apple by 16.1% in the 4th quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock worth $14,461,000 after buying an additional 10,425 shares during the period. DNB Asset Management AS lifted its holdings in Apple by 6.9% in the 4th quarter. DNB Asset Management AS now owns 4,307,068 shares of the iPhone maker’s stock worth $829,240,000 after buying an additional 279,311 shares during the period. Boltwood Capital Management lifted its holdings in Apple by 2.8% in the 4th quarter. Boltwood Capital Management now owns 37,178 shares of the iPhone maker’s stock worth $7,158,000 after buying an additional 1,021 shares during the period. Finally, NewEdge Wealth LLC lifted its holdings in Apple by 16.2% in the 4th quarter. NewEdge Wealth LLC now owns 808,709 shares of the iPhone maker’s stock worth $155,701,000 after buying an additional 112,980 shares during the period. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AAPL has been the subject of several research analyst reports. Canaccord Genuity Group increased 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. Maxim Group initiated coverage on Apple in a report on Wednesday, April 17th. They issued a “hold” rating and a $178.00 price objective for the company. Monness Crespi & Hardt reiterated a “buy” rating and issued a $205.00 price objective on shares of Apple in a report on Thursday. Sanford C. Bernstein upgraded Apple from a “market perform” rating to an “outperform” rating and set a $195.00 price objective for the company in a report on Monday, April 29th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $220.00 price objective on shares of Apple in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have issued a buy rating and one has assigned a strong 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 $205.59.

Read Our Latest Report on AAPL

Apple Stock Down 0.7 %

Apple stock opened at $194.48 on Friday. The firm has a market cap of $2.98 trillion, a price-to-earnings ratio of 30.25, a PEG ratio of 2.37 and a beta of 1.25. The stock has a fifty day simple moving average of $179.40 and a two-hundred day simple moving average of $183.45. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $199.62. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24.

Apple (NASDAQ:AAPLGet Free Report) last posted its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The business had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. During the same quarter last year, the company earned $1.52 EPS. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. Equities analysts predict that Apple Inc. will post 6.57 EPS for the current fiscal year.

Apple Increases Dividend

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

Apple declared that its board has authorized a stock 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 stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the completion of the sale, the insider now owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the completion of the sale, the insider now owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Deirdre O’brien sold 54,732 shares of Apple 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 completion of the sale, the senior vice president now directly 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 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Apple 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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