Linscomb & Williams Inc. Cuts Position in Apple Inc. (NASDAQ:AAPL)

Linscomb & Williams Inc. trimmed its position in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 163,526 shares of the iPhone maker’s stock after selling 4,600 shares during the period. Apple makes up about 1.7% of Linscomb & Williams Inc.’s holdings, making the stock its 11th largest holding. Linscomb & Williams Inc.’s holdings in Apple were worth $31,484,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of AAPL. Wyrmwood Management LLC grew its stake in shares of Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after acquiring an additional 69 shares in the last quarter. Gilfoyle & Co LLC grew its stake in Apple by 118.0% during the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares in the last quarter. PayPay Securities Corp raised its position in Apple by 70.2% in the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock valued at $87,000 after purchasing an additional 210 shares in the last quarter. Friedenthal Financial acquired a new stake in Apple in the 4th quarter valued at about $111,000. Finally, Cordant Inc. grew its position 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 buying an additional 140 shares in the last quarter. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the company’s 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 owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Deirdre O’brien sold 54,732 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $23,068,376.52. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 99,183 shares of the firm’s 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 transaction, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 346,270 shares of company stock valued at $60,880,196. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

AAPL has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Maxim Group assumed coverage on Apple in a report on Wednesday, April 17th. They issued a “hold” rating and a $178.00 target price on the stock. Bank of America reaffirmed a “buy” rating and set a $230.00 price target on shares of Apple in a report on Wednesday, May 29th. Barclays increased their price objective on Apple from $158.00 to $164.00 and gave the company an “underweight” rating in a report on Friday, May 3rd. Finally, Loop Capital decreased their target price on Apple from $185.00 to $170.00 and set a “hold” rating for the company in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.59.

View Our Latest Stock Report on AAPL

Apple Price Performance

Shares of NASDAQ AAPL opened at $196.89 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. Apple Inc. has a one year low of $164.07 and a one year high of $199.62. The firm has a market capitalization of $3.02 trillion, a P/E ratio of 30.62, a PEG ratio of 2.39 and a beta of 1.25. The company’s fifty day moving average is $179.90 and its two-hundred day moving average is $183.48.

Apple (NASDAQ:AAPLGet Free Report) last released its quarterly earnings data 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 net margin of 26.31% and a return on equity of 148.33%. The firm had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. During the same quarter in the previous year, the firm earned $1.52 earnings per share. The firm’s revenue was down 4.3% on a year-over-year basis. Analysts forecast that Apple Inc. will post 6.57 EPS for the current fiscal year.

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

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 paid a $0.25 dividend. This is an increase from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 0.51%. The ex-dividend date was Friday, May 10th. Apple’s dividend payout ratio (DPR) is presently 15.55%.

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.

See Also

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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