PFS Partners LLC Sells 158 Shares of Apple Inc. (NASDAQ:AAPL)

PFS Partners LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 1.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,892 shares of the iPhone maker’s stock after selling 158 shares during the quarter. Apple makes up approximately 1.0% of PFS Partners LLC’s holdings, making the stock its 17th biggest holding. PFS Partners LLC’s holdings in Apple were worth $1,525,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Apple by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after purchasing an additional 18,067,216 shares during the period. Morgan Stanley lifted its position in Apple by 1.0% during the 3rd 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. Norges Bank acquired a new position in Apple during the 4th quarter valued at about $33,912,466,000. International Assets Investment Management LLC lifted its position in 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 purchasing an additional 70,212,651 shares during the period. Finally, Wellington Management Group LLP lifted its position in Apple by 3.6% during the 4th quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock valued at $11,677,190,000 after purchasing an additional 2,096,360 shares during the period. Institutional investors own 60.41% of the company’s stock.

Insider Transactions at Apple

In other news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 59,162 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $172.22, for a total value of $10,188,879.64. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at approximately $84,378,155.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 192,355 shares of company stock valued at $34,771,329. 0.06% of the stock is currently owned by corporate insiders.

Apple Trading Up 0.6 %

Shares of Apple stock opened at $221.55 on Friday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $221.55. 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 $3.40 trillion, a price-to-earnings ratio of 34.46, a P/E/G ratio of 2.68 and a beta of 1.24. The business has a fifty day simple moving average of $195.26 and a two-hundred day simple moving average of $185.85.

Apple (NASDAQ:AAPLGet Free Report) last posted its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share 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 company had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. During the same quarter last year, the firm earned $1.52 earnings per share. The company’s revenue was down 4.3% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 6.59 EPS for the current year.

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

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. This is an increase from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Analysts Set New Price Targets

AAPL has been the topic of a number of research reports. Erste Group Bank upgraded shares of Apple from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. JPMorgan Chase & Co. increased their price target on shares of Apple from $225.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, June 18th. DZ Bank reiterated a “hold” rating and issued a $180.00 price target on shares of Apple in a research report on Thursday, March 28th. Loop Capital cut their price target on shares of Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. Finally, Evercore ISI reiterated a “buy” rating and issued a $250.00 price target on shares of Apple in a research report on Thursday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $215.71.

View Our Latest Stock Analysis on Apple

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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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