Apple Inc. (NASDAQ:AAPL) Stake Reduced by Dixon Fnancial Services Inc.

Dixon Fnancial Services Inc. trimmed its position in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 1.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 16,761 shares of the iPhone maker’s stock after selling 200 shares during the quarter. Apple comprises about 1.6% of Dixon Fnancial Services Inc.’s holdings, making the stock its 7th biggest holding. Dixon Fnancial Services Inc.’s holdings in Apple were worth $2,874,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AAPL. Norges Bank purchased a new stake in Apple during the 4th quarter valued at about $33,912,466,000. International Assets Investment Management LLC boosted 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 acquiring an additional 70,212,651 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of 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 acquiring an additional 18,067,216 shares during the last quarter. Global Assets Advisory LLC boosted its holdings in shares of Apple by 23,076.4% during the 1st quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock valued at $1,584,512,000 after acquiring an additional 9,200,345 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of Apple by 130.1% during the 4th quarter. Cerity Partners LLC now owns 9,430,190 shares of the iPhone maker’s stock valued at $1,815,594,000 after acquiring an additional 5,331,439 shares during the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total transaction of $951,809.60. Following the completion of the transaction, the insider now directly owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Jeffrey E. Williams sold 59,162 shares of Apple stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at $84,378,155.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 sale, the insider now owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The disclosure for this sale can be found here. Insiders sold 192,355 shares of company stock valued at $34,771,329 over the last three months. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Erste Group Bank raised shares of Apple from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Sanford C. Bernstein increased their price objective on shares of Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. Rosenblatt Securities upgraded shares of Apple from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $196.00 to $260.00 in a research note on Wednesday, June 26th. DA Davidson upgraded shares of Apple from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $200.00 to $230.00 in a research note on Tuesday, June 11th. Finally, Melius Research increased their price objective on shares of Apple from $227.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average target price of $215.71.

Get Our Latest Report on AAPL

Apple Trading Up 2.2 %

AAPL stock opened at $226.34 on Friday. The firm has a fifty day moving average price of $197.44 and a 200 day moving average price of $186.24. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $226.45. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. The firm has a market cap of $3.47 trillion, a PE ratio of 35.20, a price-to-earnings-growth ratio of 2.69 and a beta of 1.24.

Apple (NASDAQ:AAPLGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, topping the consensus estimate of $1.51 by $0.02. The company had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. Apple’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.52 earnings per share. Sell-side analysts anticipate that Apple Inc. will post 6.59 earnings per share for the current fiscal year.

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

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.44%. This is a positive change from Apple’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, May 10th. Apple’s payout ratio 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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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