Apple Inc. (NASDAQ:AAPL) Stock Holdings Lowered by First Dallas Securities Inc.

First Dallas Securities Inc. decreased its position in Apple Inc. (NASDAQ:AAPLFree Report) by 6.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,075 shares of the iPhone maker’s stock after selling 6,201 shares during the quarter. Apple accounts for about 7.5% of First Dallas Securities Inc.’s investment portfolio, making the stock its 2nd largest holding. First Dallas Securities Inc.’s holdings in Apple were worth $16,304,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wyrmwood Management LLC lifted 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. A.P. Gilfoyle & Co. L.P. acquired a new position in shares of Apple in the 4th quarter valued at approximately $39,000. Gilfoyle & Co LLC boosted its stake in shares of Apple by 118.0% during the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after buying an additional 118 shares during the last quarter. University of Texas Texas AM Investment Managment Co. grew its position in shares of Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after buying an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. bought a new stake in shares of Apple in the fourth quarter worth $85,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Bank of America reissued a “buy” rating and set a $230.00 price objective on shares of Apple in a report on Wednesday, June 26th. Erste Group Bank raised Apple from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Melius Research increased their target price on Apple from $227.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Citigroup lowered their price target on Apple from $220.00 to $210.00 and set a “buy” rating for the company in a report on Monday, April 29th. Finally, Maxim Group raised their price objective on Apple from $178.00 to $195.00 and gave the stock a “hold” rating in a research note on Tuesday, June 25th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus target price of $215.71.

Get Our Latest Stock Analysis on Apple

Insider Transactions at Apple

In other news, Director Arthur D. Levinson sold 75,000 shares of the business’s 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 sale, the director now directly owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total value of $951,809.60. Following 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 SEC, which is accessible through this hyperlink. Also, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the sale, the director now owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. Insiders sold a total of 192,355 shares of company stock valued at $34,771,329 in the last three months. 0.06% of the stock is currently owned by corporate insiders.

Apple Price Performance

NASDAQ:AAPL opened at $226.34 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The business’s 50-day moving average price is $197.44 and its 200 day moving average price is $186.18. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $226.45. The firm has a market cap of $3.47 trillion, a P/E ratio of 35.20, a PEG ratio of 2.75 and a beta of 1.24.

Apple (NASDAQ:AAPLGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $90.37 billion. During the same quarter in the previous year, the company posted $1.52 EPS. The business’s revenue was down 4.3% compared to the same quarter last year. As a group, sell-side analysts predict that Apple Inc. will post 6.59 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Friday, May 10th. This is an increase from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio is 15.55%.

Apple announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 2nd that permits the company to buyback $110.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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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