Norris Perne & French LLP MI Sells 2,601 Shares of Apple Inc. (NASDAQ:AAPL)

Norris Perne & French LLP MI trimmed its holdings in Apple Inc. (NASDAQ:AAPLFree Report) by 2.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,193 shares of the iPhone maker’s stock after selling 2,601 shares during the quarter. Norris Perne & French LLP MI’s holdings in Apple were worth $15,466,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Astoria Portfolio Advisors LLC. raised its position in Apple by 7.7% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 29,302 shares of the iPhone maker’s stock worth $5,060,000 after purchasing an additional 2,088 shares during the last quarter. New England Research & Management Inc. increased its stake in shares of Apple by 6.3% in the 1st quarter. New England Research & Management Inc. now owns 32,702 shares of the iPhone maker’s stock valued at $5,608,000 after buying an additional 1,941 shares during the period. Norway Savings Bank raised its position in shares of Apple by 1.8% during the first quarter. Norway Savings Bank now owns 47,130 shares of the iPhone maker’s stock worth $8,082,000 after acquiring an additional 815 shares during the last quarter. Kathmere Capital Management LLC lifted its stake in shares of Apple by 4.6% during the first quarter. Kathmere Capital Management LLC now owns 57,224 shares of the iPhone maker’s stock valued at $9,813,000 after acquiring an additional 2,522 shares during the period. Finally, Asio Capital LLC boosted its holdings in Apple by 1.5% in the first quarter. Asio Capital LLC now owns 55,618 shares of the iPhone maker’s stock valued at $9,537,000 after acquiring an additional 830 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Price Performance

Shares of 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 two-hundred day moving average price is $186.18. The company has a market cap of $3.47 trillion, a PE ratio of 35.20, a price-to-earnings-growth ratio of 2.75 and a beta of 1.24. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $226.45.

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, beating the consensus estimate of $1.51 by $0.02. The firm had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.52 earnings per share. On average, analysts predict that Apple Inc. will post 6.59 EPS for the current year.

Apple declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 2nd that permits the company to buyback $110.00 billion in shares. This buyback authorization permits the iPhone maker to repurchase up to 3.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were issued a dividend of $0.25 per share. This is a boost from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Friday, May 10th. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Insider Activity at Apple

In other news, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the completion of the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $18,768,046.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at $18,768,046.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 59,162 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $172.22, for a total value of $10,188,879.64. Following the transaction, the chief operating officer now owns 489,944 shares in the company, valued at approximately $84,378,155.68. The disclosure for this sale can be found here. Insiders sold 192,355 shares of company stock worth $34,771,329 in the last ninety days. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AAPL has been the subject of several recent research reports. Sanford C. Bernstein boosted their price objective on Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Barclays reaffirmed an “underweight” rating and issued a $164.00 price objective on shares of Apple in a research note on Tuesday, June 11th. Oppenheimer upped their target price on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, June 28th. Rosenblatt Securities upgraded Apple from a “neutral” rating to a “buy” rating and raised their price target for the stock from $196.00 to $260.00 in a research report on Wednesday, June 26th. Finally, Citigroup dropped their price objective on Apple from $220.00 to $210.00 and set a “buy” rating for the company in a report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.71.

Check Out Our Latest Stock Report 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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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