Apple Inc. (NASDAQ:AAPL) Position Cut by Baker Ellis Asset Management LLC

Baker Ellis Asset Management LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 4.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 43,721 shares of the iPhone maker’s stock after selling 2,044 shares during the period. Apple accounts for 1.1% of Baker Ellis Asset Management LLC’s portfolio, making the stock its 24th biggest holding. Baker Ellis Asset Management LLC’s holdings in Apple were worth $7,497,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AAPL. Yeomans Consulting Group Inc. acquired a new position in shares of Apple in the fourth quarter worth $1,713,000. Raleigh Capital Management Inc. grew its stake in Apple by 11.8% in the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after purchasing an additional 1,643 shares in the last quarter. Headinvest LLC increased its position in Apple by 1.7% in the 3rd quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock worth $9,236,000 after purchasing an additional 872 shares during the last quarter. GLOBALT Investments LLC GA purchased a new stake in shares of Apple during the 4th quarter worth about $38,406,000. Finally, Barden Capital Management Inc. lifted its holdings in shares of Apple by 132.8% during the 4th quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock valued at $6,283,000 after buying an additional 18,615 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Buying and Selling at Apple

In other news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction that occurred on Thursday, May 30th. The shares were 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 in the company, valued at $835,207,570.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction on 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 sale, the director now directly owns 4,359,576 shares in the company, valued at $835,207,570.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 192,355 shares of company stock worth $34,771,329 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Up 0.7 %

NASDAQ AAPL opened at $227.82 on Tuesday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $227.85. The company has a market capitalization of $3.49 trillion, a price-to-earnings ratio of 35.43, a PEG ratio of 2.75 and a beta of 1.24. The stock’s 50 day moving average is $198.52 and its two-hundred day moving average is $186.41. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24.

Apple (NASDAQ:AAPLGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The firm had revenue of $90.75 billion for the quarter, compared to analysts’ expectations of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The business’s revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.52 earnings per share. Equities analysts forecast that Apple Inc. will post 6.59 earnings per share for the current fiscal year.

Apple declared that its board has authorized a stock repurchase program on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is 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 an increase 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 was Friday, May 10th. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on AAPL shares. Melius Research lifted their target price on shares of Apple from $227.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Citigroup decreased their price objective on shares of Apple from $220.00 to $210.00 and set a “buy” rating for the company in a report on Monday, April 29th. Maxim Group raised their target price on Apple from $178.00 to $195.00 and gave the company a “hold” rating in a report on Tuesday, June 25th. Oppenheimer upped their price target on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, June 28th. Finally, UBS Group reissued a “neutral” rating and issued a $190.00 price objective on shares of Apple in a research note on Monday, July 1st. One 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $215.71.

View Our Latest Stock Report on Apple

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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