Apple Inc. (NASDAQ:AAPL) Shares Sold by AMI Investment Management Inc.

AMI Investment Management Inc. trimmed its position in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 3.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,610 shares of the iPhone maker’s stock after selling 446 shares during the quarter. AMI Investment Management Inc.’s holdings in Apple were worth $1,991,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AAPL. Wyrmwood Management LLC grew its position in Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after buying an additional 69 shares during the period. A.P. Gilfoyle & Co. L.P. acquired a new position in Apple during the fourth quarter worth about $39,000. Gilfoyle & Co LLC grew its position in Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after buying an additional 118 shares during the period. University of Texas Texas AM Investment Managment Co. grew its position in 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 during the period. Finally, Clarity Asset Management Inc. acquired a new position in Apple during the fourth quarter worth about $85,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. DA Davidson upgraded shares of Apple from a “neutral” rating to a “buy” rating and upped their target price for the stock from $200.00 to $230.00 in a research report on Tuesday, June 11th. Sanford C. Bernstein raised 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. Piper Sandler raised their price objective on shares of Apple from $190.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday. UBS Group reissued a “neutral” rating and set a $190.00 price objective on shares of Apple in a research note on Monday, July 1st. Finally, Oppenheimer raised their price objective on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $218.43.

Check Out Our Latest Research Report on AAPL

Insider Buying and Selling

In related 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 sale, the insider now owns 29,278 shares of the company’s stock, valued at approximately $5,574,531.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction dated 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 sale, the director now owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 4,999 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total transaction of $951,809.60. Following the completion of the sale, the insider now directly owns 29,278 shares of the company’s stock, valued at approximately $5,574,531.20. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

NASDAQ:AAPL opened at $232.98 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $3.57 trillion, a price-to-earnings ratio of 36.23, a PEG ratio of 2.77 and a beta of 1.24. The firm’s fifty day simple moving average is $200.96 and its 200 day simple moving average is $186.98. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $233.08.

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, beating the consensus estimate of $1.51 by $0.02. The business had revenue of $90.75 billion for 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%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.52 EPS. As a group, equities research analysts expect that Apple Inc. will post 6.59 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently announced 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 positive change from Apple’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, May 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s payout ratio is presently 15.55%.

Apple announced that its board has authorized a stock buyback program on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in shares. This repurchase authorization authorizes the iPhone maker to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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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