Apple Inc. (NASDAQ:AAPL) Position Cut by NS Partners Ltd

NS Partners Ltd lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 578,790 shares of the iPhone maker’s stock after selling 4,886 shares during the period. Apple accounts for approximately 6.0% of NS Partners Ltd’s portfolio, making the stock its 3rd largest position. NS Partners Ltd’s holdings in Apple were worth $144,941,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Drystone LLC purchased a new stake in shares of Apple in the fourth quarter valued at about $25,000. Life Planning Partners Inc acquired a new stake in shares of Apple in the fourth quarter valued at approximately $47,000. SPX Gestao de Recursos Ltda acquired a new stake in shares of Apple in the third quarter valued at approximately $71,000. Teachers Insurance & Annuity Association of America acquired a new stake in Apple during the third quarter worth approximately $77,000. Finally, Compass Planning Associates Inc acquired a new stake in Apple during the fourth quarter worth approximately $96,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Down 0.1%

AAPL stock opened at $211.26 on Friday. The company’s 50 day simple moving average is $206.09 and its 200-day simple moving average is $226.66. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The firm has a market capitalization of $3.16 trillion, a P/E ratio of 33.53, a P/E/G ratio of 2.44 and a beta of 1.27. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.53 earnings per share. As a group, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a dividend of $0.26 per share. This is an increase from Apple’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. Apple’s dividend payout ratio is currently 16.20%.

Apple announced that its board has authorized a stock repurchase plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AAPL shares. Morgan Stanley reaffirmed an “overweight” rating on shares of Apple in a research note on Monday, May 12th. Oppenheimer lowered shares of Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Loop Capital decreased their price target on shares of Apple from $230.00 to $215.00 and set a “hold” rating for the company in a report on Wednesday, April 30th. Rosenblatt Securities lowered shares of Apple from a “buy” rating to a “neutral” rating and set a $217.00 price target for the company. in a report on Friday, May 2nd. Finally, Citigroup reiterated a “cautious” rating on shares of Apple in a research report on Monday, May 5th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $235.80.

Insider Activity at Apple

In other news, COO Jeffrey E. Williams sold 35,493 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the transaction, the chief operating officer now directly owns 390,059 shares of the company’s stock, valued at approximately $87,377,116.59. This trade represents a 8.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,486 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider now directly owns 15,533 shares of the company’s stock, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is owned by insiders.

Apple Company Profile

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.