Jackson Hole Capital Partners LLC Has $18.69 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Jackson Hole Capital Partners LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,629 shares of the iPhone maker’s stock after selling 3,484 shares during the quarter. Apple accounts for about 3.8% of Jackson Hole Capital Partners LLC’s investment portfolio, making the stock its 2nd largest holding. Jackson Hole Capital Partners LLC’s holdings in Apple were worth $18,689,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Amara Financial LLC. purchased a new position in shares of Apple in the third quarter worth approximately $288,000. Simmons Bank lifted its holdings in shares of Apple by 1.6% in the third quarter. Simmons Bank now owns 132,641 shares of the iPhone maker’s stock worth $30,905,000 after buying an additional 2,086 shares in the last quarter. Safe Harbor Fiduciary LLC bought a new stake in Apple in the third quarter worth $4,972,000. SYM FINANCIAL Corp increased its position in Apple by 6.3% in the third quarter. SYM FINANCIAL Corp now owns 28,626 shares of the iPhone maker’s stock worth $6,670,000 after purchasing an additional 1,695 shares during the last quarter. Finally, Cardano Risk Management B.V. increased its position in Apple by 2.9% in the third quarter. Cardano Risk Management B.V. now owns 3,723,104 shares of the iPhone maker’s stock worth $876,483,000 after purchasing an additional 103,856 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Trading Down 0.1%

Shares of AAPL stock opened at $211.26 on Monday. The stock’s fifty day moving average is $206.09 and its two-hundred day moving average is $226.67. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The firm has a market capitalization of $3.16 trillion, a P/E ratio of 33.53, a PEG ratio of 2.44 and a beta of 1.27. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.

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

Apple announced that its Board of Directors has authorized a stock buyback program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a $0.26 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. This is a boost from Apple’s previous quarterly dividend of $0.25. Apple’s dividend payout ratio is presently 16.20%.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 4,486 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider now directly owns 15,533 shares in the company, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the transaction, the chief financial officer now owns 4,569 shares in the company, valued at $941,214. This represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,507 shares of company stock worth $42,694,080 over the last three months. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Maxim Group boosted their price objective on shares of Apple to $215.00 and gave the company a “hold” rating in a research report on Friday, February 21st. Oppenheimer cut shares of Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. DA Davidson increased their price target on shares of Apple from $230.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Loop Capital decreased their price objective on shares of Apple from $230.00 to $215.00 and set a “hold” rating for the company in a research report on Wednesday, April 30th. Finally, China Renaissance initiated coverage on shares of Apple in a report on Tuesday, April 22nd. They issued a “buy” rating and a $241.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $235.80.

About Apple

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.