Apple Inc. (NASDAQ:AAPL) Shares Sold by Arvest Bank Trust Division

Arvest Bank Trust Division lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 150,446 shares of the iPhone maker’s stock after selling 1,414 shares during the quarter. Apple comprises about 2.3% of Arvest Bank Trust Division’s holdings, making the stock its 11th largest position. Arvest Bank Trust Division’s holdings in Apple were worth $37,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of AAPL. GG Group Ventures LLC boosted its stake in shares of Apple by 7.9% during the 3rd quarter. GG Group Ventures LLC now owns 5,786 shares of the iPhone maker’s stock valued at $1,320,000 after buying an additional 422 shares during the last quarter. Coldstream Capital Management Inc. increased its position in Apple by 11.7% in the third quarter. Coldstream Capital Management Inc. now owns 480,563 shares of the iPhone maker’s stock worth $111,639,000 after buying an additional 50,315 shares during the period. Unconventional Investor LLC increased its position in Apple by 6.7% in the third quarter. Unconventional Investor LLC now owns 4,373 shares of the iPhone maker’s stock worth $1,019,000 after buying an additional 275 shares during the period. Sunbelt Securities Inc. increased its position in Apple by 3.9% in the third quarter. Sunbelt Securities Inc. now owns 115,493 shares of the iPhone maker’s stock worth $26,910,000 after buying an additional 4,326 shares during the period. Finally, Asset Allocation Strategies LLC increased its holdings in shares of Apple by 8.4% during the third quarter. Asset Allocation Strategies LLC now owns 7,581 shares of the iPhone maker’s stock valued at $1,766,000 after purchasing an additional 589 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $196.45 on Friday. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The firm has a market capitalization of $2.93 trillion, a PE ratio of 31.18, a PEG ratio of 2.44 and a beta of 1.22. The business’s 50 day moving average is $201.76 and its 200-day moving average is $223.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.

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

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid 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 0.53%. This is a positive change from Apple’s previous quarterly dividend of $0.25. Apple’s payout ratio is currently 16.20%.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AAPL shares. Needham & Company LLC reissued a “hold” rating on shares of Apple in a report on Tuesday. Citigroup reiterated a “buy” rating on shares of Apple in a research report on Tuesday. Rosenblatt Securities lowered Apple from a “buy” rating to a “neutral” rating and set a $217.00 price objective for the company. in a research report on Friday, May 2nd. Tigress Financial raised their price objective on Apple from $295.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Thursday, April 3rd. Finally, Jefferies Financial Group reaffirmed an “underperform” rating and set a $170.62 price target (up from $167.88) on shares of Apple in a research note on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $234.86.

Insiders Place Their Bets

In related news, COO Jeffrey E. Williams sold 35,493 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the sale, the chief operating officer now owns 390,059 shares in the company, valued at approximately $87,377,116.59. This represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Katherine L. Adams sold 38,822 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the transaction, the senior vice president now directly owns 179,158 shares of the company’s stock, valued at approximately $40,072,269.86. The trade was a 17.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 191,507 shares of company stock valued at $42,694,080. 0.06% of the stock is currently owned by corporate 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.