Bokf Na Trims Holdings in Apple Inc. (NASDAQ:AAPL)

Bokf Na cut its stake in Apple Inc. (NASDAQ:AAPL) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 907,577 shares of the iPhone maker’s stock after selling 10,212 shares during the period. Apple accounts for 3.6% of Bokf Na’s investment portfolio, making the stock its 3rd largest holding. Bokf Na’s holdings in Apple were worth $214,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Drystone LLC acquired a new position in shares of Apple during the fourth quarter worth approximately $25,000. Life Planning Partners Inc bought a new position in Apple in the 4th quarter valued at $47,000. Conquis Financial LLC bought a new position in Apple in the 4th quarter valued at $63,000. LSV Asset Management bought a new position in Apple in the 4th quarter valued at $65,000. Finally, Pillar Financial Advisors LLC bought a new position in shares of Apple during the 4th quarter worth $82,000. 67.73% of the stock is currently owned by institutional investors.

Apple Price Performance

Shares of AAPL stock opened at $198.42 on Tuesday. The firm has a market cap of $2.96 trillion, a P/E ratio of 31.50, a P/E/G ratio of 2.44 and a beta of 1.22. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The business’s 50 day moving average price is $202.28 and its 200-day moving average price is $222.66. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.03. The firm 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%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company earned $1.53 EPS. On average, equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

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

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a $0.26 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Monday, May 12th. Apple’s dividend payout ratio (DPR) is currently 16.20%.

Insider Transactions at Apple

In related news, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the sale, the chief executive officer now directly owns 3,280,295 shares in the company, valued at $733,637,976.75. The trade was a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the sale, the insider now owns 15,533 shares in the company, valued at $3,233,815.27. This represents 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 currently owned by insiders.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several research reports. UBS Group reiterated a “buy” rating on shares of Apple in a research note on Sunday, June 1st. Citigroup reiterated a “buy” rating on shares of Apple in a research note on Tuesday, June 10th. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research note on Tuesday, June 10th. DA Davidson raised their target price on Apple from $230.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Finally, Tigress Financial raised their target price on Apple from $295.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Thursday, April 3rd. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $234.86.

Apple 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.