NCM Capital Management LLC Buys 289 Shares of Apple Inc. (NASDAQ:AAPL)

NCM Capital Management LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,922 shares of the iPhone maker’s stock after acquiring an additional 289 shares during the quarter. Apple comprises approximately 4.2% of NCM Capital Management LLC’s investment portfolio, making the stock its 4th biggest holding. NCM Capital Management LLC’s holdings in Apple were worth $9,246,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. OneAscent Wealth Management LLC grew its position in Apple by 4.6% in the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock valued at $2,337,000 after purchasing an additional 409 shares in the last quarter. Allstate Corp increased its position in Apple by 3,368.2% during the fourth quarter. Allstate Corp now owns 451,489 shares of the iPhone maker’s stock worth $113,062,000 after acquiring an additional 438,471 shares during the period. Vinva Investment Management Ltd grew its holdings in shares of Apple by 12.4% during the 4th quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker’s stock worth $192,700,000 after purchasing an additional 83,997 shares in the last quarter. Tradewinds Capital Management LLC boosted its position in shares of Apple by 9.2% during the 4th quarter. Tradewinds Capital Management LLC now owns 21,198 shares of the iPhone maker’s stock worth $5,308,000 after acquiring an additional 1,779 shares in the last quarter. Finally, Berkshire Bank lifted its holdings in shares of Apple by 2.7% in the fourth quarter. Berkshire Bank now owns 89,580 shares of the iPhone maker’s stock worth $22,433,000 after acquiring an additional 2,360 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling

In other Apple news, SVP Katherine L. Adams sold 38,822 shares of the firm’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 sale, the senior vice president now owns 179,158 shares in the company, valued at approximately $40,072,269.86. This trade represents a 17.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the transaction, the chief executive officer now owns 3,280,295 shares in the company, valued at $733,637,976.75. This represents a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 191,507 shares of company stock valued at $42,694,080. 0.06% of the stock is owned by corporate insiders.

Apple Price Performance

Apple stock opened at $195.64 on Wednesday. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The firm’s 50-day simple moving average is $202.21 and its 200 day simple moving average is $222.47. The firm has a market capitalization of $2.92 trillion, a PE ratio of 30.47, a P/E/G ratio of 2.22 and a beta of 1.22. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. Apple’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.53 earnings per share. On average, equities research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

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

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Monday, May 12th. This is an increase from Apple’s previous quarterly dividend of $0.25. Apple’s payout ratio is currently 16.20%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AAPL. TD Cowen dropped their price objective on shares of Apple from $290.00 to $275.00 and set a “buy” rating for the company in a report on Friday, May 2nd. China Renaissance assumed coverage on shares of Apple in a research report on Tuesday, April 22nd. They set a “buy” rating and a $241.00 price objective for the company. Evercore ISI boosted their price objective on Apple to $250.00 and gave the company a “buy” rating in a report on Friday, June 6th. KeyCorp raised Apple from an “underweight” rating to a “sector weight” rating in a research report on Monday, April 14th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a report on Wednesday, May 21st. Three research 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 company’s stock. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $234.86.

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.