Ables Iannone Moore & Associates Inc. Has $22.43 Million Position in Apple Inc. (NASDAQ:AAPL)

Ables Iannone Moore & Associates Inc. decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,972 shares of the iPhone maker’s stock after selling 515 shares during the quarter. Apple accounts for approximately 15.3% of Ables Iannone Moore & Associates Inc.’s investment portfolio, making the stock its largest position. Ables Iannone Moore & Associates Inc.’s holdings in Apple were worth $22,429,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. OneAscent Wealth Management LLC lifted its holdings in shares of Apple by 4.6% in the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock worth $2,337,000 after acquiring an additional 409 shares during the last quarter. Allstate Corp lifted its holdings in shares of Apple by 3,368.2% in 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 last quarter. Vinva Investment Management Ltd lifted its holdings in shares of Apple by 12.4% in the fourth quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker’s stock worth $192,700,000 after acquiring an additional 83,997 shares during the last quarter. Tradewinds Capital Management LLC lifted its holdings in shares of Apple by 9.2% in the fourth 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 during 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 Activity

In other news, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the sale, the chief executive officer now owns 3,280,295 shares in the company, valued at $733,637,976.75. The trade was a 3.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction 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 completion of the sale, the insider now owns 15,533 shares of the company’s stock, valued at $3,233,815.27. This represents a 22.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,507 shares of company stock worth $42,694,080 in the last quarter. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

NASDAQ:AAPL opened at $201.00 on Friday. The company has a fifty day moving average of $202.52 and a 200-day moving average of $220.53. The firm has a market capitalization of $3.00 trillion, a P/E ratio of 31.31, a P/E/G ratio of 2.25 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 Inc. has a twelve month low of $169.21 and a twelve month high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings data 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 company had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. Apple’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.53 EPS. As a group, sell-side analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

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

Apple Increases Dividend

The business 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. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. This is a positive change from Apple’s previous quarterly dividend of $0.25. Apple’s payout ratio is currently 16.20%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of Apple in a report on Wednesday, May 21st. 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. Tigress Financial boosted their target price on shares of Apple from $295.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Thursday, April 3rd. DA Davidson upped 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. Finally, JPMorgan Chase & Co. decreased their price target on shares of Apple from $245.00 to $230.00 and set an “overweight” rating for the company in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $234.39.

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.