Asset Management Advisors LLC Has $7.54 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Asset Management Advisors LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 33,962 shares of the iPhone maker’s stock after acquiring an additional 87 shares during the period. Apple makes up about 5.1% of Asset Management Advisors LLC’s investment portfolio, making the stock its 6th biggest position. Asset Management Advisors LLC’s holdings in Apple were worth $7,544,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Catalyst Private Wealth LLC lifted its holdings in shares of Apple by 0.6% during the 1st quarter. Catalyst Private Wealth LLC now owns 12,307 shares of the iPhone maker’s stock worth $2,734,000 after acquiring an additional 78 shares during the period. Weinberger Asset Management Inc increased its position in shares of Apple by 4.9% during the 1st quarter. Weinberger Asset Management Inc now owns 12,693 shares of the iPhone maker’s stock worth $2,820,000 after purchasing an additional 594 shares in the last quarter. Beese Fulmer Investment Management Inc. increased its position in shares of Apple by 0.5% during the 1st quarter. Beese Fulmer Investment Management Inc. now owns 310,364 shares of the iPhone maker’s stock worth $68,941,000 after purchasing an additional 1,437 shares in the last quarter. Investors Research Corp increased its position in shares of Apple by 6.6% during the 1st quarter. Investors Research Corp now owns 18,040 shares of the iPhone maker’s stock worth $4,007,000 after purchasing an additional 1,114 shares in the last quarter. Finally, Avondale Wealth Management increased its position in shares of Apple by 7.3% during the 1st quarter. Avondale Wealth Management now owns 14,337 shares of the iPhone maker’s stock worth $3,185,000 after purchasing an additional 972 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Stock Down 0.3%

Shares of NASDAQ:AAPL opened at $201.00 on Friday. The company has a 50 day moving average of $202.52 and a 200-day moving average of $220.53. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The stock has a market cap of $3.00 trillion, a price-to-earnings ratio of 31.31, a P/E/G ratio of 2.25 and a beta of 1.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78.

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, topping the consensus estimate of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same quarter last year, the firm earned $1.53 EPS. Apple’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple declared that its Board of Directors has authorized a share buyback plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Apple Increases Dividend

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

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 38,822 shares of Apple stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the transaction, the senior vice president now owns 179,158 shares of the company’s stock, valued at $40,072,269.86. This trade represents a 17.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the transaction, the chief executive officer now directly owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. The trade was a 3.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,507 shares of company stock valued at $42,694,080 in the last 90 days. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AAPL. Jefferies Financial Group reiterated an “underperform” rating and set a $170.62 target price (up previously from $167.88) on shares of Apple in a research report on Friday, May 2nd. DA Davidson increased their target price on shares of Apple from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Raymond James Financial dropped their target price on shares of Apple from $250.00 to $230.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. UBS Group reiterated a “buy” rating on shares of Apple in a research report on Sunday, June 1st. Finally, China Renaissance initiated coverage on shares of Apple in a research report on Tuesday, April 22nd. They set a “buy” rating and a $241.00 target price for the company. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price 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.