Apple Inc. (NASDAQ:AAPL) Shares Sold by Requisite Capital Management LLC

Requisite Capital Management LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 4,944 shares of the iPhone maker’s stock after selling 128 shares during the period. Apple comprises about 0.2% of Requisite Capital Management LLC’s holdings, making the stock its 25th biggest holding. Requisite Capital Management LLC’s holdings in Apple were worth $1,098,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Tallon Kerry Patrick acquired a new stake in shares of Apple in the fourth quarter valued at about $1,877,000. First National Bank of Hutchinson raised its position in shares of Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after buying an additional 6,982 shares during the last quarter. Capital & Planning LLC raised its position in shares of Apple by 10.7% in the fourth quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker’s stock valued at $6,836,000 after buying an additional 2,647 shares during the last quarter. MBM Wealth Consultants LLC raised its position in shares of Apple by 1.5% in the fourth quarter. MBM Wealth Consultants LLC now owns 15,035 shares of the iPhone maker’s stock valued at $3,666,000 after buying an additional 227 shares during the last quarter. Finally, West Branch Capital LLC grew its holdings in shares of Apple by 1.3% in the fourth quarter. West Branch Capital LLC now owns 154,737 shares of the iPhone maker’s stock valued at $38,749,000 after purchasing an additional 1,995 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Up 0.6%

Shares of NASDAQ:AAPL opened at $212.41 on Friday. The firm’s 50 day moving average price is $203.27 and its 200 day moving average price is $217.73. The stock has a market cap of $3.17 trillion, a price-to-earnings ratio of 33.09, a price-to-earnings-growth ratio of 2.36 and a beta of 1.20. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. 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 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. The business had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.53 EPS. As a group, equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

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 given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend 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%.

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

Analyst Ratings Changes

AAPL has been the subject of several recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Apple in a research report on Tuesday, June 10th. KeyCorp upgraded shares of Apple from an “underweight” rating to a “sector weight” rating in a research report on Monday, April 14th. China Renaissance started coverage on shares of Apple in a research note on Tuesday, April 22nd. They set a “buy” rating and a $241.00 target price for the company. Monness Crespi & Hardt increased their target price on shares of Apple to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, June 10th. Finally, Tigress Financial increased their target price on shares of Apple from $295.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.27.

Insider Activity at Apple

In other news, 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 value of $933,940.34. Following the transaction, the insider directly owned 15,533 shares of the company’s stock, valued at $3,233,815.27. The trade was a 22.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the transaction, the chief financial officer directly owned 4,569 shares in the company, valued at $941,214. The trade was a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by 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.