Folger Nolan Fleming Douglas Capital Management Inc. Sells 4,445 Shares of Apple Inc. (NASDAQ:AAPL)

Folger Nolan Fleming Douglas Capital Management Inc. lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 2.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 150,542 shares of the iPhone maker’s stock after selling 4,445 shares during the quarter. Apple comprises about 3.8% of Folger Nolan Fleming Douglas Capital Management Inc.’s investment portfolio, making the stock its 6th largest position. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Apple were worth $33,440,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Hilltop Wealth Advisors LLC boosted its stake in Apple by 28.8% in the first quarter. Hilltop Wealth Advisors LLC now owns 7,448 shares of the iPhone maker’s stock worth $1,655,000 after purchasing an additional 1,665 shares in the last quarter. Schoolcraft Capital LLC lifted its stake in shares of Apple by 22.9% during the first quarter. Schoolcraft Capital LLC now owns 2,706 shares of the iPhone maker’s stock valued at $601,000 after acquiring an additional 505 shares during the period. Bensler LLC lifted its stake in shares of Apple by 2.4% during the first quarter. Bensler LLC now owns 139,514 shares of the iPhone maker’s stock valued at $30,990,000 after acquiring an additional 3,241 shares during the period. Smithbridge Asset Management Inc. DE acquired a new position in shares of Apple during the first quarter valued at $36,097,000. Finally, F&V Capital Management LLC lifted its stake in shares of Apple by 63.5% during the first quarter. F&V Capital Management LLC now owns 2,215 shares of the iPhone maker’s stock valued at $492,000 after acquiring an additional 860 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AAPL shares. Scotiabank lowered Apple to a “market perform” rating in a research note on Friday, May 2nd. UBS Group set a $210.00 price target on Apple and gave the company a “neutral” rating in a research note on Thursday, July 3rd. JPMorgan Chase & Co. cut their price target on Apple from $245.00 to $230.00 and set an “overweight” rating on the stock in a research note on Thursday, June 26th. Monness Crespi & Hardt upped their price target on Apple to $245.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. Finally, Tigress Financial upped their price target on Apple from $295.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average target price of $235.27.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $210.16 on Thursday. The stock has a 50 day moving average price of $204.07 and a 200 day moving average price of $216.41. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The stock has a market capitalization of $3.14 trillion, a PE ratio of 32.74, a price-to-earnings-growth ratio of 2.34 and a beta of 1.20.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The firm had revenue of $95.36 billion during the quarter, compared to analysts’ expectations of $94.04 billion. During the same period in the prior year, the firm posted $1.53 earnings per share. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. Analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a dividend of $0.26 per share. The ex-dividend date was Monday, May 12th. This is a boost from Apple’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.49%. Apple’s dividend payout ratio is 16.20%.

Apple announced that its board has authorized a stock buyback program on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity at Apple

In other news, insider Chris Kondo sold 4,486 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider directly owned 15,533 shares of the company’s stock, valued at $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kevan Parekh sold 4,570 shares of the firm’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the sale, the chief financial officer directly owned 4,569 shares of the company’s stock, valued at approximately $941,214. The trade was a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

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.