Tudor Financial Inc. Sells 570 Shares of Apple Inc. (NASDAQ:AAPL)

Tudor Financial Inc. trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 4.8% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 11,195 shares of the iPhone maker’s stock after selling 570 shares during the quarter. Apple comprises about 1.5% of Tudor Financial Inc.’s portfolio, making the stock its 16th biggest holding. Tudor Financial Inc.’s holdings in Apple were worth $2,487,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of AAPL. Drystone LLC bought a new stake in shares of Apple during the 4th quarter worth $25,000. Life Planning Partners Inc bought a new position in Apple in the fourth quarter valued at about $47,000. Conquis Financial LLC bought a new position in Apple in the fourth quarter valued at about $63,000. LSV Asset Management bought a new position in Apple in the fourth quarter valued at about $65,000. Finally, Pillar Financial Advisors LLC bought a new position in Apple in the fourth quarter valued at about $82,000. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AAPL shares. Scotiabank cut Apple to a “market perform” rating in a research note on Friday, May 2nd. Evercore ISI increased their price target on Apple to $250.00 and gave the company a “buy” rating in a research note on Friday, June 6th. DA Davidson increased their price target on Apple from $230.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. KeyCorp raised Apple from an “underweight” rating to a “sector weight” rating in a research note on Monday, April 14th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Apple in a research note on Friday, June 13th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.27.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider directly owned 15,533 shares in the company, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the sale, the chief financial officer owned 4,569 shares in the company, valued at $941,214. This trade represents 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 owned by company insiders.

Apple Stock Up 0.5%

AAPL stock opened at $210.16 on Thursday. Apple Inc. has a twelve month low of $169.21 and a twelve month 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. The stock’s 50 day moving average is $204.07 and its 200-day moving average is $216.41. The firm has a market capitalization of $3.14 trillion, a PE ratio of 32.74, a P/E/G ratio of 2.34 and a beta of 1.20.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The company had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same quarter last year, the company earned $1.53 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. This is a positive change from Apple’s previous quarterly dividend of $0.25. Apple’s dividend payout ratio (DPR) is currently 16.20%.

Apple announced that its Board of Directors has approved a share buyback program on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

About Apple

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.