Caldwell Sutter Capital Inc. Has $10.72 Million Stake in Apple Inc. (NASDAQ:AAPL)

Caldwell Sutter Capital Inc. cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,279 shares of the iPhone maker’s stock after selling 1,899 shares during the period. Apple accounts for 5.1% of Caldwell Sutter Capital Inc.’s holdings, making the stock its largest position. Caldwell Sutter Capital Inc.’s holdings in Apple were worth $10,724,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Tallon Kerry Patrick bought a new position in Apple in the fourth quarter valued at approximately $1,877,000. First National Bank of Hutchinson grew its stake in shares of Apple by 24.6% during the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after buying an additional 6,982 shares during the last quarter. Capital & Planning LLC grew its stake in shares of Apple by 10.7% during the fourth quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker’s stock worth $6,836,000 after buying an additional 2,647 shares during the last quarter. Eagle Capital Management LLC grew its stake in shares of Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after purchasing an additional 272 shares during the last quarter. Finally, Brighton Jones LLC grew its stake in shares of Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after purchasing an additional 69,207 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Kevan Parekh sold 4,570 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 4,569 shares of the company’s stock, valued at $941,214. This represents a 50.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AAPL. Morgan Stanley reissued an “overweight” rating on shares of Apple in a research note on Friday, June 13th. Jefferies Financial Group upgraded shares of Apple from an “underperform” rating to a “hold” rating and boosted their target price for the company from $170.62 to $188.32 in a report on Tuesday, July 1st. Wedbush restated an “outperform” rating and issued a $270.00 target price on shares of Apple in a report on Wednesday, July 9th. China Renaissance assumed coverage on shares of Apple in a report on Tuesday, April 22nd. They set a “buy” rating and a $241.00 price objective on the stock. Finally, UBS Group set a $210.00 price objective on shares of Apple and gave the company a “neutral” rating in a report on Thursday, July 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.11.

Apple Stock Performance

Shares of Apple stock opened at $210.02 on Friday. The firm has a market capitalization of $3.14 trillion, a P/E ratio of 32.71, a PEG ratio of 2.35 and a beta of 1.20. 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 company has a 50 day moving average price of $204.32 and a 200 day moving average price of $216.12. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.

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 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 firm had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. During the same period in the previous year, the firm earned $1.53 EPS. The business’s quarterly revenue 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 year.

Apple announced that its board has approved a share 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 buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a $0.26 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.50%. The ex-dividend date was Monday, May 12th. Apple’s payout ratio is 16.20%.

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.