Apple Inc. (NASDAQ:AAPL) Holdings Lowered by Optas LLC

Optas LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 6.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,303 shares of the iPhone maker’s stock after selling 4,922 shares during the period. Apple makes up 2.9% of Optas LLC’s investment portfolio, making the stock its 6th largest holding. Optas LLC’s holdings in Apple were worth $16,727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the stock. 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 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 acquiring an additional 6,982 shares during the last quarter. Capital & Planning LLC raised its position in 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 acquiring an additional 2,647 shares during the last quarter. Eagle Capital Management LLC raised its position in Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after acquiring an additional 272 shares during the last quarter. Finally, Brighton Jones LLC grew its holdings in shares of Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after buying an additional 69,207 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $211.18 on Friday. The stock’s 50-day moving average is $204.57 and its 200 day moving average is $215.61. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The stock has a market cap of $3.15 trillion, a price-to-earnings ratio of 32.89, a P/E/G ratio of 2.36 and a beta of 1.20.

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 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 firm had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same period last year, the company earned $1.53 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, May 12th. This is a positive change 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 program on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Bank of America reaffirmed a “buy” rating and set a $235.00 price target on shares of Apple in a research report on Tuesday, June 10th. Jefferies Financial Group raised shares of Apple from an “underperform” rating to a “hold” rating in a research report on Friday. KeyCorp raised shares of Apple from an “underweight” rating to a “sector weight” rating in a report on Monday, April 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a report on Tuesday, June 10th. Finally, DA Davidson upped their price target on shares of Apple from $230.00 to $250.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $235.11.

Insider Activity

In related news, insider Chris Kondo sold 4,486 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the sale, the insider directly owned 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer owned 4,569 shares in the company, valued at $941,214. This represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

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.