Fogel Capital Management Inc. Buys 637 Shares of Apple Inc. (NASDAQ:AAPL)

Fogel Capital Management Inc. lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,062 shares of the iPhone maker’s stock after buying an additional 637 shares during the period. Apple comprises 2.4% of Fogel Capital Management Inc.’s investment portfolio, making the stock its 15th largest position. Fogel Capital Management Inc.’s holdings in Apple were worth $4,456,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Advanced Portfolio Management LLC lifted its holdings in Apple by 0.3% in the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock valued at $3,260,000 after acquiring an additional 47 shares during the last quarter. Family Capital Management Inc. raised its stake in shares of Apple by 0.3% in the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker’s stock valued at $4,235,000 after acquiring an additional 48 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in Apple by 0.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker’s stock valued at $4,178,000 after buying an additional 48 shares during the last quarter. Scarborough Advisors LLC increased its holdings in Apple by 0.3% in the fourth quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker’s stock valued at $3,992,000 after buying an additional 51 shares during the last quarter. Finally, Disciplined Investments LLC grew its holdings in shares of Apple by 0.7% during the fourth quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker’s stock worth $1,794,000 after purchasing an additional 51 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Apple

In other Apple news, 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 transaction, the chief financial officer owned 4,569 shares of the company’s stock, valued at approximately $941,214. The trade was a 50.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the company’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 transaction, the insider 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. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. China Renaissance initiated coverage on Apple in a report on Tuesday, April 22nd. They issued a “buy” rating and a $241.00 price objective on the stock. Tigress Financial boosted their price target on Apple from $295.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Thursday, April 3rd. Loop Capital decreased their price target on Apple from $230.00 to $215.00 and set a “hold” rating on the stock in a research note on Wednesday, April 30th. Needham & Company LLC reissued a “hold” rating on shares of Apple in a research note on Tuesday, June 10th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Apple in a research note on Friday, June 13th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $235.11.

Apple Price Performance

Shares of AAPL opened at $212.48 on Tuesday. The firm has a market capitalization of $3.17 trillion, a PE ratio of 33.10, a PEG ratio of 2.36 and a beta of 1.20. The company’s 50-day moving average is $204.57 and its 200-day moving average is $215.41. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78.

Apple (NASDAQ:AAPL) last released its 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 net margin of 24.30% and a return on equity of 167.24%. 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 firm earned $1.53 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its Board of Directors has approved a stock repurchase plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders 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 positive change from Apple’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.49%. Apple’s payout ratio is presently 16.20%.

Apple 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.