Apple Inc. (NASDAQ:AAPL) Shares Sold by Congress Park Capital LLC

Congress Park Capital LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 9.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 37,805 shares of the iPhone maker’s stock after selling 4,166 shares during the period. Apple makes up about 3.2% of Congress Park Capital LLC’s holdings, making the stock its 9th largest holding. Congress Park Capital LLC’s holdings in Apple were worth $8,398,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Life Planning Partners Inc acquired a new stake in shares of Apple in the fourth quarter valued at $47,000. Conquis Financial LLC purchased a new stake in Apple during the 4th quarter worth about $63,000. LSV Asset Management acquired a new stake in Apple in the 4th quarter valued at about $65,000. Pillar Financial Advisors LLC purchased a new position in shares of Apple in the 4th quarter valued at about $82,000. Finally, Compass Planning Associates Inc acquired a new position in shares of Apple during the fourth quarter worth about $96,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Trading Up 0.1%

Shares of AAPL stock opened at $214.05 on Tuesday. The company has a market capitalization of $3.20 trillion, a P/E ratio of 33.34, a price-to-earnings-growth ratio of 2.39 and a beta of 1.20. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The business’s 50 day moving average is $204.87 and its two-hundred day moving average is $214.22. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10.

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

Apple Increases Dividend

The company 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 is an increase from Apple’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. Apple’s payout ratio is presently 16.20%.

Apple announced that its board has approved a stock 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 repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

AAPL has been the topic of several analyst reports. Monness Crespi & Hardt raised their target price on shares of Apple to $245.00 and gave the company a “buy” rating in a report on Tuesday, June 10th. Tigress Financial raised their price objective on shares of Apple from $295.00 to $300.00 and gave the company a “strong-buy” rating in a report on Thursday, April 3rd. Scotiabank cut shares of Apple to a “market perform” rating in a research report on Friday, May 2nd. UBS Group reissued a “hold” rating on shares of Apple in a report on Friday, July 18th. Finally, Raymond James Financial decreased their price target on Apple from $250.00 to $230.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $234.94.

Insider Transactions at Apple

In other Apple news, insider Chris Kondo sold 4,486 shares of Apple 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 sale, the insider owned 15,533 shares of the company’s stock, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by corporate insiders.

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.