Sippican Capital Advisors Sells 126 Shares of Apple Inc. $AAPL

Sippican Capital Advisors lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,310 shares of the iPhone maker’s stock after selling 126 shares during the period. Sippican Capital Advisors’ holdings in Apple were worth $1,624,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of AAPL. Tallon Kerry Patrick bought a new position in Apple during the fourth quarter worth $1,877,000. First National Bank of Hutchinson raised its position in shares of Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after purchasing an additional 6,982 shares during the period. Capital & Planning LLC lifted its stake in shares of Apple by 10.7% during the 4th 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 boosted its holdings in shares of Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after buying an additional 272 shares during the period. Finally, Brighton Jones LLC boosted its holdings in shares of Apple by 14.8% during the 4th 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 during the period. Institutional investors own 67.73% of the company’s stock.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.06% of the company’s stock.

Apple Stock Down 0.5%

Shares of Apple stock opened at $231.59 on Monday. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The stock’s 50-day moving average is $209.69 and its 200 day moving average is $212.97. The firm has a market cap of $3.44 trillion, a price-to-earnings ratio of 35.14, a PEG ratio of 2.42 and a beta of 1.16.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. The company had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.40 EPS. Equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its board has approved a stock buyback program on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s payout ratio is 15.78%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AAPL shares. Rosenblatt Securities restated a “neutral” rating and set a $217.00 price objective on shares of Apple in a research report on Tuesday, July 29th. Scotiabank cut Apple to a “market perform” rating in a report on Friday, May 2nd. The Goldman Sachs Group reissued a “buy” rating on shares of Apple in a report on Wednesday, May 21st. Needham & Company LLC reissued a “hold” rating on shares of Apple in a report on Friday, July 25th. Finally, Barclays lifted their price target on Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $237.60.

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.