Apple Inc. $AAPL Shares Sold by New Capital Management LP

New Capital Management LP lessened its stake in Apple Inc. (NASDAQ:AAPL) by 5.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 78,411 shares of the iPhone maker’s stock after selling 4,210 shares during the quarter. Apple makes up 5.0% of New Capital Management LP’s holdings, making the stock its 4th biggest position. New Capital Management LP’s holdings in Apple were worth $17,417,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in AAPL. Norges Bank acquired a new stake in shares of Apple in the 4th quarter valued at approximately $46,868,648,000. GAMMA Investing LLC boosted its holdings in shares of Apple by 25,934.1% in the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock valued at $133,425,490,000 after buying an additional 59,835,676 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Apple by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker’s stock valued at $349,532,608,000 after buying an additional 49,168,843 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Apple by 23,555.4% in the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker’s stock valued at $5,272,653,000 after buying an additional 20,966,232 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after buying an additional 20,079,472 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Down 0.5%

AAPL opened at $224.90 on Friday. 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 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The company has a market capitalization of $3.34 trillion, a P/E ratio of 34.13, a P/E/G ratio of 2.37 and a beta of 1.16. The stock has a fifty day moving average of $211.89 and a 200-day moving average of $213.13.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter last year, the firm earned $1.40 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. On average, equities analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its Board of Directors has approved a share buyback program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were given a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. Apple’s dividend payout ratio (DPR) is presently 15.78%.

Insider Activity at Apple

In related news, SVP Deirdre O’brien sold 34,821 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on AAPL shares. TD Cowen cut their price target on Apple from $290.00 to $275.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Wedbush reaffirmed an “outperform” rating and set a $270.00 price target on shares of Apple in a report on Thursday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a report on Friday, July 25th. Bank of America raised their price target on Apple from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Finally, Scotiabank downgraded Apple to a “market perform” rating in a report on Friday, May 2nd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $237.98.

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.