Callan Capital LLC Sells 1,373 Shares of Apple Inc. $AAPL

Callan Capital LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,174 shares of the iPhone maker’s stock after selling 1,373 shares during the quarter. Apple comprises 2.1% of Callan Capital LLC’s holdings, making the stock its 11th largest holding. Callan Capital LLC’s holdings in Apple were worth $28,693,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Apple by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker’s stock valued at $349,532,608,000 after acquiring an additional 49,168,843 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Apple by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker’s stock valued at $84,999,145,000 after acquiring an additional 6,307,413 shares in the last quarter. Norges Bank bought a new stake in Apple during the fourth quarter worth $46,868,648,000. Northern Trust Corp grew its holdings in Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after buying an additional 20,079,472 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Apple by 14.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock worth $26,220,566,000 after buying an additional 13,137,968 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Activity at Apple

In other news, SVP Deirdre O’brien sold 34,821 shares of the company’s stock in a transaction on 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 transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at $30,508,538.40. This represents a 20.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is owned by corporate insiders.

Apple Stock Up 1.3%

Shares of NASDAQ:AAPL opened at $227.76 on Monday. The company has a market capitalization of $3.38 trillion, a PE ratio of 34.56, a price-to-earnings-growth ratio of 2.38 and a beta of 1.16. 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 business has a fifty day moving average price of $212.52 and a two-hundred day moving average price of $212.82. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating 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 firm had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. During the same quarter in the prior year, the firm earned $1.40 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. Analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple declared that its Board of Directors has approved a share repurchase plan 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 plans are often a sign that the company’s board of directors believes its shares are undervalued.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s dividend payout ratio is currently 15.78%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AAPL shares. UBS Group upped their price target on Apple from $210.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. Rosenblatt Securities reiterated a “neutral” rating and set a $217.00 price target on shares of Apple in a report on Tuesday, July 29th. Scotiabank downgraded Apple to a “market perform” rating in a report on Friday, May 2nd. JPMorgan Chase & Co. upped their price target on Apple from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Finally, Monness Crespi & Hardt upped their price target on Apple from $245.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Two investment 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 given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $237.98.

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.