Schoolcraft Capital LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 24.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,273 shares of the iPhone maker’s stock after selling 741 shares during the quarter. Schoolcraft Capital LLC’s holdings in Apple were worth $390,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Yeomans Consulting Group Inc. acquired a new stake in shares of Apple in the fourth quarter worth $1,713,000. Raleigh Capital Management Inc. boosted its position in shares of Apple by 11.8% in the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock worth $2,986,000 after buying an additional 1,643 shares during the period. Headinvest LLC boosted its position in shares of Apple by 1.7% in the third quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock worth $9,236,000 after buying an additional 872 shares during the period. GLOBALT Investments LLC GA acquired a new stake in shares of Apple in the fourth quarter worth $38,406,000. Finally, Barden Capital Management Inc. boosted its position in shares of Apple by 132.8% in the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after buying an additional 18,615 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.
Apple Stock Up 2.9 %
AAPL stock opened at $216.75 on Tuesday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $220.20. The company has a market cap of $3.32 trillion, a PE ratio of 33.71, a price-to-earnings-growth ratio of 2.56 and a beta of 1.24. The business’s 50-day simple moving average is $192.13 and its 200 day simple moving average is $185.31. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24.
Apple Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 10th. This is an increase from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 0.46%. Apple’s dividend payout ratio (DPR) is 15.55%.
Apple announced that its board has authorized a share repurchase plan on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
Analyst Ratings Changes
Several analysts have recently commented on AAPL shares. UBS Group reaffirmed a “neutral” rating and issued a $190.00 target price on shares of Apple in a research report on Monday. Barclays reissued an “underweight” rating and set a $164.00 price objective on shares of Apple in a research report on Tuesday, June 11th. JPMorgan Chase & Co. lifted their price objective on Apple from $225.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, June 18th. Evercore ISI lifted their price objective on Apple from $220.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, June 25th. Finally, Melius Research lifted their price objective on Apple from $227.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, June 24th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $215.71.
View Our Latest Stock Report on Apple
Insider Buying and Selling
In related news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the sale, the director now directly owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Apple news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the sale, the director now directly owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total value of $951,809.60. Following the sale, the insider now directly owns 29,278 shares in the company, valued at $5,574,531.20. The disclosure for this sale can be found here. Insiders have sold a total of 192,355 shares of company stock valued at $34,771,329 over the last three months. 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.
Featured Articles
- Five stocks we like better than Apple
- 3 Healthcare Dividend Stocks to Buy
- These Top 3 Banks Raise Dividends After Passing Fed Stress Test
- Are Penny Stocks a Good Fit for Your Portfolio?
- Hitch a Ride with Lyft Stock for Double-Digit Gains in 2nd Half
- What is a Bond Market Holiday? How to Invest and Trade
- Eli Lilly Stock Up: GLP-1 Zepbound Targets Sleep Apnea Market
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.