Apple Inc. (NASDAQ:AAPL) Shares Sold by City Holding Co.

City Holding Co. cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 133,559 shares of the iPhone maker’s stock after selling 901 shares during the period. Apple makes up approximately 3.4% of City Holding Co.’s holdings, making the stock its 3rd biggest position. City Holding Co.’s holdings in Apple were worth $22,902,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AAPL. Wyrmwood Management LLC increased its stake in shares of Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 69 shares during the last quarter. Gilfoyle & Co LLC increased its stake in shares of Apple by 118.0% during the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares during the last quarter. A.P. Gilfoyle & Co. L.P. acquired a new position in shares of Apple during the 4th quarter worth $39,000. University of Texas Texas AM Investment Managment Co. increased its stake in shares of Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after purchasing an additional 368 shares during the last quarter. Finally, Clarity Asset Management Inc. acquired a new position in shares of Apple during the 4th quarter worth $85,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the transaction, the senior vice president now owns 136,572 shares in the company, valued at $23,068,376.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the transaction, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Deirdre O’brien sold 54,732 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the sale, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The disclosure for this sale can be found here. Insiders sold a total of 346,270 shares of company stock valued at $60,880,196 over the last 90 days. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on AAPL shares. Itau BBA Securities raised shares of Apple from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $162.00 to $188.00 in a report on Friday, May 3rd. Loop Capital dropped their target price on shares of Apple from $185.00 to $170.00 and set a “hold” rating for the company in a research report on Monday, April 1st. Barclays reiterated an “underweight” rating and set a $164.00 target price on shares of Apple in a research report on Tuesday, June 11th. Sanford C. Bernstein increased their target price on shares of Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Finally, UBS Group reiterated a “neutral” rating and set a $190.00 target price on shares of Apple in a research report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average target price of $214.29.

Apple Trading Up 0.4 %

NASDAQ:AAPL opened at $214.10 on Friday. The firm has a market cap of $3.28 trillion, a PE ratio of 33.30, a price-to-earnings-growth ratio of 2.54 and a beta of 1.25. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $220.20. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The stock has a fifty day moving average price of $190.27 and a 200 day moving average price of $185.14.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The company had revenue of $90.75 billion during the quarter, compared to analysts’ expectations of $90.37 billion. During the same quarter in the previous year, the business earned $1.52 earnings per share. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. Sell-side analysts anticipate that Apple Inc. will post 6.58 earnings per share for the current fiscal year.

Apple announced that its board has approved a stock repurchase plan on Thursday, May 2nd that allows the company to buyback $110.00 billion in shares. This buyback authorization allows the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were given a dividend of $0.25 per share. The ex-dividend date was Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.47%. This is a boost from Apple’s previous quarterly dividend of $0.24. Apple’s payout ratio is presently 15.55%.

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.