Apple Inc. (NASDAQ:AAPL) is Bowman & Co S.C.’s 5th Largest Position

Bowman & Co S.C. reduced its stake in Apple Inc. (NASDAQ:AAPL) by 1.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,184 shares of the iPhone maker’s stock after selling 274 shares during the period. Apple makes up approximately 2.8% of Bowman & Co S.C.’s portfolio, making the stock its 5th biggest position. Bowman & Co S.C.’s holdings in Apple were worth $4,662,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wyrmwood Management LLC boosted its position in Apple by 69.0% in the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after buying an additional 69 shares during the period. A.P. Gilfoyle & Co. L.P. purchased a new stake in shares of Apple during the fourth quarter worth $39,000. Gilfoyle & Co LLC raised its stake in shares of Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after acquiring an additional 118 shares in the last quarter. University of Texas Texas AM Investment Managment Co. boosted its holdings in Apple by 657.1% in the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after purchasing an additional 368 shares during the period. Finally, Clarity Asset Management Inc. acquired a new position in Apple during the 4th quarter worth $85,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of analyst reports. Bank of America reissued a “buy” rating and set a $230.00 price objective on shares of Apple in a research report on Wednesday, June 26th. Maxim Group raised their price objective on shares of Apple from $178.00 to $195.00 and gave the company a “hold” rating in a report on Tuesday, June 25th. Rosenblatt Securities upgraded shares of Apple from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $196.00 to $260.00 in a research note on Wednesday, June 26th. Monness Crespi & Hardt reissued a “buy” rating and issued a $205.00 target price on shares of Apple in a report on Thursday, June 6th. Finally, Oppenheimer lifted their price target on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $215.71.

Apple Stock Up 0.6 %

Shares of NASDAQ AAPL opened at $221.55 on Thursday. The firm has a market cap of $3.40 trillion, a P/E ratio of 34.46, a price-to-earnings-growth ratio of 2.56 and a beta of 1.24. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $221.55. The firm’s 50 day moving average price is $194.21 and its 200 day moving average price is $185.60.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The business had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.52 earnings per share. As a group, sell-side analysts anticipate that Apple Inc. will post 6.59 earnings per share for the current year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were issued a dividend of $0.25 per share. This is a positive change from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Friday, May 10th. Apple’s dividend payout ratio is presently 15.55%.

Apple declared that its board has approved a share repurchase program on Thursday, May 2nd that permits the company to buyback $110.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the transaction, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Chris Kondo sold 4,999 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the completion of the sale, the insider now directly owns 29,278 shares in the company, valued at approximately $5,574,531.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the transaction, the director now directly owns 4,359,576 shares in the company, valued at $835,207,570.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 192,355 shares of company stock valued at $34,771,329. Insiders own 0.06% of the company’s stock.

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.