Apple Inc. (NASDAQ:AAPL) Shares Sold by Requisite Capital Management LLC

Requisite Capital Management LLC decreased its stake in Apple Inc. (NASDAQ:AAPL) by 1.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 8,361 shares of the iPhone maker’s stock after selling 100 shares during the period. Apple accounts for 0.3% of Requisite Capital Management LLC’s portfolio, making the stock its 23rd biggest position. Requisite Capital Management LLC’s holdings in Apple were worth $1,434,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AAPL. A.P. Gilfoyle & Co. L.P. acquired a new stake in shares of Apple in the 4th quarter worth $39,000. Gilfoyle & Co LLC lifted its stake in shares of Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after acquiring an additional 118 shares during the period. University of Texas Texas AM Investment Managment Co. lifted its stake in shares of Apple by 657.1% in 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 acquiring an additional 368 shares during the period. Clarity Asset Management Inc. acquired a new stake in shares of Apple in the 4th quarter worth $85,000. Finally, Clear Street Markets LLC increased its holdings in shares of Apple by 100.6% in the 4th quarter. Clear Street Markets LLC now owns 483 shares of the iPhone maker’s stock valued at $93,000 after purchasing an additional 83,965 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Buying and Selling at Apple

In other news, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 4,359,576 shares in the company, valued at $835,207,570.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 4,359,576 shares in the company, valued at $835,207,570.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chris Kondo sold 4,999 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total transaction of $951,809.60. Following the transaction, the insider now owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Apple Trading Up 1.3 %

Shares of NASDAQ:AAPL opened at $230.54 on Monday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $233.08. The stock has a market cap of $3.54 trillion, a PE ratio of 35.85, a P/E/G ratio of 2.80 and a beta of 1.24. The business has a 50 day moving average of $203.00 and a 200-day moving average of $187.44. 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 (NASDAQ:AAPL) last released its quarterly earnings results 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 net margin of 26.31% and a return on equity of 148.33%. The company had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. During the same period in the previous year, the business earned $1.52 earnings per share. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, equities research analysts forecast that Apple Inc. will post 6.59 earnings per share for the current year.

Apple announced that its Board of Directors has authorized a share buyback program 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 stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Apple Increases Dividend

The company also recently disclosed 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. This is an increase from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date was Friday, May 10th. Apple’s payout ratio is currently 15.55%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. DZ Bank reiterated a “hold” rating and issued a $180.00 price target on shares of Apple in a report on Thursday, March 28th. Wedbush reiterated an “outperform” rating and issued a $275.00 price target on shares of Apple in a report on Thursday. Canaccord Genuity Group increased their price target on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a report on Saturday, May 4th. Barclays restated an “underweight” rating and set a $164.00 target price on shares of Apple in a report on Tuesday, June 11th. Finally, Rosenblatt Securities upgraded shares of Apple from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $196.00 to $260.00 in a report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $218.43.

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.