Wendell David Associates Inc. decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,772 shares of the iPhone maker’s stock after selling 431 shares during the period. Apple comprises approximately 2.9% of Wendell David Associates Inc.’s holdings, making the stock its 8th largest holding. Wendell David Associates Inc.’s holdings in Apple were worth $16,054,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Kiley Juergens Wealth Management LLC boosted its stake in Apple by 1.1% during the fourth quarter. Kiley Juergens Wealth Management LLC now owns 44,530 shares of the iPhone maker’s stock worth $7,024,000 after buying an additional 494 shares during the last quarter. Rothschild & Co. Asset Management US Inc. raised its position in Apple by 9.0% in the third quarter. Rothschild & Co. Asset Management US Inc. now owns 304,348 shares of the iPhone maker’s stock valued at $68,704,000 after purchasing an additional 25,092 shares during the period. Newman Dignan & Sheerar Inc. raised its position in Apple by 5.2% in the third quarter. Newman Dignan & Sheerar Inc. now owns 23,123 shares of the iPhone maker’s stock valued at $5,186,000 after purchasing an additional 1,142 shares during the period. CKW Financial Group raised its position in Apple by 15.0% in the fourth quarter. CKW Financial Group now owns 807 shares of the iPhone maker’s stock valued at $127,000 after purchasing an additional 105 shares during the period. Finally, Dundas Partners LLP raised its position in Apple by 28.0% in the third quarter. Dundas Partners LLP now owns 43,775 shares of the iPhone maker’s stock valued at $12,083,000 after purchasing an additional 9,585 shares during the period. 57.47% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:AAPL traded down $2.76 during mid-day trading on Friday, hitting $197.18. The company had a trading volume of 38,764,368 shares, compared to its average volume of 27,024,756. Apple Inc. has a 1 year low of $142.00 and a 1 year high of $233.47. The firm has a market capitalization of $986.57 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 1.70 and a beta of 1.14. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.32 and a quick ratio of 1.26.
Apple declared that its Board of Directors has approved a share buyback plan on Tuesday, April 30th that authorizes the company to repurchase $75.00 billion in shares. This repurchase authorization authorizes the iPhone maker to purchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 13th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 1.56%. This is an increase from Apple’s previous quarterly dividend of $0.73. The ex-dividend date is Friday, May 10th. Apple’s dividend payout ratio (DPR) is 24.52%.
In other Apple news, Director Arthur D. Levinson sold 35,000 shares of Apple stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $210.86, for a total value of $7,380,100.00. Following the completion of the transaction, the director now directly owns 1,168,283 shares in the company, valued at $246,344,153.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 56,411 shares of Apple stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $210.36, for a total value of $11,866,617.96. Following the completion of the transaction, the chief operating officer now owns 151,187 shares of the company’s stock, valued at $31,803,697.32. The disclosure for this sale can be found here. Insiders sold 142,549 shares of company stock valued at $29,300,960 over the last quarter. Insiders own 0.05% of the company’s stock.
A number of equities research analysts have commented on AAPL shares. UBS Group lifted their target price on Apple from $180.00 to $185.00 in a research report on Wednesday, January 30th. Canaccord Genuity cut their price objective on Apple from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, January 30th. Monness Crespi & Hardt boosted their price objective on Apple from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, January 30th. BTIG Research cut their price objective on Apple from $197.00 to $189.00 and set a “buy” rating on the stock in a report on Wednesday, January 30th. Finally, JPMorgan Chase & Co. set a $228.00 price objective on Apple and gave the company a “buy” rating in a report on Wednesday, January 30th. Three investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $211.43.
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Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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