Apple Inc. (NASDAQ:AAPL) Shares Sold by Adams Asset Advisors LLC

Adams Asset Advisors LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 97,320 shares of the iPhone maker’s stock after selling 1,795 shares during the quarter. Apple makes up 2.2% of Adams Asset Advisors LLC’s portfolio, making the stock its 6th largest position. Adams Asset Advisors LLC’s holdings in Apple were worth $16,688,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Yeomans Consulting Group Inc. acquired a new stake in shares of Apple in the fourth quarter valued at $1,713,000. Raleigh Capital Management Inc. increased its stake 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 valued at $2,986,000 after buying an additional 1,643 shares in the last quarter. Headinvest LLC increased its position in 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 purchasing an additional 872 shares during the period. GLOBALT Investments LLC GA acquired a new stake in Apple in the fourth quarter worth about $38,406,000. Finally, Barden Capital Management Inc. increased its position in 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 purchasing an additional 18,615 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. DZ Bank reiterated a “hold” rating and issued a $180.00 price objective on shares of Apple in a research report on Thursday, March 28th. Monness Crespi & Hardt reiterated a “buy” rating and issued a $205.00 price objective on shares of Apple in a research report on Thursday, June 6th. DA Davidson upgraded Apple from a “neutral” rating to a “buy” rating and raised their target price for the stock from $200.00 to $230.00 in a report on Tuesday, June 11th. Rosenblatt Securities restated a “neutral” rating and set a $196.00 target price on shares of Apple in a report on Tuesday, June 11th. Finally, Needham & Company LLC restated a “buy” rating and set a $220.00 target price on shares of Apple in a report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $209.38.

Apple Stock Down 1.0 %

AAPL stock opened at $207.49 on Friday. 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 firm has a market capitalization of $3.18 trillion, a PE ratio of 32.27, a PEG ratio of 2.61 and a beta of 1.25. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $220.20. The business’s 50 day simple moving average is $187.87 and its 200 day simple moving average is $184.87.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The business had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.52 EPS. As a group, research analysts anticipate that Apple Inc. will post 6.58 EPS for the current year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were paid a $0.25 dividend. The ex-dividend date was Friday, May 10th. This is an increase from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 0.48%. Apple’s payout ratio 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 shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Activity at Apple

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

Apple 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.