Silverberg Bernstein Capital Management LLC Sells 124 Shares of Apple Inc. (NASDAQ:AAPL)

Silverberg Bernstein Capital Management LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.4% in the first quarter, Holdings Channel.com reports. The firm owned 3,500 shares of the iPhone maker’s stock after selling 124 shares during the period. Silverberg Bernstein Capital Management LLC’s holdings in Apple were worth $600,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Yeomans Consulting Group Inc. bought a new position in Apple during the 4th quarter valued at approximately $1,713,000. Raleigh Capital Management Inc. raised its stake in Apple by 11.8% during 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 during the last quarter. Headinvest LLC raised its stake in Apple by 1.7% during the third quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock valued at $9,236,000 after buying an additional 872 shares during the last quarter. GLOBALT Investments LLC GA purchased a new position in Apple during the fourth quarter valued at $38,406,000. Finally, Barden Capital Management Inc. raised its stake in Apple by 132.8% during the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock valued at $6,283,000 after buying an additional 18,615 shares during the last quarter. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Trading Up 0.4 %

AAPL opened at $209.07 on Wednesday. The stock has a market cap of $3.21 trillion, a price-to-earnings ratio of 32.51, a P/E/G ratio of 2.52 and a beta of 1.25. The stock’s 50 day moving average price is $189.37 and its 200-day moving average price is $184.94. Apple Inc. has a one year low of $164.07 and a one year high of $220.20. 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 (NASDAQ:AAPL) last released its earnings results 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 firm had revenue of $90.75 billion for the quarter, compared to analysts’ expectations of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.52 earnings per share. On average, equities analysts forecast that Apple Inc. will post 6.58 EPS for the current year.

Apple Increases Dividend

The company also recently disclosed 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 represents a $1.00 annualized dividend and a yield of 0.48%. This is a boost from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio is 15.55%.

Apple announced that its board has authorized a share repurchase program on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of recent research reports. Rosenblatt Securities reiterated a “neutral” rating and set a $196.00 price objective on shares of Apple in a research note on Tuesday, June 11th. Canaccord Genuity Group lifted their price objective on Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Saturday, May 4th. Barclays reiterated an “underweight” rating and set a $164.00 price objective on shares of Apple in a research note on Tuesday, June 11th. Evercore ISI lifted their target price on Apple from $220.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, DA Davidson raised Apple from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $200.00 to $230.00 in a report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $212.46.

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 54,732 shares of the company’s 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 sale, the senior vice president now 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 have sold a total of 346,270 shares of company stock valued at $60,880,196 over the last quarter. 0.06% of the stock is owned by corporate insiders.

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.