Folger Nolan Fleming Douglas Capital Management Inc. Sells 745 Shares of Apple Inc. (NASDAQ:AAPL)

Folger Nolan Fleming Douglas Capital Management Inc. decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 175,457 shares of the iPhone maker’s stock after selling 745 shares during the quarter. Apple comprises approximately 3.1% of Folger Nolan Fleming Douglas Capital Management Inc.’s investment portfolio, making the stock its 6th biggest holding. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Apple were worth $30,087,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. High Net Worth Advisory Group LLC raised its position in shares of Apple by 2.6% during the 1st quarter. High Net Worth Advisory Group LLC now owns 62,544 shares of the iPhone maker’s stock valued at $10,725,000 after acquiring an additional 1,596 shares during the last quarter. Rheos Capital Works Inc. increased its holdings in Apple by 105.7% in the first quarter. Rheos Capital Works Inc. now owns 208,200 shares of the iPhone maker’s stock valued at $35,702,000 after purchasing an additional 107,000 shares during the last quarter. Single Point Partners LLC lifted its stake in Apple by 1.1% in the first quarter. Single Point Partners LLC now owns 17,231 shares of the iPhone maker’s stock valued at $2,955,000 after buying an additional 182 shares during the period. Ballentine Partners LLC boosted its holdings in Apple by 4.1% during the first quarter. Ballentine Partners LLC now owns 323,767 shares of the iPhone maker’s stock worth $55,520,000 after buying an additional 12,623 shares during the last quarter. Finally, Royal Fund Management LLC boosted its holdings in Apple by 5.8% during the first quarter. Royal Fund Management LLC now owns 63,659 shares of the iPhone maker’s stock worth $10,919,000 after buying an additional 3,473 shares during the last quarter. 60.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the transaction, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through this link. Also, SVP Deirdre O’brien sold 54,732 shares of Apple 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 directly 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 sold a total of 346,270 shares of company stock valued at $60,880,196 over the last ninety days. 0.06% of the stock is currently owned by company insiders.

Apple Price Performance

NASDAQ:AAPL opened at $210.62 on Friday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $220.20. 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 fifty day simple moving average of $192.13 and a 200 day simple moving average of $185.46. The stock has a market capitalization of $3.23 trillion, a PE ratio of 32.76, a P/E/G ratio of 2.59 and a beta of 1.25.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, topping 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 firm had revenue of $90.75 billion during the quarter, compared to analysts’ expectations of $90.37 billion. During the same period in the previous year, the business posted $1.52 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, research analysts expect that Apple Inc. will post 6.59 EPS for the current fiscal year.

Apple announced that its board has authorized a share buyback program on Thursday, May 2nd that permits the company to buyback $110.00 billion in shares. This buyback authorization permits the iPhone maker to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Apple Increases Dividend

The business 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 represents a $1.00 dividend on an annualized basis and a yield of 0.47%. This is a boost from Apple’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, May 10th. Apple’s payout ratio is 15.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AAPL shares. JPMorgan Chase & Co. raised their target price on Apple from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Rosenblatt Securities upgraded Apple from a “neutral” rating to a “buy” rating and raised their target price for the stock from $196.00 to $260.00 in a report on Wednesday. Evercore ISI raised their target price on Apple from $220.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday. Itau BBA Securities upgraded Apple from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $162.00 to $188.00 in a report on Friday, May 3rd. Finally, 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. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $215.71.

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.