Apple Inc. (NASDAQ:AAPL) Position Boosted by Perkins Coie Trust Co

Perkins Coie Trust Co increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 100,853 shares of the iPhone maker’s stock after acquiring an additional 741 shares during the quarter. Apple makes up about 4.1% of Perkins Coie Trust Co’s holdings, making the stock its 4th largest position. Perkins Coie Trust Co’s holdings in Apple were worth $17,294,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Wyrmwood Management LLC boosted its holdings in shares of Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after acquiring an additional 69 shares during the period. A.P. Gilfoyle & Co. L.P. purchased a new stake in Apple during the 4th quarter worth about $39,000. Gilfoyle & Co LLC grew its holdings in Apple by 118.0% during the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after buying an additional 118 shares in the last quarter. University of Texas Texas AM Investment Managment Co. lifted its holdings in shares of Apple by 657.1% in the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after buying an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. bought a new position in shares of Apple in the fourth quarter valued at approximately $85,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on AAPL. Bank of America reaffirmed a “buy” rating and set a $230.00 target price on shares of Apple in a report on Wednesday. Barclays reiterated an “underweight” rating and issued a $164.00 price objective on shares of Apple in a research report on Tuesday, June 11th. Loop Capital reduced their target price on Apple from $185.00 to $170.00 and set a “hold” rating for the company in a research report on Monday, April 1st. Morgan Stanley reaffirmed an “overweight” rating and issued a $216.00 price target on shares of Apple in a report on Tuesday, June 11th. Finally, Rosenblatt Securities raised Apple from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $196.00 to $260.00 in a report on Wednesday. One investment analyst has rated the stock with a sell rating, eleven have issued 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 a consensus rating of “Moderate Buy” and a consensus price target of $215.71.

Apple Trading Down 1.6 %

Shares of 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’s 50-day moving average price is $192.13 and its 200-day moving average price is $185.40. The firm has a market capitalization of $3.23 trillion, a price-to-earnings ratio of 32.76, a PEG ratio of 2.60 and a beta of 1.25.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The business had revenue of $90.75 billion for the quarter, compared to analysts’ expectations of $90.37 billion. During the same period in the previous year, the firm posted $1.52 EPS. The business’s revenue was down 4.3% on a year-over-year basis. Sell-side analysts anticipate that Apple Inc. will post 6.59 EPS for the current year.

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 issued a $0.25 dividend. This is an increase from Apple’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.47%. Apple’s dividend payout ratio is 15.55%.

Apple declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 2nd that allows the company to buyback $110.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Apple

In other news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the sale, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the transaction, the chief executive officer now directly owns 3,377,407 shares in the company, valued at $574,260,512.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Deirdre O’brien sold 54,732 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 136,572 shares in the company, valued at approximately $23,068,376.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 346,270 shares of company stock valued at $60,880,196. 0.06% of the stock is currently 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.