Apple Inc. (NASDAQ:AAPL) Stock Holdings Trimmed by Jacobs & Co. CA

Jacobs & Co. CA lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 271,746 shares of the iPhone maker’s stock after selling 5,192 shares during the period. Apple accounts for approximately 4.9% of Jacobs & Co. CA’s holdings, making the stock its biggest position. Jacobs & Co. CA’s holdings in Apple were worth $46,599,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wyrmwood Management LLC boosted its holdings in 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 in the last quarter. Gilfoyle & Co LLC boosted its stake in Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares in the last quarter. A.P. Gilfoyle & Co. L.P. purchased a new stake in Apple during the 4th quarter valued at about $39,000. University of Texas Texas AM Investment Managment Co. increased its stake in Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after purchasing an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. purchased a new position in Apple in the fourth quarter worth about $85,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,999 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total value of $951,809.60. Following the completion of the transaction, the insider now directly owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The transaction was disclosed in a legal filing 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 that occurred on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the transaction, the director now owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 4,999 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total value of $951,809.60. Following the sale, the insider now owns 29,278 shares in the company, valued at approximately $5,574,531.20. The disclosure for this sale can be found here. Insiders have sold 247,087 shares of company stock valued at $44,016,111 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $210.62 on Monday. The firm has a market cap of $3.23 trillion, a price-to-earnings ratio of 32.76, a P/E/G ratio of 2.56 and a beta of 1.25. The firm has a fifty day moving average price of $192.13 and a 200 day moving average price of $185.31. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week 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 announced its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, topping the consensus estimate of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The business had revenue of $90.75 billion for the quarter, compared to analysts’ expectations of $90.37 billion. During the same quarter in the previous year, the company earned $1.52 EPS. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, sell-side analysts expect that Apple Inc. will post 6.59 earnings per share for the current fiscal year.

Apple announced that its board has initiated a stock buyback program on Thursday, May 2nd that permits the company to repurchase $110.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AAPL shares. Monness Crespi & Hardt reissued a “buy” rating and set a $205.00 price target on shares of Apple in a research report on Thursday, June 6th. Citigroup decreased their price target on Apple from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Wedbush increased their price objective on Apple from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. DA Davidson raised Apple from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $200.00 to $230.00 in a research report on Tuesday, June 11th. Finally, DZ Bank reaffirmed a “hold” rating and set a $180.00 price target on shares of Apple in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $215.71.

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.