Gilman Hill Asset Management LLC Sells 1,147 Shares of Apple Inc. (NASDAQ:AAPL)

Gilman Hill Asset Management LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 5.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,912 shares of the iPhone maker’s stock after selling 1,147 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Apple were worth $3,243,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

Several analysts have recently commented on the company. Citigroup decreased their target price on Apple from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Monday, April 29th. Oppenheimer raised their price objective on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday. Sanford C. Bernstein upped their target price on shares of Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Morgan Stanley reissued an “overweight” rating and issued a $216.00 price target on shares of Apple in a report on Tuesday, June 11th. Finally, Barclays reaffirmed an “underweight” rating and set a $164.00 price objective on shares of Apple in a report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $215.71.

Insider Activity at Apple

In other Apple news, 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 transaction of $9,244,782.12. Following the completion of the transaction, the senior vice president now owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Deirdre O’brien sold 54,732 shares of the business’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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the transaction, the director now directly owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 247,087 shares of company stock valued at $44,016,111. 0.06% of the stock is owned by insiders.

Apple Stock Performance

Shares of AAPL opened at $210.62 on Monday. The firm has a market cap of $3.23 trillion, a P/E ratio of 32.76, a PEG ratio of 2.56 and a beta of 1.25. Apple Inc. has a twelve month low of $164.07 and a twelve month 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. The firm’s 50 day moving average price is $192.13 and its two-hundred day moving average price is $185.31.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, beating the consensus estimate of $1.51 by $0.02. The business had revenue of $90.75 billion for the quarter, compared to analysts’ expectations of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. 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 posted $1.52 EPS. On average, analysts forecast that Apple Inc. will post 6.59 EPS for the current fiscal 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 issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 10th. This is an increase from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.47%. Apple’s dividend payout ratio (DPR) is presently 15.55%.

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

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.