Apple Inc. (NASDAQ:AAPL) Shares Sold by IAM Advisory LLC

IAM Advisory LLC lessened its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,866 shares of the iPhone maker’s stock after selling 472 shares during the quarter. Apple makes up about 1.1% of IAM Advisory LLC’s holdings, making the stock its 15th largest position. IAM Advisory LLC’s holdings in Apple were worth $4,092,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Yeomans Consulting Group Inc. purchased a new stake in Apple in the 4th quarter valued at about $1,713,000. Raleigh Capital Management Inc. grew its holdings in Apple by 11.8% in the 4th 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 period. Headinvest LLC grew its holdings in Apple by 1.7% in the 3rd 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 period. GLOBALT Investments LLC GA purchased a new stake in Apple in the 4th quarter valued at about $38,406,000. Finally, Barden Capital Management Inc. grew its holdings in Apple by 132.8% in the 4th 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 period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Buying and Selling

In related news, CFO Luca Maestri sold 53,194 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $18,768,046.56. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Luca Maestri sold 53,194 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $18,768,046.56. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Arthur D. Levinson sold 75,000 shares of the stock in a transaction 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 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. Insiders sold a total of 192,355 shares of company stock worth $34,771,329 in the last three months. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on AAPL. Sanford C. Bernstein lifted their price target on Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, June 21st. Monness Crespi & Hardt reiterated a “buy” rating and set a $205.00 target price on shares of Apple in a report on Thursday, June 6th. Wedbush boosted their target price on Apple from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Morgan Stanley reiterated an “overweight” rating and set a $216.00 target price on shares of Apple in a report on Tuesday, June 11th. Finally, Canaccord Genuity Group boosted their target price on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $215.71.

Apple Stock Performance

AAPL stock opened at $220.27 on Wednesday. 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 market cap of $3.38 trillion, a P/E ratio of 34.26, a P/E/G ratio of 2.56 and a beta of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $220.38. The stock’s 50 day simple moving average is $193.14 and its 200 day simple moving average is $185.44.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (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 analyst estimates of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The business’s revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.52 EPS. As a group, equities research analysts predict that Apple Inc. will post 6.59 EPS for the current year.

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

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were paid a dividend of $0.25 per share. 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 yield of 0.45%. The ex-dividend date of this dividend was Friday, May 10th. Apple’s dividend payout ratio is presently 15.55%.

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.