Apple Inc. (NASDAQ:AAPL) is Boltwood Capital Management’s 8th Largest Position

Boltwood Capital Management decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.0% during the second quarter, HoldingsChannel reports. The firm owned 35,646 shares of the iPhone maker’s stock after selling 727 shares during the period. Apple makes up approximately 2.3% of Boltwood Capital Management’s holdings, making the stock its 8th biggest holding. Boltwood Capital Management’s holdings in Apple were worth $7,508,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Apple in the 4th quarter worth approximately $33,912,466,000. Vanguard Group Inc. raised its position in Apple by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock worth $253,766,929,000 after purchasing an additional 18,067,216 shares during the period. Swedbank AB bought a new stake in Apple in the first quarter worth $3,026,492,000. Global Assets Advisory LLC boosted its position in Apple by 23,076.4% during the first quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock valued at $1,584,512,000 after buying an additional 9,200,345 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in shares of Apple by 158.3% during the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after buying an additional 7,067,379 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AAPL. Wedbush boosted their target price on Apple from $275.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Tigress Financial boosted their price objective on Apple from $240.00 to $245.00 and gave the company a “strong-buy” rating in a research report on Thursday, May 30th. Cfra increased their price objective on Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Evercore ISI reaffirmed a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Thursday, August 1st. Finally, Raymond James increased their price target on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $233.63.

Insider Activity at Apple

In other Apple news, 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 transaction of $14,368,500.00. Following the sale, the director now directly 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 accessible through the SEC website. In other news, Director Arthur D. Levinson sold 75,000 shares of the business’s 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 owns 4,359,576 shares in the company, valued at $835,207,570.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The disclosure for this sale can be found here. Insiders sold 188,884 shares of company stock valued at $38,092,387 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Up 0.1 %

Apple stock opened at $227.18 on Tuesday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23. 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 business’s fifty day simple moving average is $220.53 and its two-hundred day simple moving average is $194.75. The company has a market capitalization of $3.48 trillion, a price-to-earnings ratio of 35.33, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 145.35%. Apple’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.26 EPS. As a group, equities analysts predict that Apple Inc. will post 6.61 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s payout ratio is 15.55%.

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

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.