Chelsea Counsel Co. Trims Stock Position in Apple Inc. (NASDAQ:AAPL)

Chelsea Counsel Co. lessened its stake in Apple Inc. (NASDAQ:AAPL) by 11.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 100,668 shares of the iPhone maker’s stock after selling 13,333 shares during the period. Apple comprises about 9.8% of Chelsea Counsel Co.’s portfolio, making the stock its biggest position. Chelsea Counsel Co.’s holdings in Apple were worth $17,263,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Christopher J. Hasenberg Inc acquired a new position in shares of Apple in the 1st quarter valued at about $35,000. Fidelis Capital Partners LLC lifted its stake in shares of Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 31,278 shares during the period. A.P. Gilfoyle & Co. L.P. acquired a new position in shares of Apple in the 4th quarter valued at about $39,000. Gilfoyle & Co LLC lifted its stake in shares of Apple by 168.0% in the 4th quarter. Gilfoyle & Co LLC now owns 268 shares of the iPhone maker’s stock valued at $52,000 after purchasing an additional 168 shares during the period. Finally, University of Texas Texas AM Investment Managment Co. lifted its stake in shares of Apple by 657.1% in 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 during the period. Institutional investors own 60.41% of the company’s stock.

Apple Trading Up 1.0 %

NASDAQ AAPL opened at $226.84 on Friday. The stock’s 50-day simple moving average is $220.32 and its two-hundred day simple moving average is $194.44. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.23. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $3.48 trillion, a price-to-earnings ratio of 35.28, a PEG ratio of 2.60 and a beta of 1.24.

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

Apple Dividend Announcement

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

Apple announced that its board has authorized a stock buyback plan on Thursday, May 2nd that permits the company to buyback $110.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

AAPL has been the topic of a number of recent analyst reports. Moffett Nathanson began coverage on Apple in a research note on Monday, August 19th. They issued a “neutral” rating and a $211.00 price objective on the stock. StockNews.com raised Apple from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group upped their price target on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Canaccord Genuity Group increased their price objective on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Saturday, May 4th. Finally, Rosenblatt Securities increased their price objective on Apple from $260.00 to $261.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $233.63.

Insider Activity

In other news, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 4,359,576 shares in the company, valued at $835,207,570.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 188,884 shares of company stock valued at $38,092,387. 0.06% of the stock is currently owned by insiders.

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.