Apple Inc. (NASDAQ:AAPL) is Nicollet Investment Management Inc.’s Largest Position

Nicollet Investment Management Inc. cut its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 16.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 159,193 shares of the iPhone maker’s stock after selling 31,201 shares during the quarter. Apple accounts for 11.9% of Nicollet Investment Management Inc.’s investment portfolio, making the stock its largest position. Nicollet Investment Management Inc.’s holdings in Apple were worth $20,684,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Apple by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after acquiring an additional 8,734,393 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Apple by 1.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock worth $14,097,970,000 after acquiring an additional 1,155,915 shares during the last quarter. Swiss National Bank boosted its stake in Apple by 13.1% during the first quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock worth $12,407,910,000 after buying an additional 8,230,300 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Apple by 1.2% during the fourth quarter. Fisher Asset Management LLC now owns 59,874,884 shares of the iPhone maker’s stock worth $7,779,544,000 after buying an additional 698,686 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in Apple by 0.9% during the first quarter. Jennison Associates LLC now owns 48,826,270 shares of the iPhone maker’s stock worth $8,525,555,000 after buying an additional 424,839 shares during the last quarter. 57.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AAPL shares. Canaccord Genuity Group boosted their price objective on Apple from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, May 5th. StockNews.com started coverage on Apple in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Raymond James lowered their price objective on Apple from $185.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, February 3rd. Evercore ISI reissued an “outperform” rating and set a $190.00 price objective on shares of Apple in a research note on Monday, February 6th. Finally, Loop Capital downgraded Apple from a “buy” rating to a “hold” rating and set a $180.00 target price on the stock. in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $174.74.

Apple Price Performance

Shares of NASDAQ AAPL opened at $174.20 on Tuesday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.88 and a current ratio of 0.94. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $176.39. The firm has a market capitalization of $2.74 trillion, a PE ratio of 29.58, a price-to-earnings-growth ratio of 2.34 and a beta of 1.29. The stock’s 50-day simple moving average is $165.32 and its 200-day simple moving average is $150.87.

Apple (NASDAQ:AAPLGet Rating) last issued its earnings results on Thursday, May 4th. The iPhone maker reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.08. Apple had a return on equity of 165.72% and a net margin of 24.49%. The business had revenue of $94.84 billion for the quarter, compared to analyst estimates of $92.84 billion. During the same quarter last year, the company earned $1.52 EPS. The business’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, equities research analysts forecast that Apple Inc. will post 5.99 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Monday, May 15th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Friday, May 12th. This is a positive change from Apple’s previous quarterly dividend of $0.23. Apple’s dividend payout ratio (DPR) is 16.30%.

Apple declared that its board has initiated a share repurchase program on Thursday, May 4th that permits the company to buyback $90.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to buy up to 3.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Apple

In other news, COO Jeffrey E. Williams sold 187,730 shares of the firm’s stock in a transaction dated Wednesday, March 22nd. The stock was sold at an average price of $159.76, for a total transaction of $29,991,744.80. Following the sale, the chief operating officer now owns 489,816 shares of the company’s stock, valued at approximately $78,253,004.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Luca Maestri sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, April 6th. The stock was sold at an average price of $164.92, for a total transaction of $32,984.00. Following the transaction, the chief financial officer now owns 177,657 shares in the company, valued at approximately $29,299,192.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey E. Williams sold 187,730 shares of the firm’s stock in a transaction that occurred on Wednesday, March 22nd. The stock was sold at an average price of $159.76, for a total value of $29,991,744.80. Following the transaction, the chief operating officer now owns 489,816 shares in the company, valued at approximately $78,253,004.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 439,529 shares of company stock valued at $71,703,657. Corporate insiders own 0.06% of the company’s stock.

Apple Profile

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Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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