Ifrah Financial Services Inc. Sells 338 Shares of Apple Inc. (NASDAQ:AAPL)

Ifrah Financial Services Inc. lowered its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,783 shares of the iPhone maker’s stock after selling 338 shares during the period. Apple makes up about 3.2% of Ifrah Financial Services Inc.’s investment portfolio, making the stock its 5th largest position. Ifrah Financial Services Inc.’s holdings in Apple were worth $9,846,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AAPL. Robinson Value Management Ltd. acquired a new stake in Apple during the third quarter worth about $28,000. Hanseatic Management Services Inc. increased its stake in Apple by 75.4% during the 3rd quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock valued at $34,000 after buying an additional 107 shares during the period. HBC Financial Services PLLC boosted its stake in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares in the last quarter. Align Wealth Management LLC acquired a new stake in Apple in the 4th quarter valued at about $55,000. Finally, PayPay Securities Corp acquired a new stake in Apple in the 4th quarter valued at about $60,000. 57.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of analyst reports. Needham & Company LLC lifted their price target on Apple from $170.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, May 5th. StockNews.com initiated coverage on shares of Apple in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Cowen cut their price objective on Apple from $200.00 to $195.00 and set an “outperform” rating on the stock in a research note on Friday, February 3rd. Credit Suisse Group lifted their target price on shares of Apple from $184.00 to $188.00 and gave the stock an “outperform” rating in a report on Thursday, April 13th. Finally, KeyCorp increased their price objective on Apple from $177.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, May 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $174.74.

Apple Stock Down 0.5 %

Shares of NASDAQ:AAPL opened at $174.20 on Tuesday. The company has a market capitalization of $2.74 trillion, a PE ratio of 29.58, a PEG ratio of 2.34 and a beta of 1.29. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $176.39. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.88 and a current ratio of 0.94. The company has a 50 day moving average price of $165.32 and a two-hundred day moving average price of $150.87.

Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings results on Thursday, May 4th. The iPhone maker reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.08. The firm had revenue of $94.84 billion for the quarter, compared to analyst estimates of $92.84 billion. Apple had a net margin of 24.49% and a return on equity of 165.72%. The business’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.52 earnings per share. Analysts forecast that Apple Inc. will post 5.99 earnings per share for the current year.

Apple Increases Dividend

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

Apple declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 4th that authorizes the company to repurchase $90.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,092 shares of the stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $173.26, for a total value of $708,979.92. Following the completion of the sale, the insider now owns 33,946 shares of the company’s stock, valued at approximately $5,881,483.96. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Apple news, COO Jeffrey E. Williams sold 187,730 shares of the company’s stock in a transaction on Wednesday, March 22nd. The shares were 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 directly owns 489,816 shares in the company, valued at $78,253,004.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 4,092 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $173.26, for a total transaction of $708,979.92. Following the sale, the insider now owns 33,946 shares of the company’s stock, valued at $5,881,483.96. The disclosure for this sale can be found here. Insiders have sold 439,529 shares of company stock valued at $71,703,657 in the last three months. 0.06% of the stock is currently owned by corporate insiders.

Apple Company 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.