Apple Inc. (NASDAQ:AAPL) Stock Position Cut by Neumann Capital Management LLC

Neumann Capital Management LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.3% during the fourth quarter, Holdings Channel reports. The fund owned 95,799 shares of the iPhone maker’s stock after selling 1,260 shares during the period. Apple comprises 5.8% of Neumann Capital Management LLC’s investment portfolio, making the stock its 2nd largest position. Neumann Capital Management LLC’s holdings in Apple were worth $12,447,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. MKT Advisors LLC grew its holdings in shares of Apple by 0.5% during the second quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock valued at $1,777,000 after purchasing an additional 60 shares during the last quarter. Silver Oak Advisory Group Inc. grew its position in shares of Apple by 1.8% during the second quarter. Silver Oak Advisory Group Inc. now owns 3,925 shares of the iPhone maker’s stock worth $537,000 after acquiring an additional 69 shares during the last quarter. 3D L Capital Management LLC grew its position in shares of Apple by 2.9% during the first quarter. 3D L Capital Management LLC now owns 2,445 shares of the iPhone maker’s stock worth $427,000 after acquiring an additional 70 shares during the last quarter. Weik Capital Management grew its position in shares of Apple by 0.3% during the first quarter. Weik Capital Management now owns 25,238 shares of the iPhone maker’s stock worth $4,407,000 after acquiring an additional 70 shares during the last quarter. Finally, Coyle Financial Counsel LLC grew its position in shares of Apple by 0.3% during the second quarter. Coyle Financial Counsel LLC now owns 26,125 shares of the iPhone maker’s stock worth $3,572,000 after acquiring an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 57.60% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $171.56 on Wednesday. The business has a fifty day simple moving average of $165.70 and a 200 day simple moving average of $151.11. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $2.70 trillion, a price-to-earnings ratio of 29.13, a PEG ratio of 2.34 and a beta of 1.29. Apple Inc. has a one year low of $124.17 and a one year high of $176.39.

Apple (NASDAQ:AAPL – Get Rating) last posted its earnings results on Thursday, May 4th. The iPhone maker reported $1.52 EPS 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 during the quarter, compared to the consensus estimate of $92.84 billion. During the same quarter last year, the company earned $1.52 EPS. Apple’s revenue was down 2.5% on a year-over-year basis. Sell-side analysts expect that Apple Inc. will post 5.99 EPS for the current year.

Apple declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 4th that permits the company to buyback $90.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Monday, May 15th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, May 12th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.56%. This is a boost from Apple’s previous quarterly dividend of $0.23. Apple’s dividend payout ratio (DPR) is 16.30%.

Insider Activity at Apple

In other Apple news, COO Jeffrey E. Williams sold 187,730 shares of Apple stock in a transaction 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 completion of the transaction, the chief operating officer now owns 489,816 shares in the company, valued at approximately $78,253,004.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Deirdre O’brien sold 43,622 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $165.41, for a total transaction of $7,215,515.02. Following the transaction, the senior vice president now directly owns 136,444 shares in the company, valued at $22,569,202.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 187,730 shares of the company’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 transaction of $29,991,744.80. Following the transaction, the chief operating officer now owns 489,816 shares in the company, valued at $78,253,004.16. The disclosure for this sale can be found here. Insiders sold 439,529 shares of company stock valued at $71,703,657 in the last ninety days. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. KeyCorp increased their price objective on Apple from $177.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, May 5th. Monness Crespi & Hardt increased their target price on shares of Apple from $174.00 to $188.00 and gave the company a “buy” rating in a research report on Friday, May 5th. Bank of America increased their target price on shares of Apple from $173.00 to $176.00 and gave the company a “neutral” rating in a research report on Friday, May 5th. The Goldman Sachs Group assumed coverage on shares of Apple in a research report on Sunday, March 5th. They issued a “buy” rating and a $199.00 target price for the company. Finally, Morgan Stanley increased their price target on Apple from $180.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $174.74.

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.