Full Sail Capital LLC Trims Holdings in Apple Inc. (NASDAQ:AAPL)

Full Sail Capital LLC reduced its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 97,144 shares of the iPhone maker’s stock after selling 1,012 shares during the quarter. Full Sail Capital LLC’s holdings in Apple were worth $12,622,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Cassia Capital Partners LLC boosted its position in shares of Apple by 24.3% during the fourth quarter. Cassia Capital Partners LLC now owns 5,009 shares of the iPhone maker’s stock valued at $651,000 after purchasing an additional 979 shares in the last quarter. Hoxton Planning & Management LLC bought a new stake in shares of Apple during the 4th quarter valued at $3,148,000. Factory Mutual Insurance Co. grew its position in shares of Apple by 5.2% in the 4th quarter. Factory Mutual Insurance Co. now owns 2,340,129 shares of the iPhone maker’s stock worth $304,053,000 after buying an additional 115,929 shares during the period. Blueshift Asset Management LLC bought a new position in shares of Apple in the 3rd quarter worth about $563,000. Finally, Mayflower Financial Advisors LLC lifted its position in Apple by 4.4% during the 4th quarter. Mayflower Financial Advisors LLC now owns 105,200 shares of the iPhone maker’s stock valued at $13,072,000 after acquiring an additional 4,402 shares during the period. 57.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on AAPL shares. Piper Sandler decreased their target price on shares of Apple from $195.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, May 5th. StockNews.com initiated coverage on Apple in a research note on Thursday, May 18th. They set a “hold” rating for the company. Fundamental Research set a $183.86 target price on Apple and gave the stock a “buy” rating in a research note on Wednesday, May 17th. Atlantic Securities lifted their price target on Apple from $180.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, May 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Apple from $175.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, April 19th. Two equities research 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.74.

Insider Activity

In related news, insider Chris Kondo sold 4,092 shares of the company’s stock in a transaction on Monday, May 8th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Luca Maestri sold 69,996 shares of Apple stock in a transaction that occurred on Thursday, April 13th. The stock was sold at an average price of $165.25, for a total value of $11,566,839.00. Following the completion of the transaction, the chief financial officer now owns 107,661 shares in the company, valued at approximately $17,790,980.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 4,092 shares of the stock in a transaction on Monday, May 8th. The shares were sold at an average price of $173.26, for a total value of $708,979.92. Following the sale, the insider now owns 33,946 shares in the company, valued at approximately $5,881,483.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 439,529 shares of company stock worth $71,703,657. 0.06% of the stock is currently owned by insiders.

Apple Stock Down 1.5 %

Shares of AAPL opened at $171.56 on Wednesday. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $176.39. 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 company has a market capitalization of $2.70 trillion, a PE ratio of 29.13, a price-to-earnings-growth ratio of 2.34 and a beta of 1.29. The business’s 50 day moving average is $165.70 and its 200 day moving average is $151.11.

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

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 18th. Shareholders of record on Monday, May 15th were paid a $0.24 dividend. This is an increase from Apple’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, May 12th. This represents a $0.96 dividend on an annualized basis and a yield of 0.56%. Apple’s payout ratio is presently 16.30%.

Apple declared that its board has approved a share repurchase program on Thursday, May 4th that permits the company to buyback $90.00 billion in shares. This buyback authorization permits the iPhone maker to purchase up to 3.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

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.