Apple Inc. (NASDAQ:AAPL) Position Lessened by Country Club Bank GFN

Country Club Bank GFN lessened its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 161,827 shares of the iPhone maker’s stock after selling 3,720 shares during the period. Apple accounts for approximately 1.8% of Country Club Bank GFN’s portfolio, making the stock its 9th largest holding. Country Club Bank GFN’s holdings in Apple were worth $21,026,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Robinson Value Management Ltd. bought a new stake in shares of Apple in the third quarter worth about $28,000. Hanseatic Management Services Inc. boosted its position 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 acquiring an additional 107 shares in the last quarter. Cheyne Capital Management UK LLP boosted its position in Apple by 200.0% during the 3rd quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock valued at $212,000 after acquiring an additional 550 shares in the last quarter. Align Wealth Management LLC bought a new stake in Apple during the 4th quarter valued at approximately $55,000. Finally, HBC Financial Services PLLC boosted its position 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 acquiring an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 57.60% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of analyst reports. Loop Capital cut Apple from a “buy” rating to a “hold” rating and set a $180.00 price target on the stock. in a research report on Monday. Barclays boosted their price target on Apple from $145.00 to $149.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 26th. Raymond James dropped their price target on Apple from $185.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, February 3rd. Credit Suisse Group boosted their price objective 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, UBS Group set a $180.00 price objective on shares of Apple in a report on Monday, April 3rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $174.74.

Insider Activity

In other news, SVP Deirdre O’brien sold 43,622 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Timothy D. Cook sold 56,072 shares of the stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $165.17, for a total transaction of $9,261,412.24. Following the transaction, the chief executive officer now directly owns 3,280,052 shares in the company, valued at $541,766,188.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Deirdre O’brien sold 43,622 shares of the firm’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 completion of the sale, the senior vice president now owns 136,444 shares of the company’s stock, valued at $22,569,202.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 439,529 shares of company stock worth $71,703,657. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

Apple stock opened at $172.99 on Friday. The firm has a market capitalization of $2.72 trillion, a P/E ratio of 29.37, a price-to-earnings-growth ratio of 2.29 and a beta of 1.29. The company’s 50-day moving average is $166.42 and its 200 day moving average is $151.40. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $176.39. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.94 and a quick ratio of 0.88.

Apple (NASDAQ:AAPL – Get Rating) last issued its earnings results on Thursday, May 4th. The iPhone maker reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.08. The business 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 company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the company posted $1.52 earnings per share. Research analysts forecast that Apple Inc. will post 5.99 EPS 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 paid a dividend of $0.24 per share. 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 currently 16.30%.

Apple announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 4th that permits the company to repurchase $90.00 billion in shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership 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.