Schnieders Capital Management LLC Has $34.91 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Schnieders Capital Management LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 10.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 181,319 shares of the iPhone maker’s stock after selling 21,540 shares during the period. Apple comprises 7.7% of Schnieders Capital Management LLC’s portfolio, making the stock its 2nd largest holding. Schnieders Capital Management LLC’s holdings in Apple were worth $34,909,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Wyrmwood Management LLC raised its position in shares of Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after acquiring an additional 69 shares during the last quarter. Gilfoyle & Co LLC increased its position in Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares during the period. PayPay Securities Corp increased its position in Apple by 70.2% in the third quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after purchasing an additional 210 shares during the period. Cordant Inc. raised its holdings in Apple by 27.7% during the 3rd quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock worth $110,000 after purchasing an additional 140 shares during the last quarter. Finally, Friedenthal Financial acquired a new position in Apple during the 4th quarter valued at about $111,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AAPL has been the subject of a number of recent research reports. Canaccord Genuity Group boosted their price target on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Saturday, May 4th. Wedbush upped their target price on shares of Apple from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday. Canaccord Genuity Group raised their price target on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Loop Capital dropped their price objective on Apple from $185.00 to $170.00 and set a “hold” rating for the company in a report on Monday, April 1st. Finally, Robert W. Baird increased their target price on Apple from $186.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $205.44.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,999 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total value of $951,809.60. Following the completion of the transaction, the insider now directly owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the sale, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the transaction, the insider now owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The disclosure for this sale can be found here. Insiders have sold a total of 371,270 shares of company stock worth $64,605,696 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of AAPL opened at $189.98 on Friday. The stock has a market capitalization of $2.91 trillion, a price-to-earnings ratio of 29.55, a PEG ratio of 2.28 and a beta of 1.26. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $199.62. The firm has a fifty day simple moving average of $175.89 and a 200 day simple moving average of $183.04. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The company had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.52 EPS. Research analysts forecast that Apple Inc. will post 6.57 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were given a dividend of $0.25 per share. This is a positive change from Apple’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, May 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.53%. Apple’s payout ratio is 15.55%.

Apple declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Apple Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.