Apple Inc. (NASDAQ:AAPL) Stock Position Trimmed by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC lessened its stake in Apple Inc. (NASDAQ:AAPLFree Report) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 227,761 shares of the iPhone maker’s stock after selling 6,542 shares during the quarter. Apple accounts for about 5.0% of MainStreet Investment Advisors LLC’s portfolio, making the stock its 4th largest holding. MainStreet Investment Advisors LLC’s holdings in Apple were worth $43,851,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Wyrmwood Management LLC lifted its holdings in shares of Apple by 69.0% in the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after buying an additional 69 shares during the period. Gilfoyle & Co LLC lifted its holdings in shares of Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after buying an additional 118 shares during the period. PayPay Securities Corp lifted its holdings in shares of Apple by 70.2% in the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock valued at $87,000 after buying an additional 210 shares during the period. Cordant Inc. lifted its holdings in shares of Apple by 27.7% in the 3rd quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock valued at $110,000 after buying an additional 140 shares during the period. Finally, Friedenthal Financial acquired a new position in shares of Apple in the 4th quarter valued at about $111,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction dated Wednesday, May 15th. The stock was 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 approximately $5,574,531.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Apple news, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction dated Wednesday, May 15th. The stock was 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 approximately $5,574,531.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the transaction, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 346,270 shares of company stock worth $60,880,196. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

AAPL has been the subject of a number of analyst reports. Loop Capital reduced their price target on Apple from $185.00 to $170.00 and set a “hold” rating for the company in a report on Monday, April 1st. Canaccord Genuity Group upped their price target on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Tigress Financial upped their price target on Apple from $240.00 to $245.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 30th. Barclays upped their price target on Apple from $158.00 to $164.00 and gave the stock an “underweight” rating in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. upped their price target on Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $205.59.

Read Our Latest Report on Apple

Apple Stock Down 0.7 %

Shares of AAPL opened at $194.48 on Friday. The firm has a market cap of $2.98 trillion, a P/E ratio of 30.25, a price-to-earnings-growth ratio of 2.37 and a beta of 1.25. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $199.62. The company’s 50-day moving average price is $179.40 and its 200 day moving average price is $183.45. 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:AAPLGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.02. The firm had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. Apple’s revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.52 EPS. On average, sell-side analysts forecast that Apple Inc. will post 6.57 earnings per share for the current year.

Apple declared that its Board of Directors has approved a share buyback program on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were issued a $0.25 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Friday, May 10th. Apple’s payout ratio is 15.55%.

Apple Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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