Apple Inc. (NASDAQ:AAPL) is Prudent Man Advisors LLC’s 8th Largest Position

Prudent Man Advisors LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 5.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,453 shares of the iPhone maker’s stock after selling 1,514 shares during the period. Apple accounts for 2.0% of Prudent Man Advisors LLC’s investment portfolio, making the stock its 8th biggest position. Prudent Man Advisors LLC’s holdings in Apple were worth $5,377,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Conservest Capital Advisors Inc. grew its holdings in shares of Apple by 0.3% during the third quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock valued at $2,877,000 after purchasing an additional 55 shares during the last quarter. Flagstone Financial Management grew its holdings in Apple by 0.9% in the 4th quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock worth $1,173,000 after buying an additional 56 shares in the last quarter. High Pines Wealth Management LLC grew its holdings in Apple by 0.7% in the 4th quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock worth $1,638,000 after buying an additional 58 shares in the last quarter. Asset Planning Corporation grew its holdings in Apple by 1.0% in the 4th quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock worth $1,181,000 after buying an additional 59 shares in the last quarter. Finally, Columbus Macro LLC grew its holdings in Apple by 0.5% in the 4th quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock worth $2,120,000 after buying an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $193.12 on Tuesday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $199.62. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The company has a market cap of $2.96 trillion, a P/E ratio of 30.03, a price-to-earnings-growth ratio of 2.40 and a beta of 1.25. The company’s fifty day moving average is $180.37 and its two-hundred day moving average is $183.39.

Apple (NASDAQ:AAPLGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The business had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. During the same period in the prior year, the business posted $1.52 earnings per share. Apple’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities analysts expect that Apple Inc. will post 6.57 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 10th. This is an increase from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.52%. Apple’s dividend payout ratio is 15.55%.

Apple declared that its board has approved a stock buyback program on Thursday, May 2nd that allows the company to buyback $110.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AAPL shares. Wedbush increased their price objective on Apple from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Itau BBA Securities raised Apple from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $162.00 to $188.00 in a report on Friday, May 3rd. Loop Capital cut their target price on Apple from $185.00 to $170.00 and set a “hold” rating for the company in a research report on Monday, April 1st. UBS Group restated a “hold” rating and issued a $190.00 target price on shares of Apple in a research report on Monday, March 25th. Finally, Canaccord Genuity Group upped their target price on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.59.

Read Our Latest Analysis on Apple

Insider Transactions at Apple

In other news, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the transaction, the director now directly owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Arthur D. Levinson sold 75,000 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the transaction, the director now directly owns 4,359,576 shares in the company, valued at $835,207,570.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 346,270 shares of company stock valued at $60,880,196. 0.06% of the stock is owned by insiders.

Apple 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)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.