SRN Advisors LLC Has $788,000 Stock Holdings in Apple Inc. (NASDAQ:AAPL)

SRN Advisors LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 25.0% in the fourth quarter, HoldingsChannel reports. The firm owned 3,147 shares of the iPhone maker’s stock after selling 1,051 shares during the quarter. SRN Advisors LLC’s holdings in Apple were worth $788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Van ECK Associates Corp grew its holdings in Apple by 10.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,121,107 shares of the iPhone maker’s stock valued at $258,707,000 after buying an additional 106,701 shares in the last quarter. Emerald Advisers LLC boosted its position in shares of Apple by 6.1% in the third quarter. Emerald Advisers LLC now owns 30,075 shares of the iPhone maker’s stock valued at $7,007,000 after acquiring an additional 1,735 shares during the period. Angeles Wealth Management LLC grew its stake in shares of Apple by 6.1% in the third quarter. Angeles Wealth Management LLC now owns 127,059 shares of the iPhone maker’s stock valued at $29,605,000 after acquiring an additional 7,308 shares in the last quarter. Nvwm LLC increased its position in Apple by 10.8% during the third quarter. Nvwm LLC now owns 70,475 shares of the iPhone maker’s stock worth $16,421,000 after acquiring an additional 6,852 shares during the period. Finally, BSW Wealth Partners raised its stake in Apple by 2.1% in the 3rd quarter. BSW Wealth Partners now owns 102,798 shares of the iPhone maker’s stock worth $23,952,000 after purchasing an additional 2,134 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AAPL has been the topic of a number of analyst reports. Maxim Group increased their target price on shares of Apple to $215.00 and gave the stock a “hold” rating in a research report on Friday, February 21st. Bank of America reduced their price target on Apple from $250.00 to $240.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group dropped their price objective on Apple from $259.00 to $256.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Evercore ISI increased their target price on Apple from $260.00 to $275.00 and gave the stock an “outperform” rating in a report on Tuesday, March 18th. Finally, Barclays decreased their price target on Apple from $197.00 to $173.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 30th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $235.80.

Insider Buying and Selling

In other Apple news, SVP Katherine L. Adams sold 38,822 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the sale, the senior vice president now owns 179,158 shares of the company’s stock, valued at approximately $40,072,269.86. This represents a 17.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the sale, the chief financial officer now owns 4,569 shares of the company’s stock, valued at approximately $941,214. The trade was a 50.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 187,021 shares of company stock valued at $41,760,140 over the last ninety days. 0.06% of the stock is owned by company insiders.

Apple Trading Up 0.0 %

Shares of NASDAQ AAPL opened at $198.92 on Wednesday. The firm has a 50 day moving average price of $210.55 and a two-hundred day moving average price of $228.13. The stock has a market cap of $2.99 trillion, a P/E ratio of 31.57, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.03. The business had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. Apple’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.53 earnings per share. As a group, equities analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 12th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. This is an increase from Apple’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, May 12th. Apple’s dividend payout ratio (DPR) is 16.20%.

Apple declared that its board has initiated a share repurchase program on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Apple Company 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.