Apple Inc. (NASDAQ:AAPL) Stock Position Lowered by Chickasaw Capital Management LLC

Chickasaw Capital Management LLC lessened its position in Apple Inc. (NASDAQ:AAPL) by 0.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 130,047 shares of the iPhone maker’s stock after selling 386 shares during the quarter. Apple makes up about 1.1% of Chickasaw Capital Management LLC’s holdings, making the stock its 15th biggest holding. Chickasaw Capital Management LLC’s holdings in Apple were worth $28,887,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Drystone LLC purchased a new stake in Apple in the 4th quarter worth approximately $25,000. Conquis Financial LLC purchased a new stake in Apple in the 4th quarter worth approximately $63,000. LSV Asset Management purchased a new stake in Apple in the 4th quarter worth approximately $65,000. Pillar Financial Advisors LLC purchased a new stake in Apple in the 4th quarter worth approximately $82,000. Finally, Compass Planning Associates Inc purchased a new stake in Apple in the 4th quarter worth approximately $96,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 4,486 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the transaction, the insider now directly owns 15,533 shares of the company’s stock, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 38,822 shares of Apple stock in a transaction dated 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 transaction, the senior vice president now directly owns 179,158 shares of the company’s stock, valued at $40,072,269.86. This represents a 17.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 191,507 shares of company stock valued at $42,694,080. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of a number of research analyst reports. The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a research report on Wednesday, May 21st. UBS Group restated a “buy” rating on shares of Apple in a research note on Sunday, June 1st. Rosenblatt Securities lowered shares of Apple from a “buy” rating to a “neutral” rating and set a $217.00 price target on the stock. in a research note on Friday, May 2nd. Monness Crespi & Hardt increased their price target on shares of Apple to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, June 10th. Finally, DA Davidson increased their price target on shares of Apple from $230.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $234.39.

Apple Stock Performance

NASDAQ AAPL opened at $201.08 on Monday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. The firm has a market capitalization of $3.00 trillion, a price-to-earnings ratio of 31.32, a P/E/G ratio of 2.25 and a beta of 1.22. The company’s fifty day moving average is $202.61 and its two-hundred day moving average is $219.83. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.03. The company had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the business posted $1.53 EPS. Equities research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued 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 was Monday, May 12th. Apple’s dividend payout ratio (DPR) is presently 16.20%.

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.