Apple Inc. (NASDAQ:AAPL) Stake Decreased by Evercore Wealth Management LLC

Evercore Wealth Management LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,862,158 shares of the iPhone maker's stock after selling 32,345 shares during the period. Apple makes up about 6.0% of Evercore Wealth Management LLC's investment portfolio, making the stock its largest position. Evercore Wealth Management LLC's holdings in Apple were worth $358,521,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AAPL. Headinvest LLC raised its stake in shares of Apple by 1.7% during the third quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker's stock valued at $9,236,000 after purchasing an additional 872 shares during the period. Sound Income Strategies LLC raised its stake in shares of Apple by 16.1% during the fourth quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker's stock valued at $14,461,000 after purchasing an additional 10,425 shares during the period. DNB Asset Management AS raised its stake in shares of Apple by 6.9% during the fourth quarter. DNB Asset Management AS now owns 4,307,068 shares of the iPhone maker's stock valued at $829,240,000 after purchasing an additional 279,311 shares during the period. Boltwood Capital Management raised its stake in shares of Apple by 2.8% during the fourth quarter. Boltwood Capital Management now owns 37,178 shares of the iPhone maker's stock valued at $7,158,000 after purchasing an additional 1,021 shares during the period. Finally, NewEdge Wealth LLC raised its stake in shares of Apple by 16.2% during the fourth quarter. NewEdge Wealth LLC now owns 808,709 shares of the iPhone maker's stock valued at $155,701,000 after purchasing an additional 112,980 shares during the period. Hedge funds and other institutional investors own 60.41% of the company's stock.

Insider Activity at Apple

In related news, Director Arthur D. Levinson sold 75,000 shares of the business's stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the sale, the director now owns 4,359,576 shares of the company's stock, valued at approximately $835,207,570.08. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP Deirdre O'brien sold 54,732 shares of the business's stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the sale, the senior vice president now directly owns 136,572 shares in the company, valued at approximately $23,068,376.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Arthur D. Levinson sold 75,000 shares of the business's stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the sale, the director now owns 4,359,576 shares of the company's stock, valued at $835,207,570.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 346,270 shares of company stock valued at $60,880,196. 0.06% of the stock is owned by corporate insiders.

Apple Stock Down 1.9 %

NASDAQ:AAPL traded down $3.77 on Monday, hitting $193.12. 97,023,133 shares of the company's stock traded hands, compared to its average volume of 60,429,746. 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 Inc. has a 1 year low of $164.07 and a 1 year high of $199.62. The firm has a 50-day moving average price of $179.90 and a 200-day moving average price of $183.38. The company has a market cap of $2.96 trillion, a PE ratio of 30.40, a price-to-earnings-growth ratio of 2.40 and a beta of 1.25.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. The company had revenue of $90.75 billion for the quarter, compared to analysts' expectations of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The business's revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.52 EPS. Equities analysts anticipate that Apple Inc. will post 6.57 EPS for the current fiscal year.

Apple announced that its board has authorized a stock buyback program on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its shares are undervalued.

Apple Increases Dividend

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on AAPL shares. JPMorgan Chase & Co. boosted their price target on shares of Apple from $210.00 to $225.00 and gave the company an "overweight" rating in a report on Friday, May 3rd. Canaccord Genuity Group boosted their price target on shares of Apple from $200.00 to $215.00 and gave the company a "buy" rating in a report on Saturday, May 4th. DZ Bank restated a "hold" rating and set a $180.00 price objective on shares of Apple in a research note on Thursday, March 28th. Morgan Stanley restated an "overweight" rating and set a $216.00 price objective on shares of Apple in a research note on Tuesday, June 4th. Finally, Needham & Company LLC restated a "buy" rating and set a $220.00 price objective on shares of Apple in a research note on Friday, May 3rd. One research 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, Apple has a consensus rating of "Moderate Buy" and an average price target of $205.59.

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.