M&R Capital Management Inc. Has $29.15 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

M&R Capital Management Inc. decreased its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 8.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 169,877 shares of the iPhone maker's stock after selling 15,300 shares during the period. Apple comprises 7.1% of M&R Capital Management Inc.'s portfolio, making the stock its 2nd largest holding. M&R Capital Management Inc.'s holdings in Apple were worth $29,149,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AAPL. Vanguard Group Inc. boosted its position in shares of Apple by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker's stock worth $253,766,929,000 after purchasing an additional 18,067,216 shares during the period. Morgan Stanley boosted its holdings in Apple by 1.0% in the 3rd quarter. Morgan Stanley now owns 206,732,960 shares of the iPhone maker's stock worth $35,394,751,000 after buying an additional 2,018,010 shares during the period. Norges Bank purchased a new stake in Apple in the 4th quarter worth $33,912,466,000. International Assets Investment Management LLC raised its holdings in Apple by 14,395.4% during the fourth quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker's stock valued at $136,119,470,000 after acquiring an additional 70,212,651 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of Apple by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker's stock valued at $11,677,190,000 after acquiring an additional 2,096,360 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company's stock.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,999 shares of the business's stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total transaction of $951,809.60. Following the completion of the transaction, the insider now owns 29,278 shares in the company, valued at approximately $5,574,531.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the company's stock in a transaction that occurred 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 owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total transaction of $951,809.60. Following the sale, the insider now owns 29,278 shares of the company's stock, valued at $5,574,531.20. The disclosure for this sale can be found here. Insiders sold 346,270 shares of company stock worth $60,880,196 in the last three months. 0.06% of the stock is owned by insiders.

Apple Stock Down 1.1 %

NASDAQ:AAPL traded down $2.38 during mid-day trading on Wednesday, reaching $214.29. The company's stock had a trading volume of 79,943,254 shares, compared to its average volume of 68,511,152. The company has a quick ratio of 0.99, a current ratio of 1.04 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 $220.20. The stock has a fifty day moving average of $186.55 and a 200-day moving average of $184.57. The firm has a market capitalization of $3.29 trillion, a PE ratio of 33.33, a price-to-earnings-growth ratio of 2.64 and a beta of 1.25.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.02. The firm had revenue of $90.75 billion during the quarter, compared to analysts' expectations of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. The company's revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.52 EPS. Equities research analysts forecast that Apple Inc. will post 6.58 earnings per share for the current year.

Apple declared that its Board of Directors has authorized a stock buyback program on Thursday, May 2nd that allows the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's management believes its shares are undervalued.

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 given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.47%. This is a positive change from Apple's previous quarterly dividend of $0.24. The ex-dividend date was Friday, May 10th. Apple's payout ratio is presently 15.55%.

Analysts Set New Price Targets

A number of brokerages have issued reports on AAPL. Tigress Financial increased their price objective on shares of Apple from $240.00 to $245.00 and gave the company a "strong-buy" rating in a report on Thursday, May 30th. Bank of America reaffirmed a "buy" rating and set a $230.00 target price on shares of Apple in a research note on Wednesday, June 12th. Canaccord Genuity Group boosted their price target on shares of Apple from $200.00 to $215.00 and gave the stock a "buy" rating in a research note on Friday, May 3rd. DZ Bank restated a "hold" rating and set a $180.00 price objective on shares of Apple in a research report on Thursday, March 28th. Finally, Loop Capital reduced their target price on Apple from $185.00 to $170.00 and set a "hold" rating on the stock in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Apple has an average rating of "Moderate Buy" and an average target price of $208.06.

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.