Apple Inc. (NASDAQ:AAPL) is Affinity Capital Advisors LLC's 4th Largest Position

Affinity Capital Advisors LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 6.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 198,717 shares of the iPhone maker's stock after selling 12,880 shares during the quarter. Apple comprises 7.6% of Affinity Capital Advisors LLC's portfolio, making the stock its 4th biggest holding. Affinity Capital Advisors LLC's holdings in Apple were worth $34,076,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Yeomans Consulting Group Inc. bought a new position in shares of Apple in the fourth quarter valued at about $1,713,000. Raleigh Capital Management Inc. raised its holdings in Apple by 11.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker's stock worth $2,986,000 after purchasing an additional 1,643 shares during the last quarter. Headinvest LLC raised its holdings in Apple by 1.7% during the 3rd quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker's stock worth $9,236,000 after purchasing an additional 872 shares during the last quarter. GLOBALT Investments LLC GA bought a new stake in Apple during the 4th quarter worth about $38,406,000. Finally, Barden Capital Management Inc. raised its holdings in Apple by 132.8% during the 4th quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker's stock worth $6,283,000 after purchasing an additional 18,615 shares during the last quarter. 60.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on AAPL. Evercore ISI boosted their target price on Apple from $220.00 to $250.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 25th. Maxim Group boosted their target price on Apple from $178.00 to $195.00 and gave the stock a "hold" rating in a research report on Tuesday, June 25th. Bank of America restated a "buy" rating and set a $230.00 target price on shares of Apple in a research report on Wednesday, June 26th. Oppenheimer boosted their target price on Apple from $200.00 to $250.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, DA Davidson upgraded Apple from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $200.00 to $230.00 in a research report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $215.71.

Insider Buying and Selling

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 transaction of $14,368,500.00. Following the transaction, the director now directly owns 4,359,576 shares of the company's stock, valued at approximately $835,207,570.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Jeffrey E. Williams sold 59,162 shares of the business's stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $172.22, for a total value of $10,188,879.64. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $84,378,155.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arthur D. Levinson sold 75,000 shares of the business'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 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 three months, insiders have sold 247,087 shares of company stock valued at $44,016,111. 0.06% of the stock is owned by insiders.

Apple Stock Up 2.9 %

Shares of NASDAQ:AAPL traded up $6.13 during trading on Monday, hitting $216.75. 60,320,268 shares of the company were exchanged, compared to its average volume of 65,195,328. The stock has a market cap of $3.32 trillion, a price-to-earnings ratio of 33.71, a P/E/G ratio of 2.56 and a beta of 1.24. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $220.20. The firm has a fifty day moving average price of $192.13 and a two-hundred day moving average price of $185.31. 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 (NASDAQ:AAPL - Get 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 the consensus estimate of $1.51 by $0.02. The firm had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The business's quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.52 EPS. As a group, research analysts anticipate that Apple Inc. will post 6.59 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, May 10th. This is a positive change from Apple's previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. Apple's payout ratio is presently 15.55%.

Apple announced that its board has initiated a stock buyback plan on Thursday, May 2nd that permits the company to repurchase $110.00 billion in shares. This repurchase authorization permits the iPhone maker to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its stock is 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.