Newman Dignan & Sheerar Inc. Lowers Holdings in Apple Inc. (NASDAQ:AAPL)

Newman Dignan & Sheerar Inc. decreased its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 72,068 shares of the iPhone maker's stock after selling 1,461 shares during the period. Apple comprises about 4.6% of Newman Dignan & Sheerar Inc.'s holdings, making the stock its 3rd largest position. Newman Dignan & Sheerar Inc.'s holdings in Apple were worth $18,047,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of AAPL. Drystone LLC purchased a new stake in Apple in the 4th quarter worth about $25,000. Bull Oak Capital LLC grew its stake in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock valued at $36,000 after buying an additional 111 shares in the last quarter. SPX Gestao de Recursos Ltda bought a new stake in Apple during the 3rd quarter valued at $71,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Apple during the third quarter worth $77,000. Finally, ARK Investment Management LLC bought a new position in shares of Apple in the third quarter worth $110,000. Institutional investors own 67.73% of the company's stock.

Apple Trading Up 2.4 %

Shares of AAPL traded up $4.81 during mid-day trading on Wednesday, hitting $204.55. 34,471,686 shares of the company's stock traded hands, compared to its average volume of 56,718,514. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $3.07 trillion, a P/E ratio of 32.47, a PEG ratio of 2.44 and a beta of 1.26. The business's 50-day moving average price is $217.94 and its 200-day moving average price is $229.69. Apple Inc. has a 1 year low of $164.92 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. As a group, sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, February 10th. Apple's dividend payout ratio is currently 15.87%.

Insider Activity

In related news, SVP Katherine L. Adams sold 38,822 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the transaction, the senior vice president now owns 179,158 shares in the company, valued at $40,072,269.86. The trade was a 17.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the sale, the chief operating officer now owns 390,059 shares in the company, valued at approximately $87,377,116.59. The trade was a 8.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 182,451 shares of company stock worth $40,818,720. Corporate insiders own 0.06% of the company's stock.

Analyst Ratings Changes

AAPL has been the topic of several analyst reports. Tigress Financial upped their price target on Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a research report on Thursday, April 3rd. Maxim Group increased their target price on shares of Apple to $215.00 and gave the stock a "hold" rating in a research note on Friday, February 21st. Bank of America reduced their price target on shares of Apple from $265.00 to $250.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Citigroup dropped their price objective on Apple from $275.00 to $245.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Wedbush decreased their target price on Apple from $325.00 to $250.00 and set an "outperform" rating on the stock in a research note on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and an average target price of $234.17.

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.