Apple Inc. (NASDAQ:AAPL) Stock Holdings Lowered by Enclave Advisors LLC

Enclave Advisors LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 10.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,411 shares of the iPhone maker’s stock after selling 4,887 shares during the period. Apple comprises approximately 1.6% of Enclave Advisors LLC’s investment portfolio, making the stock its 18th biggest position. Enclave Advisors LLC’s holdings in Apple were worth $9,643,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Apple in the 4th quarter worth approximately $46,868,648,000. GAMMA Investing LLC increased its stake in shares of Apple by 25,934.1% in the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock worth $133,425,490,000 after acquiring an additional 59,835,676 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Apple by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker’s stock worth $349,532,608,000 after acquiring an additional 49,168,843 shares in the last quarter. Proficio Capital Partners LLC boosted its position in Apple by 23,555.4% during the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker’s stock valued at $5,272,653,000 after purchasing an additional 20,966,232 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after purchasing an additional 20,079,472 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of several research reports. KeyCorp upgraded Apple from an “underweight” rating to a “sector weight” rating in a report on Monday, April 14th. Monness Crespi & Hardt boosted their target price on shares of Apple to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, June 10th. Needham & Company LLC restated a “hold” rating on shares of Apple in a report on Tuesday, June 10th. DA Davidson upped their price objective on shares of Apple from $230.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Finally, UBS Group set a $210.00 target price on shares of Apple and gave the stock a “neutral” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $234.95.

Apple Trading Up 0.4%

Shares of Apple stock opened at $213.36 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a market capitalization of $3.19 trillion, a price-to-earnings ratio of 33.23, a PEG ratio of 2.37 and a beta of 1.20. The firm’s 50-day moving average price is $203.26 and its two-hundred day moving average price is $219.14.

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. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same quarter last year, the business posted $1.53 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a $0.26 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. Apple’s dividend payout ratio (DPR) is presently 16.20%.

Apple declared that its board has initiated a stock buyback plan on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Apple

In related news, CFO Kevan Parekh sold 4,570 shares of the firm’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the sale, the chief financial officer directly owned 4,569 shares of the company’s stock, valued at $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 4,486 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider owned 15,533 shares of the company’s stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

About Apple

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.