Apple Inc. (NASDAQ:AAPL) Stock Position Decreased by Skylands Capital LLC

Skylands Capital LLC lessened its position in Apple Inc. (NASDAQ:AAPL) by 4.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 129,530 shares of the iPhone maker’s stock after selling 5,525 shares during the quarter. Apple makes up about 4.2% of Skylands Capital LLC’s portfolio, making the stock its 2nd largest holding. Skylands Capital LLC’s holdings in Apple were worth $28,772,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Conquis Financial LLC acquired a new stake in shares of Apple in the fourth quarter valued at approximately $63,000. LSV Asset Management acquired a new stake in shares of Apple in the fourth quarter valued at approximately $65,000. Pillar Financial Advisors LLC acquired a new stake in shares of Apple in the fourth quarter valued at approximately $82,000. Compass Planning Associates Inc acquired a new stake in shares of Apple in the fourth quarter valued at approximately $96,000. Finally, Sellwood Investment Partners LLC acquired a new stake in shares of Apple in the fourth quarter valued at approximately $147,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Up 1.6%

Shares of Apple stock opened at $233.33 on Thursday. The business has a 50-day moving average of $208.49 and a 200-day moving average of $213.35. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The company has a market capitalization of $3.46 trillion, a PE ratio of 35.41, a P/E/G ratio of 2.40 and a beta of 1.16. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the firm earned $1.40 earnings per share. As a group, equities analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple declared that its Board of Directors has initiated a share buyback program on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 11th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, August 11th. Apple’s dividend payout ratio (DPR) is 15.78%.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the transaction, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $217.00 price target on shares of Apple in a report on Tuesday, July 29th. China Renaissance started coverage on Apple in a research note on Tuesday, April 22nd. They set a “buy” rating and a $241.00 target price for the company. Evercore ISI reissued an “outperform” rating on shares of Apple in a research note on Wednesday. Citigroup raised their target price on Apple from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Finally, Monness Crespi & Hardt lifted their price objective on Apple from $245.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.60.

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.