Newman Dignan & Sheerar Inc. Sells 1,461 Shares of Apple Inc. (NASDAQ:AAPL)

Newman Dignan & Sheerar Inc. cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 72,068 shares of the iPhone maker’s stock after selling 1,461 shares during the quarter. Apple accounts for about 4.6% of Newman Dignan & Sheerar Inc.’s portfolio, making the stock its 3rd biggest holding. Newman Dignan & Sheerar Inc.’s holdings in Apple were worth $18,047,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC increased its position in shares of Apple by 20,372.7% in the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after acquiring an additional 93,886,664 shares during the last quarter. State Street Corp grew its stake in Apple by 10.6% in the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock valued at $136,074,372,000 after purchasing an additional 55,935,105 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Apple by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock worth $77,542,863,000 after purchasing an additional 20,483,787 shares during the last quarter. FMR LLC raised its stake in shares of Apple by 5.3% during the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after purchasing an additional 18,224,005 shares in the last quarter. Finally, Strategic Financial Concepts LLC boosted its holdings in shares of Apple by 25,285.2% in the 4th quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker’s stock valued at $2,411,260,000 after buying an additional 9,590,933 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AAPL. Wedbush dropped their price target on shares of Apple from $325.00 to $250.00 and set an “outperform” rating on the stock in a research report on Monday, April 7th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a report on Wednesday, February 19th. Redburn Partners set a $230.00 price target on Apple in a report on Friday, January 31st. KeyCorp upgraded Apple from an “underweight” rating to a “sector weight” rating in a research note on Monday, April 14th. Finally, Argus upgraded Apple to a “strong-buy” rating in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average price target of $235.85.

Apple Price Performance

Apple stock opened at $196.79 on Monday. The company has a market capitalization of $2.96 trillion, a PE ratio of 31.24, a P/E/G ratio of 2.44 and a beta of 1.26. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock has a 50-day moving average price of $219.65 and a two-hundred day moving average price of $230.13. Apple Inc. has a 12 month low of $164.77 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping 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%. Analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.51%. The ex-dividend date was Monday, February 10th. Apple’s payout ratio is presently 15.87%.

Insider Buying and Selling

In other Apple news, SVP Katherine L. Adams sold 38,822 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the transaction, the senior vice president now owns 179,158 shares in the company, valued at approximately $40,072,269.86. This trade represents a 17.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 108,136 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the sale, the chief executive officer now directly owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This represents a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 182,451 shares of company stock valued at $40,818,720 over the last ninety days. 0.06% of the stock is owned by company insiders.

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.