ST Germain D J Co. Inc. Has $96.62 Million Position in Apple Inc. (NASDAQ:AAPL)

ST Germain D J Co. Inc. lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 563,436 shares of the iPhone maker’s stock after selling 2,084 shares during the period. Apple makes up 4.7% of ST Germain D J Co. Inc.’s holdings, making the stock its 2nd largest position. ST Germain D J Co. Inc.’s holdings in Apple were worth $96,618,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in AAPL. Conservest Capital Advisors Inc. raised its position in shares of Apple by 0.3% in the third quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock valued at $2,877,000 after purchasing an additional 55 shares during the period. Flagstone Financial Management grew its stake in Apple by 0.9% in the 4th quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock valued at $1,173,000 after buying an additional 56 shares during the last quarter. High Pines Wealth Management LLC raised its holdings in Apple by 0.7% in the 4th quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock valued at $1,638,000 after acquiring an additional 58 shares during the period. Asset Planning Corporation boosted its holdings in shares of Apple by 1.0% during the fourth quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock worth $1,181,000 after acquiring an additional 59 shares during the period. Finally, Columbus Macro LLC boosted its holdings in shares of Apple by 0.5% during the fourth quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock worth $2,120,000 after acquiring an additional 59 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wedbush boosted their price target on Apple from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Friday, May 24th. UBS Group restated a “neutral” rating and issued a $190.00 price target on shares of Apple in a research note on Tuesday, June 11th. DZ Bank reiterated a “hold” rating and issued a $180.00 price objective on shares of Apple in a research note on Thursday, March 28th. Sanford C. Bernstein upgraded shares of Apple from a “market perform” rating to an “outperform” rating and set a $195.00 price target for the company in a research report on Monday, April 29th. Finally, Citigroup lowered their price objective on Apple from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $208.06.

Insider Activity at Apple

In other news, SVP Deirdre O’brien sold 54,732 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the transaction, the senior vice president now owns 136,572 shares in the company, valued at approximately $23,068,376.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the transaction, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Deirdre O’brien sold 54,732 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the sale, the senior vice president now owns 136,572 shares in the company, valued at approximately $23,068,376.52. The disclosure for this sale can be found here. Insiders have sold 346,270 shares of company stock worth $60,880,196 over the last ninety days. Insiders own 0.06% of the company’s stock.

Apple Stock Down 1.1 %

NASDAQ:AAPL opened at $214.29 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. Apple Inc. has a one year low of $164.07 and a one year high of $220.20. The firm’s 50 day simple moving average is $186.55 and its 200 day simple moving average is $184.57. The company has a market cap of $3.29 trillion, a PE ratio of 33.33, a P/E/G ratio of 2.64 and a beta of 1.25.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data 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 company had revenue of $90.75 billion for the quarter, compared to analysts’ expectations of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. Apple’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.52 earnings per share. On average, research analysts anticipate that Apple Inc. will post 6.58 earnings per share for the current year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were paid a $0.25 dividend. 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 0.47%. The ex-dividend date of this dividend was Friday, May 10th. Apple’s payout ratio is currently 15.55%.

Apple declared that its board has initiated a share repurchase program on Thursday, May 2nd that allows the company to buyback $110.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to repurchase up to 3.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.