Apple Inc. (NASDAQ:AAPL) is Curbstone Financial Management Corp’s 8th Largest Position

Curbstone Financial Management Corp cut its stake in Apple Inc. (NASDAQ:AAPL) by 2.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 71,280 shares of the iPhone maker’s stock after selling 2,000 shares during the period. Apple makes up 2.6% of Curbstone Financial Management Corp’s investment portfolio, making the stock its 8th largest position. Curbstone Financial Management Corp’s holdings in Apple were worth $12,223,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of AAPL. Hartford Funds Management Co LLC boosted its position in shares of Apple by 6.7% in the third quarter. Hartford Funds Management Co LLC now owns 12,693 shares of the iPhone maker’s stock worth $2,173,000 after buying an additional 796 shares during the period. Lincoln Capital Corp boosted its holdings in Apple by 0.5% in the 3rd quarter. Lincoln Capital Corp now owns 55,586 shares of the iPhone maker’s stock worth $9,517,000 after acquiring an additional 277 shares during the period. West Coast Financial LLC grew its position in Apple by 1.1% in the third quarter. West Coast Financial LLC now owns 150,997 shares of the iPhone maker’s stock valued at $25,852,000 after acquiring an additional 1,616 shares in the last quarter. Opes Wealth Management LLC raised its stake in shares of Apple by 2.5% during the third quarter. Opes Wealth Management LLC now owns 323,629 shares of the iPhone maker’s stock valued at $55,409,000 after purchasing an additional 7,774 shares during the period. Finally, Machina Capital S.A.S. purchased a new position in shares of Apple in the third quarter valued at $831,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of recent analyst reports. Bank of America reiterated a “buy” rating and issued a $230.00 price objective on shares of Apple in a report on Wednesday, June 12th. Erste Group Bank upgraded Apple from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Itau BBA Securities upgraded shares of Apple from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $162.00 to $188.00 in a research note on Friday, May 3rd. Sanford C. Bernstein upped their target price on shares of Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday. Finally, UBS Group restated a “neutral” rating and set a $190.00 price objective on shares of Apple in a research note on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $209.38.

Apple Trading Down 1.0 %

Shares of NASDAQ:AAPL opened at $207.49 on Friday. The stock has a market capitalization of $3.18 trillion, a price-to-earnings ratio of 32.27, a PEG ratio of 2.61 and a beta of 1.25. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $220.20. The company has a 50 day moving average price of $187.87 and a 200 day moving average price of $184.87. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The business had revenue of $90.75 billion for the quarter, compared to analysts’ expectations of $90.37 billion. During the same period in the previous year, the firm posted $1.52 EPS. The company’s quarterly revenue was down 4.3% on a year-over-year basis. On average, research analysts anticipate that Apple Inc. will post 6.58 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.48%. This is a boost from Apple’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, May 10th. Apple’s dividend payout ratio (DPR) is presently 15.55%.

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

Insider Transactions at Apple

In other Apple news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the transaction, the director now directly owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the transaction, the director now owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total transaction of $951,809.60. Following the sale, the insider now directly owns 29,278 shares of the company’s stock, valued at approximately $5,574,531.20. The disclosure for this sale can be found here. Insiders have sold a total of 346,270 shares of company stock valued at $60,880,196 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

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.