Apple Inc. (NASDAQ:AAPL) Shares Sold by Wynn Capital LLC

Wynn Capital LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 4.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 30,737 shares of the iPhone maker’s stock after selling 1,335 shares during the period. Apple comprises 4.1% of Wynn Capital LLC’s holdings, making the stock its 2nd largest position. Wynn Capital LLC’s holdings in Apple were worth $5,271,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Wyrmwood Management LLC lifted its position in Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after acquiring an additional 69 shares during the last quarter. A.P. Gilfoyle & Co. L.P. acquired a new stake in Apple during the fourth quarter worth approximately $39,000. Gilfoyle & Co LLC lifted its position in Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after acquiring an additional 118 shares during the last quarter. University of Texas Texas AM Investment Managment Co. lifted its position in Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after acquiring an additional 368 shares during the last quarter. Finally, Clarity Asset Management Inc. acquired a new stake in Apple during the fourth quarter worth approximately $85,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AAPL shares. DA Davidson upgraded shares of Apple from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $200.00 to $230.00 in a research report on Tuesday, June 11th. Canaccord Genuity Group raised their price objective on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. UBS Group reaffirmed a “neutral” rating and set a $190.00 target price on shares of Apple in a report on Tuesday, June 11th. Barclays reaffirmed an “underweight” rating and set a $164.00 target price on shares of Apple in a report on Tuesday, June 11th. Finally, Monness Crespi & Hardt reaffirmed a “buy” rating and set a $205.00 target price on shares of Apple in a report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $210.83.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $208.14 on Tuesday. The firm has a market cap of $3.19 trillion, a PE ratio of 32.37, a price-to-earnings-growth ratio of 2.55 and a beta of 1.25. The firm’s fifty day moving average is $188.57 and its 200-day moving average is $184.85. 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 Inc. has a 52 week low of $164.07 and a 52 week high of $220.20.

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

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Friday, May 10th. This is a positive change from Apple’s previous quarterly dividend of $0.24. Apple’s payout ratio is 15.55%.

Apple declared that its board has initiated a stock repurchase plan 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 plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the transaction, the chief executive officer now owns 3,377,407 shares in the company, valued at $574,260,512.21. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction 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 $835,207,570.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 99,183 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the transaction, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 346,270 shares of company stock worth $60,880,196. Company 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.