Apple Inc. (NASDAQ:AAPL) Shares Sold by Hyperion Partners LLC

Hyperion Partners LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 2.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,550 shares of the iPhone maker’s stock after selling 639 shares during the period. Apple accounts for about 3.2% of Hyperion Partners LLC’s portfolio, making the stock its 10th biggest holding. Hyperion Partners LLC’s holdings in Apple were worth $4,381,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Yeomans Consulting Group Inc. bought a new position in shares of Apple during the fourth quarter worth approximately $1,713,000. Raleigh Capital Management Inc. increased its stake in shares of Apple by 11.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock worth $2,986,000 after purchasing an additional 1,643 shares during the period. Headinvest LLC increased its stake in shares of Apple by 1.7% during the third quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock worth $9,236,000 after purchasing an additional 872 shares during the period. GLOBALT Investments LLC GA bought a new position in shares of Apple during the fourth quarter worth approximately $38,406,000. Finally, Barden Capital Management Inc. increased its stake in shares of Apple by 132.8% during the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after purchasing an additional 18,615 shares during the period. 60.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Apple

In other news, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the transaction, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the completion of the transaction, the insider now directly owns 29,278 shares of the company’s stock, valued at approximately $5,574,531.20. 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 Apple stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the transaction, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 346,270 shares of company stock valued at $60,880,196. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AAPL shares. DZ Bank restated a “hold” rating and set a $180.00 price objective on shares of Apple in a research note on Thursday, March 28th. Morgan Stanley restated an “overweight” rating and set a $216.00 price objective on shares of Apple in a research note on Tuesday, June 11th. Bank of America restated a “buy” rating and set a $230.00 price objective on shares of Apple in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on Apple from $225.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 18th. Finally, Monness Crespi & Hardt restated a “buy” rating and set a $205.00 price objective on shares of Apple in a research note on Thursday, June 6th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $214.29.

Apple Stock Up 2.0 %

Shares of AAPL opened at $213.25 on Thursday. The company has a market capitalization of $3.27 trillion, a PE ratio of 33.16, a PEG ratio of 2.54 and a beta of 1.25. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $220.20. The stock’s 50-day moving average price is $189.37 and its two-hundred day moving average price is $184.94. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24.

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

Apple announced that its Board of Directors has approved a share repurchase plan on Thursday, May 2nd that permits the company to repurchase $110.00 billion in shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 10th. This is an increase from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 0.47%. Apple’s payout ratio is presently 15.55%.

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.