Apple Inc. (NASDAQ:AAPL) Stock Position Decreased by Schoolcraft Capital LLC

Schoolcraft Capital LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 24.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,273 shares of the iPhone maker’s stock after selling 741 shares during the quarter. Schoolcraft Capital LLC’s holdings in Apple were worth $390,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Yeomans Consulting Group Inc. acquired a new stake in shares of Apple in the fourth quarter worth $1,713,000. Raleigh Capital Management Inc. boosted its position in shares of Apple by 11.8% in the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock worth $2,986,000 after buying an additional 1,643 shares during the period. Headinvest LLC boosted its position in shares of Apple by 1.7% in the third quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock worth $9,236,000 after buying an additional 872 shares during the period. GLOBALT Investments LLC GA acquired a new stake in shares of Apple in the fourth quarter worth $38,406,000. Finally, Barden Capital Management Inc. boosted its position in shares of Apple by 132.8% in the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after buying an additional 18,615 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Up 2.9 %

AAPL stock opened at $216.75 on Tuesday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $220.20. The company has a market cap of $3.32 trillion, a PE ratio of 33.71, a price-to-earnings-growth ratio of 2.56 and a beta of 1.24. The business’s 50-day simple moving average is $192.13 and its 200 day simple moving average is $185.31. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share 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 the consensus estimate of $90.37 billion. During the same period last year, the business earned $1.52 earnings per share. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, research analysts anticipate that Apple Inc. will post 6.59 earnings per share for the current year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were given 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 dividend on an annualized basis and a yield of 0.46%. Apple’s dividend payout ratio (DPR) is 15.55%.

Apple announced that its board has authorized a share repurchase plan on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have recently commented on AAPL shares. UBS Group reaffirmed a “neutral” rating and issued a $190.00 target price on shares of Apple in a research report on Monday. Barclays reissued an “underweight” rating and set a $164.00 price objective on shares of Apple in a research report on Tuesday, June 11th. JPMorgan Chase & Co. lifted their price objective on Apple from $225.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, June 18th. Evercore ISI lifted their price objective on Apple from $220.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, June 25th. Finally, Melius Research lifted their price objective on Apple from $227.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, June 24th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $215.71.

Insider Buying and Selling

In related news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the sale, the director now directly owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the sale, the director now directly owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total value of $951,809.60. Following the sale, the insider now directly owns 29,278 shares in the company, valued at $5,574,531.20. The disclosure for this sale can be found here. Insiders have sold a total of 192,355 shares of company stock valued at $34,771,329 over the last three months. 0.06% of the stock is owned by corporate 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.