Stevens First Principles Investment Advisors Lowers Stock Position in Apple Inc. (NASDAQ:AAPL)

Stevens First Principles Investment Advisors lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 7.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,500 shares of the iPhone maker’s stock after selling 455 shares during the period. Stevens First Principles Investment Advisors’ holdings in Apple were worth $1,089,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Founders Capital Management LLC increased its stake in Apple by 164.2% during the 4th quarter. Founders Capital Management LLC now owns 15,120 shares of the iPhone maker’s stock worth $2,385,000 after acquiring an additional 9,396 shares during the period. Strategic Wealth Management Group LLC bought a new position in shares of Apple in the 4th quarter valued at $2,789,000. Highwater Wealth Management LLC bought a new position in shares of Apple in the 4th quarter valued at $421,000. Moller Financial Services increased its stake in shares of Apple by 438.8% in the 4th quarter. Moller Financial Services now owns 5,383 shares of the iPhone maker’s stock valued at $807,000 after purchasing an additional 4,384 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC increased its stake in shares of Apple by 2.3% in the 4th quarter. Douglass Winthrop Advisors LLC now owns 448,745 shares of the iPhone maker’s stock valued at $70,785,000 after purchasing an additional 10,038 shares during the last quarter. 58.65% of the stock is owned by hedge funds and other institutional investors.

In other Apple news, insider Chris Kondo sold 4,376 shares of Apple stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $217.47, for a total transaction of $951,648.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Arthur D. Levinson sold 17,500 shares of Apple stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $214.02, for a total value of $3,745,350.00. Following the transaction, the director now directly owns 1,150,783 shares in the company, valued at $246,290,577.66. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by insiders.

NASDAQ AAPL opened at $200.99 on Friday. The firm has a market cap of $899.50 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 1.67 and a beta of 1.25. Apple Inc. has a twelve month low of $142.00 and a twelve month high of $233.47. The firm’s fifty day moving average price is $203.22. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.47 and a current ratio of 1.50.

Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.10 by $0.08. The firm had revenue of $53.81 billion for the quarter, compared to the consensus estimate of $53.39 billion. Apple had a return on equity of 52.13% and a net margin of 21.50%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.34 EPS. Equities research analysts anticipate that Apple Inc. will post 11.58 EPS for the current year.

Apple declared that its board has authorized a stock buyback program on Tuesday, April 30th that allows the company to repurchase $75.00 billion in shares. This repurchase authorization allows the iPhone maker to purchase up to 7.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, August 12th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Friday, August 9th. Apple’s payout ratio is presently 25.86%.

Several equities analysts have recently issued reports on the company. Raymond James upgraded Apple from a “market perform” rating to an “outperform” rating and set a $250.00 price target on the stock in a research note on Thursday, July 18th. BTIG Research lifted their price target on Apple to $234.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Nomura lifted their price target on Apple from $180.00 to $185.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. New Street Research lowered Apple from a “neutral” rating to a “sell” rating and set a $170.00 price target on the stock. in a research note on Friday, April 12th. Finally, Monness Crespi & Hardt reiterated a “buy” rating and issued a $265.00 price target (up previously from $245.00) on shares of Apple in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a sell rating, twenty have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Apple currently has a consensus rating of “Hold” and a consensus target price of $217.12.

About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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