D L Carlson Investment Group Inc. Has $22.38 Million Stake in Apple Inc. (NASDAQ:AAPL)

D L Carlson Investment Group Inc. trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 22.9% during the fourth quarter, HoldingsChannel reports. The firm owned 121,708 shares of the iPhone maker’s stock after selling 36,139 shares during the quarter. Apple accounts for about 4.7% of D L Carlson Investment Group Inc.’s investment portfolio, making the stock its 4th biggest holding. D L Carlson Investment Group Inc.’s holdings in Apple were worth $22,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AlphaMark Advisors LLC raised its stake in Apple by 4.9% in the 3rd quarter. AlphaMark Advisors LLC now owns 12,562 shares of the iPhone maker’s stock valued at $2,151,000 after acquiring an additional 590 shares during the period. Lorne Steinberg Wealth Management Inc. grew its stake in Apple by 1.7% in the 3rd quarter. Lorne Steinberg Wealth Management Inc. now owns 21,417 shares of the iPhone maker’s stock valued at $3,667,000 after buying an additional 348 shares in the last quarter. Triumph Capital Management raised its holdings in Apple by 54.9% during the 3rd quarter. Triumph Capital Management now owns 11,655 shares of the iPhone maker’s stock valued at $1,995,000 after acquiring an additional 4,133 shares during the period. Physicians Financial Services Inc. boosted its holdings in shares of Apple by 1.2% in the third quarter. Physicians Financial Services Inc. now owns 212,711 shares of the iPhone maker’s stock worth $36,418,000 after acquiring an additional 2,596 shares during the period. Finally, Manhattan West Asset Management LLC grew its position in shares of Apple by 6.0% in the third quarter. Manhattan West Asset Management LLC now owns 69,465 shares of the iPhone maker’s stock valued at $12,017,000 after purchasing an additional 3,934 shares in the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Down 0.9 %

NASDAQ AAPL traded down $1.87 during trading hours on Friday, reaching $212.37. 45,055,551 shares of the company’s stock traded hands, compared to its average volume of 62,798,461. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. The firm has a 50-day simple moving average of $182.91 and a 200 day simple moving average of $183.93. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $220.20. The firm has a market cap of $3.26 trillion, a PE ratio of 33.07, a PEG ratio of 2.59 and a beta of 1.25.

Apple (NASDAQ:AAPLGet Free Report) last issued its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, beating the consensus estimate of $1.51 by $0.02. The business 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 company’s revenue was down 4.3% compared to the same quarter last year. During the same period last year, the business posted $1.52 EPS. Sell-side analysts anticipate that Apple Inc. will post 6.58 EPS for the current fiscal year.

Apple declared that its board has approved a share buyback program on Thursday, May 2nd that allows the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are 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 paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.00 annualized dividend and a yield of 0.47%. This is a boost from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio is currently 15.55%.

Insider Transactions at Apple

In other news, Director Arthur D. Levinson sold 75,000 shares of the stock in a transaction 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 transaction, the director now directly owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Apple news, insider Chris Kondo sold 4,999 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total transaction of $951,809.60. Following the completion of the sale, the insider now owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arthur D. Levinson sold 75,000 shares of the firm’s 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 owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. Insiders sold 346,270 shares of company stock worth $60,880,196 over the last three months. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on AAPL shares. Citigroup reduced their target price on Apple from $220.00 to $210.00 and set a “buy” rating for the company in a report on Monday, April 29th. DZ Bank reiterated a “hold” rating and issued a $180.00 target price on shares of Apple in a research note on Thursday, March 28th. Loop Capital dropped their price objective on Apple from $185.00 to $170.00 and set a “hold” rating for the company in a research note on Monday, April 1st. UBS Group restated a “neutral” rating and issued a $190.00 target price on shares of Apple in a research note on Tuesday. Finally, Tigress Financial upped their price objective on shares of Apple from $240.00 to $245.00 and gave the stock a “strong-buy” rating in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $207.47.

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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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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