Coerente Capital Management Trims Position in Apple Inc. (NASDAQ:AAPL)

Coerente Capital Management decreased its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 3.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,480 shares of the iPhone maker’s stock after selling 90 shares during the quarter. Coerente Capital Management’s holdings in Apple were worth $433,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Daniels&Tansey LLP boosted its stake in Apple by 1.6% during the 4th quarter. Daniels&Tansey LLP now owns 3,858 shares of the iPhone maker’s stock valued at $685,000 after acquiring an additional 60 shares during the last quarter. Donald L. Hagan LLC lifted its position in shares of Apple by 0.3% in the 1st quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock worth $3,181,000 after buying an additional 61 shares during the last quarter. Goodwin Daniel L lifted its position in shares of Apple by 0.5% in the 1st quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock worth $2,230,000 after buying an additional 62 shares during the last quarter. Hanlon Investment Management Inc. lifted its position in shares of Apple by 0.7% in the 4th quarter. Hanlon Investment Management Inc. now owns 10,124 shares of the iPhone maker’s stock worth $1,798,000 after buying an additional 66 shares during the last quarter. Finally, Investors Research Corp lifted its position in shares of Apple by 0.4% in the 1st quarter. Investors Research Corp now owns 16,117 shares of the iPhone maker’s stock worth $2,814,000 after buying an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.

Apple Stock Performance

Shares of AAPL opened at $155.35 on Friday. Apple Inc. has a one year low of $129.04 and a one year high of $182.94. The company has a 50-day moving average of $142.76 and a two-hundred day moving average of $158.20. The stock has a market cap of $2.51 trillion, a price-to-earnings ratio of 25.22, a PEG ratio of 1.96 and a beta of 1.19. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.88.

Apple (NASDAQ:AAPLGet Rating) last announced its earnings results on Thursday, April 28th. The iPhone maker reported $1.52 EPS for the quarter, topping the consensus estimate of $1.43 by $0.09. Apple had a net margin of 26.41% and a return on equity of 152.88%. The company had revenue of $97.28 billion during the quarter, compared to analysts’ expectations of $93.99 billion. During the same period last year, the company posted $1.40 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities research analysts expect that Apple Inc. will post 6.09 earnings per share for the current year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Investors of record on Monday, May 9th were issued a dividend of $0.23 per share. This is a boost from Apple’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Friday, May 6th. Apple’s dividend payout ratio (DPR) is currently 14.94%.

Apple announced that its board has initiated a share buyback plan on Thursday, April 28th that allows the company to repurchase $90.00 billion in shares. This repurchase authorization allows the iPhone maker to purchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AAPL shares. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Apple from $200.00 to $175.00 in a research report on Tuesday, June 14th. Credit Suisse Group set a $169.00 price target on shares of Apple in a research report on Friday, April 29th. Citigroup reduced their price target on shares of Apple from $200.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, July 13th. UBS Group set a $185.00 price objective on shares of Apple in a research report on Thursday. Finally, Deutsche Bank Rese… set a $210.00 price objective on shares of Apple in a research report on Friday, April 8th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $182.73.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the completion of the sale, the senior vice president now directly owns 452,334 shares in the company, valued at $73,151,454.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Apple Company Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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