Family Firm Inc. Cuts Position in Apple Inc. (NASDAQ:AAPL)

Family Firm Inc. lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 15.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 7,437 shares of the iPhone maker’s stock after selling 1,387 shares during the period. Family Firm Inc.’s holdings in Apple were worth $1,173,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Kiley Juergens Wealth Management LLC raised its stake in shares of Apple by 1.1% in the 4th quarter. Kiley Juergens Wealth Management LLC now owns 44,530 shares of the iPhone maker’s stock valued at $7,024,000 after acquiring an additional 494 shares during the period. Rothschild & Co. Asset Management US Inc. raised its stake in shares of Apple by 9.0% in the third quarter. Rothschild & Co. Asset Management US Inc. now owns 304,348 shares of the iPhone maker’s stock worth $68,704,000 after purchasing an additional 25,092 shares during the last quarter. Newman Dignan & Sheerar Inc. raised its stake in shares of Apple by 5.2% in the third quarter. Newman Dignan & Sheerar Inc. now owns 23,123 shares of the iPhone maker’s stock worth $5,186,000 after purchasing an additional 1,142 shares during the last quarter. CKW Financial Group raised its stake in shares of Apple by 15.0% in the fourth quarter. CKW Financial Group now owns 807 shares of the iPhone maker’s stock worth $127,000 after purchasing an additional 105 shares during the last quarter. Finally, Dundas Partners LLP raised its stake in shares of Apple by 28.0% in the third quarter. Dundas Partners LLP now owns 43,775 shares of the iPhone maker’s stock worth $12,083,000 after purchasing an additional 9,585 shares during the last quarter. Institutional investors and hedge funds own 58.54% of the company’s stock.

NASDAQ:AAPL traded up $4.23 during midday trading on Wednesday, hitting $199.80. The stock had a trading volume of 23,139,254 shares, compared to its average volume of 30,003,123. Apple Inc. has a one year low of $142.00 and a one year high of $233.47. The stock has a market capitalization of $913.68 billion, a P/E ratio of 16.78, a price-to-earnings-growth ratio of 1.68 and a beta of 1.20. The company’s 50-day simple moving average is $189.25. The company has a quick ratio of 1.26, a current ratio of 1.32 and a debt-to-equity ratio of 0.85.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, April 30th. The iPhone maker reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.09. Apple had a return on equity of 51.29% and a net margin of 22.12%. The company had revenue of $58.02 billion for the quarter, compared to analysts’ expectations of $57.40 billion. During the same quarter in the prior year, the firm earned $2.73 earnings per share. Apple’s revenue was down 5.1% compared to the same quarter last year. As a group, research analysts predict that Apple Inc. will post 11.47 EPS for the current year.

Apple announced that its board has authorized a share 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 buy up to 7.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

AAPL has been the subject of several recent research reports. Bank of America raised Apple from a “neutral” rating to a “buy” rating and boosted their price target for the company from $180.00 to $210.00 in a report on Monday, March 11th. They noted that the move was a valuation call. Morgan Stanley boosted their price target on Apple from $220.00 to $234.00 and gave the company an “overweight” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. reissued a “buy” rating and set a $230.00 price target on shares of Apple in a report on Monday, April 29th. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $140.00 price objective on shares of Apple in a research note on Tuesday, March 19th. Finally, Wedbush reaffirmed an “outperform” rating on shares of Apple in a research note on Tuesday, March 12th. Three analysts have rated the stock with a sell rating, twenty-three have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $208.27.

In other Apple news, insider Luca Maestri sold 51,138 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $196.61, for a total transaction of $10,054,242.18. Following the sale, the insider now owns 27,448 shares of the company’s stock, valued at approximately $5,396,551.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 56,411 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $210.36, for a total value of $11,866,617.96. Following the sale, the chief operating officer now directly owns 151,187 shares in the company, valued at approximately $31,803,697.32. The disclosure for this sale can be found here. Insiders have sold a total of 142,549 shares of company stock worth $29,300,960 in the last ninety days. Insiders own 0.05% of the company’s stock.

Apple Profile

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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