Nicollet Investment Management Inc. lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 54,773 shares of the iPhone maker’s stock after selling 1,030 shares during the quarter. Apple comprises about 10.3% of Nicollet Investment Management Inc.’s investment portfolio, making the stock its biggest position. Nicollet Investment Management Inc.’s holdings in Apple were worth $13,928,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of AAPL. Orser Capital Management LLC boosted its holdings in shares of Apple by 7.2% during the fourth quarter. Orser Capital Management LLC now owns 12,323 shares of the iPhone maker’s stock worth $3,592,000 after purchasing an additional 826 shares during the last quarter. Zhang Financial LLC boosted its holdings in shares of Apple by 13.4% during the fourth quarter. Zhang Financial LLC now owns 16,434 shares of the iPhone maker’s stock worth $4,853,000 after purchasing an additional 1,944 shares during the last quarter. Wealthfront Advisers LLC boosted its holdings in shares of Apple by 8.7% during the fourth quarter. Wealthfront Advisers LLC now owns 226,516 shares of the iPhone maker’s stock worth $66,516,000 after purchasing an additional 18,106 shares during the last quarter. Legacy Advisors LLC boosted its holdings in shares of Apple by 8.5% during the fourth quarter. Legacy Advisors LLC now owns 18,432 shares of the iPhone maker’s stock worth $5,413,000 after purchasing an additional 1,439 shares during the last quarter. Finally, Strategic Wealth Management Group LLC boosted its holdings in shares of Apple by 1.6% during the fourth quarter. Strategic Wealth Management Group LLC now owns 18,489 shares of the iPhone maker’s stock worth $5,429,000 after purchasing an additional 293 shares during the last quarter. Institutional investors and hedge funds own 59.49% of the company’s stock.
Shares of NASDAQ AAPL opened at $318.89 on Friday. The firm has a market cap of $1,373.33 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 2.41 and a beta of 1.17. Apple Inc. has a 1 year low of $170.27 and a 1 year high of $327.85. The stock’s 50-day simple moving average is $285.29 and its 200-day simple moving average is $285.23. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.46 and a current ratio of 1.50.
The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 1.03%. This is an increase from Apple’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Friday, May 8th. Apple’s dividend payout ratio (DPR) is 27.59%.
In other Apple news, SVP Deirdre O’brien sold 9,137 shares of Apple stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $285.12, for a total value of $2,605,141.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,491 shares of Apple stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $305.62, for a total value of $1,372,539.42. Following the completion of the transaction, the insider now owns 7,370 shares of the company’s stock, valued at $2,252,419.40. The disclosure for this sale can be found here. Insiders sold 95,752 shares of company stock valued at $24,750,125 over the last quarter. Insiders own 0.05% of the company’s stock.
AAPL has been the topic of a number of research analyst reports. Maxim Group upgraded Apple from a “sell” rating to a “hold” rating in a report on Wednesday, January 29th. Daiwa Capital Markets lifted their target price on Apple from $297.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Nomura Securities lifted their target price on Apple from $225.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Needham & Company LLC reiterated a “buy” rating and issued a $350.00 target price on shares of Apple in a report on Friday, May 1st. Finally, Cascend Securities reduced their target price on Apple from $350.00 to $325.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-nine have issued a buy rating to the stock. Apple currently has an average rating of “Buy” and a consensus price target of $301.00.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.
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