Apple Inc. (NASDAQ:AAPL) Shares Sold by Trellis Advisors LLC

Trellis Advisors LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,757 shares of the iPhone maker’s stock after selling 228 shares during the period. Apple makes up about 0.8% of Trellis Advisors LLC’s holdings, making the stock its 15th biggest holding. Trellis Advisors LLC’s holdings in Apple were worth $751,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Gradient Capital Advisors LLC raised its stake in shares of Apple by 0.3% in the 4th quarter. Gradient Capital Advisors LLC now owns 25,288 shares of the iPhone maker’s stock valued at $3,989,000 after purchasing an additional 69 shares in the last quarter. Guardian Life Insurance Co. of America raised its stake in Apple by 0.5% during the fourth quarter. Guardian Life Insurance Co. of America now owns 12,997 shares of the iPhone maker’s stock worth $2,050,000 after acquiring an additional 69 shares during the period. Kopp Investment Advisors LLC raised its stake in Apple by 0.9% during the fourth quarter. Kopp Investment Advisors LLC now owns 7,462 shares of the iPhone maker’s stock worth $1,177,000 after acquiring an additional 69 shares during the period. New Potomac Partners LLC raised its stake in Apple by 0.5% during the fourth quarter. New Potomac Partners LLC now owns 14,501 shares of the iPhone maker’s stock worth $2,287,000 after acquiring an additional 70 shares during the period. Finally, Connecticut Wealth Management LLC raised its stake in Apple by 1.0% during the fourth quarter. Connecticut Wealth Management LLC now owns 7,209 shares of the iPhone maker’s stock worth $1,137,000 after acquiring an additional 70 shares during the period. Institutional investors and hedge funds own 58.61% of the company’s stock.

Several research firms recently weighed in on AAPL. JPMorgan Chase & Co. set a $228.00 price objective on shares of Apple and gave the stock a “buy” rating in a research note on Thursday, March 21st. Needham & Company LLC upgraded shares of Apple from a “buy” rating to a “strong-buy” rating and increased their price objective for the stock from $180.00 to $225.00 in a research note on Thursday, March 21st. BidaskClub lowered shares of Apple from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. Sanford C. Bernstein reiterated a “neutral” rating and set a $160.00 price objective on shares of Apple in a research note on Wednesday, March 27th. Finally, Goldman Sachs Group reiterated a “neutral” rating and set a $182.00 price objective on shares of Apple in a research note on Wednesday, April 24th. Three research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $207.57.

In other news, insider Luca Maestri sold 51,138 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $196.61, for a total value of $10,054,242.18. Following the completion of the transaction, the insider now directly owns 27,448 shares in the company, valued at $5,396,551.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arthur D. Levinson sold 35,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $210.86, for a total transaction of $7,380,100.00. Following the completion of the transaction, the director now owns 1,168,283 shares of the company’s stock, valued at $246,344,153.38. The disclosure for this sale can be found here. Insiders sold 142,549 shares of company stock valued at $29,300,960 over the last quarter. Insiders own 0.05% of the company’s stock.

Shares of Apple stock traded down $1.83 on Friday, hitting $192.32. The company had a trading volume of 9,734,045 shares, compared to its average volume of 27,666,054. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.32 and a quick ratio of 1.26. The stock has a market capitalization of $893.48 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 1.64 and a beta of 1.20. Apple Inc. has a 52 week low of $142.00 and a 52 week high of $233.47.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, April 30th. The iPhone maker reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.09. The business had revenue of $58.02 billion during the quarter, compared to analysts’ expectations of $57.40 billion. Apple had a net margin of 22.12% and a return on equity of 51.29%. The business’s revenue was down 5.1% on a year-over-year basis. During the same period last year, the firm posted $2.73 earnings per share. On average, analysts forecast that Apple Inc. will post 11.48 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were issued a $0.77 dividend. The ex-dividend date of this dividend was Friday, May 10th. This is a boost from Apple’s previous quarterly dividend of $0.73. This represents a $3.08 annualized dividend and a dividend yield of 1.60%. Apple’s dividend payout ratio (DPR) is 25.86%.

Apple announced that its Board of Directors has authorized a share buyback program on Tuesday, April 30th that allows the company to buyback $75.00 billion in shares. This buyback authorization allows the iPhone maker to purchase up to 7.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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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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