CHICAGO TRUST Co NA cut its position in Apple Inc. (NASDAQ:AAPL) by 8.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,896 shares of the iPhone maker’s stock after selling 4,818 shares during the period. Apple makes up 3.4% of CHICAGO TRUST Co NA’s portfolio, making the stock its 2nd largest position. CHICAGO TRUST Co NA’s holdings in Apple were worth $7,599,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Apple during the fourth quarter valued at about $5,625,709,000. Asset Management One Co. Ltd. increased its position in shares of Apple by 966.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 9,457,769 shares of the iPhone maker’s stock valued at $1,096,072,000 after buying an additional 8,571,027 shares during the period. State Street Corp increased its position in shares of Apple by 2.0% in the fourth quarter. State Street Corp now owns 219,739,579 shares of the iPhone maker’s stock valued at $25,450,260,000 after buying an additional 4,301,005 shares during the period. Glenview Capital Management LLC acquired a new position in shares of Apple during the fourth quarter valued at $365,191,000. Finally, Flinton Capital Management LLC acquired a new position in shares of Apple during the fourth quarter valued at $169,077,000. 61.17% of the stock is owned by institutional investors and hedge funds.

Apple Inc. (NASDAQ AAPL) traded down 1.00% during mid-day trading on Thursday, reaching $155.57. The company had a trading volume of 27,088,828 shares. The stock has a market cap of $136.09 billion, a PE ratio of 17.62 and a beta of 1.31. The firm’s 50-day moving average price is $147.04 and its 200-day moving average price is $142.60. Apple Inc. has a 12 month low of $102.53 and a 12 month high of $157.21.

Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.46%. The business had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. During the same period last year, the business posted $1.42 EPS. Apple’s revenue was up 7.2% on a year-over-year basis. Equities research analysts forecast that Apple Inc. will post $8.97 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 14th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $2.52 annualized dividend and a yield of 1.62%. Apple’s dividend payout ratio (DPR) is currently 28.64%.

Apple announced that its Board of Directors has initiated a stock buyback program on Tuesday, May 2nd that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the iPhone maker to repurchase up to 6.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

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Several equities analysts recently weighed in on AAPL shares. Drexel Hamilton reiterated a “buy” rating and issued a $202.00 price target on shares of Apple in a report on Thursday, July 6th. Instinet reaffirmed a “buy” rating and set a $165.00 price objective on shares of Apple in a research note on Wednesday, July 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $168.00 price objective on shares of Apple in a research note on Tuesday, June 6th. Credit Suisse Group reaffirmed an “outperform” rating and set a $170.00 price objective on shares of Apple in a research note on Tuesday, July 25th. Finally, Macquarie raised their price objective on shares of Apple from $170.00 to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday. Twelve research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has given a strong buy rating to the stock. Apple currently has a consensus rating of “Buy” and an average price target of $167.13.

In other Apple news, SVP D Bruce Sewell sold 67,500 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $148.76, for a total transaction of $10,041,300.00. Following the completion of the sale, the senior vice president now directly owns 141,325 shares in the company, valued at $21,023,507. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Angela J. Ahrendts sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $147.98, for a total transaction of $11,098,500.00. Following the sale, the insider now owns 154,116 shares of the company’s stock, valued at $22,806,085.68. The disclosure for this sale can be found here. Insiders sold a total of 373,000 shares of company stock valued at $56,497,046 over the last quarter. 0.08% of the stock is currently owned by company insiders.

Apple Company Profile

Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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