Apple Inc. (NASDAQ:AAPL) Shares Sold by Progressive Investment Management Corp

Progressive Investment Management Corp trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 196,398 shares of the iPhone maker’s stock after selling 739 shares during the quarter. Apple accounts for approximately 10.8% of Progressive Investment Management Corp’s portfolio, making the stock its largest holding. Progressive Investment Management Corp’s holdings in Apple were worth $37,813,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Canal Capital Management LLC increased its holdings in shares of Apple by 0.9% in the 4th quarter. Canal Capital Management LLC now owns 123,429 shares of the iPhone maker’s stock valued at $23,764,000 after purchasing an additional 1,099 shares in the last quarter. Venture Visionary Partners LLC grew its position in Apple by 0.3% during the fourth quarter. Venture Visionary Partners LLC now owns 351,145 shares of the iPhone maker’s stock worth $67,607,000 after buying an additional 943 shares during the period. Detalus Advisors LLC increased its holdings in Apple by 0.7% in the fourth quarter. Detalus Advisors LLC now owns 20,601 shares of the iPhone maker’s stock valued at $3,966,000 after buying an additional 148 shares in the last quarter. Allworth Financial LP lifted its position in shares of Apple by 12.2% during the 4th quarter. Allworth Financial LP now owns 820,177 shares of the iPhone maker’s stock valued at $157,909,000 after acquiring an additional 89,418 shares during the period. Finally, Capital Insight Partners LLC boosted its stake in shares of Apple by 0.9% during the 4th quarter. Capital Insight Partners LLC now owns 63,689 shares of the iPhone maker’s stock worth $12,262,000 after acquiring an additional 550 shares in the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AAPL shares. Piper Sandler reduced their price objective on Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. Wedbush reaffirmed an “outperform” rating and set a $250.00 price target on shares of Apple in a research note on Tuesday, April 9th. Redburn Atlantic cut shares of Apple from a “buy” rating to a “neutral” rating and set a $200.00 price objective on the stock. in a research note on Wednesday, January 10th. UBS Group restated a “hold” rating and set a $190.00 target price on shares of Apple in a research report on Monday, March 25th. Finally, Piper Sandler Companies lowered shares of Apple to a “neutral” rating and lowered their price target for the company from $220.00 to $205.00 in a research report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $202.62.

Insider Activity at Apple

In other news, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the sale, the director now owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Arthur D. Levinson sold 100,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the transaction, the director now directly owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the sale, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The disclosure for this sale can be found here. In the last three months, insiders sold 366,271 shares of company stock worth $63,653,887. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $173.50 on Tuesday. The firm has a market capitalization of $2.68 trillion, a PE ratio of 27.02, a P/E/G ratio of 2.04 and a beta of 1.27. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $199.62. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02. The business has a 50-day moving average of $172.86 and a two-hundred day moving average of $181.77.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, beating the consensus estimate of $2.09 by $0.09. Apple had a net margin of 26.16% and a return on equity of 156.04%. The firm had revenue of $119.60 billion for the quarter, compared to analyst estimates of $117.99 billion. During the same quarter last year, the firm posted $1.88 earnings per share. Apple’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, research analysts forecast that Apple Inc. will post 6.54 earnings per share for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were given a dividend of $0.24 per share. The ex-dividend date was Friday, February 9th. This represents a $0.96 dividend on an annualized basis and a yield of 0.55%. Apple’s dividend payout ratio (DPR) is 14.95%.

Apple Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. 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, and HomePod.