Adage Capital Partners GP L.L.C. reduced its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,609,179 shares of the iPhone maker's stock after selling 310,000 shares during the period. Apple accounts for about 5.6% of Adage Capital Partners GP L.L.C.'s holdings, making the stock its biggest position. Adage Capital Partners GP L.L.C. owned 0.09% of Apple worth $3,023,007,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of AAPL. Burkett Financial Services LLC lifted its stake in shares of Apple by 0.6% during the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock valued at $3,199,000 after buying an additional 93 shares during the period. Avid Wealth Partners LLC lifted its holdings in shares of Apple by 28.3% in the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock worth $935,000 after purchasing an additional 930 shares during the last quarter. OneAscent Wealth Management LLC grew its holdings in Apple by 4.6% in the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock worth $2,337,000 after buying an additional 409 shares in the last quarter. Bell & Brown Wealth Advisors LLC grew its holdings in Apple by 0.4% during the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker's stock worth $13,772,000 after acquiring an additional 240 shares during the period. Finally, TruWealth Advisors LLC boosted its position in shares of Apple by 2.8% in the 1st quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker's stock valued at $42,045,000 after purchasing an additional 5,120 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.
Apple Trading Up 1.8%
AAPL traded up $4.04 during trading on Friday, hitting $234.07. 55,768,555 shares of the stock traded hands, compared to its average volume of 45,223,864. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a 50-day moving average of $221.50 and a 200 day moving average of $212.39. The firm has a market capitalization of $3.47 trillion, a P/E ratio of 35.52, a price-to-earnings-growth ratio of 2.39 and a beta of 1.11. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm had revenue of $94.04 billion for the quarter, compared to analysts' expectations of $88.64 billion. During the same period in the previous year, the firm posted $1.40 EPS. The business's revenue for the quarter was up 9.6% compared to the same quarter last year. Equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.
Apple Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple's dividend payout ratio (DPR) is presently 15.78%.
Insider Buying and Selling
In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.06% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on AAPL. HSBC set a $220.00 price target on Apple and gave the stock a "hold" rating in a research note on Monday, September 8th. Raymond James Financial reissued an "outperform" rating and issued a $240.00 target price (up from $230.00) on shares of Apple in a research note on Friday, August 1st. Wedbush restated an "outperform" rating and issued a $270.00 price target on shares of Apple in a research note on Tuesday. Evercore ISI boosted their price target on Apple from $250.00 to $260.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, Moffett Nathanson upgraded Apple from a "sell" rating to a "neutral" rating and set a $225.00 target price on the stock in a research report on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $240.80.
View Our Latest Stock Report on Apple
About Apple
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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.
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