Apple Inc. $AAPL Shares Sold by Alexander Labrunerie & CO. Inc.

Key Points

• Alexander Labrunerie & CO. Inc. reduced its stake in Apple Inc. by 1.4%, now holding 107,034 shares valued at $23,775,000, which remains its largest position at 10.3% of total holdings.
• Wall Street analysts have mixed ratings on Apple, with Monness Crespi & Hardt setting a price target of $270.00 and two analysts rating the stock as a Strong Buy, while others have varying target prices and ratings.
• Apple recently declared a quarterly dividend of $0.26 per share, resulting in an annualized yield of 0.4%, with a payout ratio of 15.78%.

Alexander Labrunerie & CO. Inc. trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,034 shares of the iPhone maker's stock after selling 1,544 shares during the period. Apple accounts for approximately 10.3% of Alexander Labrunerie & CO. Inc.'s holdings, making the stock its largest holding. Alexander Labrunerie & CO. Inc.'s holdings in Apple were worth $23,775,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Burkett Financial Services LLC grew its holdings in shares of Apple by 0.6% in the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock valued at $3,199,000 after acquiring an additional 93 shares in the last quarter. Avid Wealth Partners LLC raised its position in shares of Apple by 28.3% in the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock valued at $935,000 after buying an additional 930 shares in the last quarter. OneAscent Wealth Management LLC increased its stake in Apple by 4.6% in the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock valued at $2,337,000 after acquiring an additional 409 shares during the last quarter. TruWealth Advisors LLC increased its stake in Apple by 2.8% in the first quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker's stock valued at $42,045,000 after acquiring an additional 5,120 shares during the last quarter. Finally, Allstate Corp grew its stake in shares of Apple by 3,368.2% during the fourth quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock worth $113,062,000 after buying an additional 438,471 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of research analyst reports. UBS Group upped their price target on shares of Apple from $210.00 to $220.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Monness Crespi & Hardt upped their price objective on shares of Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. BMO Capital Markets reissued a "buy" rating on shares of Apple in a research report on Wednesday, August 13th. DA Davidson reissued a "buy" rating and set a $250.00 price objective on shares of Apple in a report on Friday, August 1st. Finally, Citigroup lifted their target price on shares of Apple from $240.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and an average price target of $237.37.

Insider Transactions at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the sale, the senior vice president owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.06% of the company's stock.

Apple Trading Down 0.2%

NASDAQ:AAPL traded down $0.42 during mid-day trading on Friday, hitting $232.14. 39,382,353 shares of the stock traded hands, compared to its average volume of 58,935,340. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The firm's 50 day moving average is $215.79 and its two-hundred day moving average is $212.91. The stock has a market capitalization of $3.45 trillion, a price-to-earnings ratio of 35.23, a PEG ratio of 2.42 and a beta of 1.16. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The company had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.40 earnings per share. On average, equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple's dividend payout ratio is presently 15.78%.

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.