Almanack Investment Partners LLC. Has $4.81 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Almanack Investment Partners LLC. decreased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 8.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,673 shares of the iPhone maker's stock after selling 1,952 shares during the quarter. Apple accounts for approximately 1.0% of Almanack Investment Partners LLC.'s holdings, making the stock its 18th largest position. Almanack Investment Partners LLC.'s holdings in Apple were worth $4,814,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in AAPL. Life Planning Partners Inc bought a new stake in Apple during the 4th quarter valued at $47,000. Conquis Financial LLC bought a new stake in Apple during the 4th quarter valued at $63,000. LSV Asset Management bought a new stake in Apple during the 4th quarter valued at $65,000. Pillar Financial Advisors LLC bought a new stake in Apple during the 4th quarter valued at $82,000. Finally, Compass Planning Associates Inc bought a new stake in shares of Apple in the 4th quarter worth $96,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Price Performance

Shares of AAPL stock traded down $2.06 during trading hours on Friday, hitting $230.73. The company had a trading volume of 31,276,517 shares, compared to its average volume of 57,842,020. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The firm has a market capitalization of $3.42 trillion, a price-to-earnings ratio of 35.01, a PEG ratio of 2.44 and a beta of 1.16. The firm's fifty day moving average is $209.13 and its 200 day moving average is $213.37. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL - Get Free Report) last released 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 business had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same period in the prior year, the company earned $1.40 EPS. Apple's revenue for the quarter was up 9.6% on a year-over-year basis. On average, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.5%. Apple's dividend payout ratio is currently 15.78%.

Apple declared that its board has authorized a share buyback plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

AAPL has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their price objective on Apple from $250.00 to $255.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Loop Capital dropped their price objective on Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Wedbush reissued an "outperform" rating and issued a $270.00 price objective on shares of Apple in a research note on Thursday, August 7th. Jefferies Financial Group raised Apple from an "underperform" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Evercore ISI restated an "outperform" rating and issued a $250.00 target price on shares of Apple in a report on Wednesday. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and a consensus price target of $237.60.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company's stock.

About Apple

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.