Apple Inc. $AAPL Position Trimmed by AlTi Global Inc.

Key Points

• AlTi Global Inc. has reduced its stake in Apple Inc. by 4.8%, now holding 283,400 shares valued at approximately $62.95 million.
• Analysts have varying perspectives on Apple, with ratings that include two "Strong Buy," fifteen "Buy," and one "Sell," as well as an average target price of $240.80.
• Apple announced a quarterly dividend of $0.26, resulting in an annualized dividend yield of 0.4%, with a payout ratio of 15.78%.

AlTi Global Inc. decreased its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 283,400 shares of the iPhone maker's stock after selling 14,400 shares during the period. Apple makes up 1.7% of AlTi Global Inc.'s investment portfolio, making the stock its 13th largest holding. AlTi Global Inc.'s holdings in Apple were worth $62,952,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Conquis Financial LLC acquired a new position in Apple during the fourth quarter worth about $63,000. LSV Asset Management purchased a new stake in Apple in the 4th quarter valued at approximately $65,000. Elite Financial Inc. acquired a new stake in Apple during the 1st quarter valued at $58,000. Pillar Financial Advisors LLC purchased a new position in Apple during the fourth quarter worth $82,000. Finally, Sellwood Investment Partners LLC acquired a new position in shares of Apple in the fourth quarter worth $147,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Trading Up 1.8%

Shares of Apple stock traded up $4.04 during trading hours on Friday, hitting $234.07. The company's stock had a trading volume of 55,768,555 shares, compared to its average volume of 45,223,864. 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 company has a market capitalization of $3.47 trillion, a PE ratio of 35.52, a P/E/G ratio of 2.39 and a beta of 1.11. The business has a fifty day moving average of $221.50 and a 200 day moving average of $212.39. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company's revenue was up 9.6% on a year-over-year basis. During the same period last year, the business posted $1.40 EPS. As a group, equities analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given 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 dividend yield of 0.4%. Apple's dividend payout ratio (DPR) is presently 15.78%.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of recent research reports. DA Davidson restated a "neutral" rating and issued a $250.00 target price on shares of Apple in a report on Thursday. Raymond James Financial reaffirmed 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 reissued an "outperform" rating and set a $270.00 price target on shares of Apple in a research note on Tuesday. Monness Crespi & Hardt upped their target price on Apple from $245.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Finally, Moffett Nathanson raised Apple from a "sell" rating to a "neutral" rating and set a $225.00 price target on the stock in a research note on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Apple has a consensus rating of "Moderate Buy" and a consensus price target of $240.80.

Insider Transactions at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the business's stock in a transaction that occurred 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 completion of the sale, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is owned by insiders.

Apple Company 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.