Apple Inc. $AAPL is Clarus Wealth Advisors' 9th Largest Position

Key Points

• Clarus Wealth Advisors has reduced its stake in Apple Inc. by 18.1%, making Apple its 9th largest holding with 31,889 shares valued at approximately $6.7 million.
• Apple recently reported earnings of $1.57 per share, exceeding analyst expectations, and generated $94.04 billion in revenue for the quarter, representing a 9.6% year-over-year increase.
• The company declared a quarterly dividend of $0.26 per share, with a low payout ratio of 15.78%, contributing to an annualized yield of 0.4%.

Clarus Wealth Advisors lessened its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 18.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,889 shares of the iPhone maker's stock after selling 7,031 shares during the quarter. Apple makes up 3.1% of Clarus Wealth Advisors' holdings, making the stock its 9th largest holding. Clarus Wealth Advisors' holdings in Apple were worth $6,697,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Burkett Financial Services LLC grew its stake in Apple by 0.6% in the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock valued at $3,199,000 after purchasing an additional 93 shares during the last quarter. Avid Wealth Partners LLC grew its stake in shares of Apple by 28.3% during the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock worth $935,000 after acquiring an additional 930 shares during the last quarter. Bell & Brown Wealth Advisors LLC raised its position in shares of Apple by 0.4% in the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker's stock valued at $13,772,000 after purchasing an additional 240 shares during the last quarter. OneAscent Wealth Management LLC boosted its stake 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 purchasing an additional 409 shares in the last quarter. Finally, Andina Capital Management LLC grew its position in Apple by 209.2% during the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker's stock worth $1,507,000 after purchasing an additional 4,591 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

Shares of NASDAQ AAPL opened at $256.08 on Tuesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a fifty day moving average of $225.30 and a 200 day moving average of $212.22. The firm has a market cap of $3.80 trillion, a PE ratio of 38.86, a PEG ratio of 2.55 and a beta of 1.11. Apple Inc. has a one year low of $169.21 and a one 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 earnings per share (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 analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.40 earnings per share. As a group, research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

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

Insider Activity at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the firm'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 transaction, 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 legal filing with the SEC, which is available through this link. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AAPL has been the subject of several research reports. The Goldman Sachs Group reiterated a "buy" rating and set a $266.00 price objective on shares of Apple in a research note on Tuesday, August 26th. JPMorgan Chase & Co. raised their target price on Apple from $255.00 to $280.00 and gave the stock an "overweight" rating in a research note on Friday. UBS Group reaffirmed a "neutral" rating on shares of Apple in a research report on Monday, September 8th. Moffett Nathanson raised Apple from a "sell" rating to a "neutral" rating and set a $225.00 price objective on the stock in a report on Thursday, September 4th. Finally, Loop Capital decreased their target price on Apple from $230.00 to $226.00 and set a "hold" rating for the company in a report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $244.03.

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.

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