Apple Inc. $AAPL is Virtu Financial LLC's 10th Largest Position

Key Points

• Virtu Financial LLC has reduced its stake in Apple Inc. by 6.4%, making Apple its 10th largest holding at approximately $15.7 million worth of shares.
• Apple's recent quarterly earnings topped expectations, with a reported $1.57 earnings per share and a revenue of $94.04 billion, marking a 9.6% year-over-year increase.
• The company announced a quarterly dividend of $0.26 per share, translating to an annualized dividend yield of 0.4%.

Virtu Financial LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 6.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 70,644 shares of the iPhone maker's stock after selling 4,792 shares during the quarter. Apple comprises approximately 0.9% of Virtu Financial LLC's holdings, making the stock its 10th largest holding. Virtu Financial LLC's holdings in Apple were worth $15,692,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AAPL. Advanced Portfolio Management LLC boosted its stake in Apple by 0.3% during the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock valued at $3,260,000 after buying an additional 47 shares in the last quarter. Salus Financial Advisors LLC lifted its holdings in shares of Apple by 3.9% during the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker's stock valued at $291,000 after purchasing an additional 49 shares during the last quarter. Disciplined Investments LLC lifted its holdings in shares of Apple by 0.7% during the fourth quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker's stock valued at $1,794,000 after purchasing an additional 51 shares during the last quarter. Sharpepoint LLC lifted its holdings in shares of Apple by 3.5% during the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker's stock valued at $322,000 after purchasing an additional 51 shares during the last quarter. Finally, Redwood Financial Network Corp lifted its holdings in shares of Apple by 0.6% during the fourth quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker's stock valued at $2,184,000 after purchasing an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Down 0.8%

Shares of Apple stock opened at $237.88 on Tuesday. The stock has a 50-day moving average price of $219.93 and a 200 day moving average price of $212.35. The company has a market cap of $3.53 trillion, a P/E ratio of 36.10, a P/E/G ratio of 2.50 and a beta of 1.11. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. 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 quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $88.64 billion. During the same period in the prior year, the business earned $1.40 EPS. The business's revenue for the quarter was up 9.6% on a year-over-year basis. As a group, analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid a dividend of $0.26 per share. 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 15.78%.

Wall Street Analyst Weigh In

AAPL has been the subject of several analyst reports. Jefferies Financial Group upped their target price on Apple from $190.67 to $205.82 and gave the company a "hold" rating in a report on Monday. The Goldman Sachs Group reaffirmed a "buy" rating and set a $266.00 target price on shares of Apple in a report on Tuesday, August 26th. Wedbush reaffirmed an "outperform" rating and set a $270.00 target price on shares of Apple in a report on Wednesday, September 3rd. Raymond James Financial reaffirmed an "outperform" rating and set a $240.00 target price (up from $230.00) on shares of Apple in a report on Friday, August 1st. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a report on Friday, July 25th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $238.99.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction dated 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 completion of the sale, the senior vice president directly owned 136,687 shares of the company's stock, valued at $30,508,538.40. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is owned by company 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.

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