Apple Inc. $AAPL Shares Sold by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC cut its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 113,559 shares of the iPhone maker's stock after selling 1,788 shares during the quarter. Apple comprises approximately 5.0% of Beverly Hills Private Wealth LLC's holdings, making the stock its largest holding. Beverly Hills Private Wealth LLC's holdings in Apple were worth $25,225,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Life Planning Partners Inc purchased a new stake in Apple in the 4th quarter valued at about $47,000. Elite Financial Inc. bought a new stake in Apple during the first quarter valued at about $58,000. Conquis Financial LLC purchased a new position in shares of Apple in the 4th quarter worth approximately $63,000. LSV Asset Management bought a new position in shares of Apple during the 4th quarter worth approximately $65,000. Finally, Pillar Financial Advisors LLC purchased a new stake in shares of Apple during the 4th quarter valued at $82,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insiders Place Their Bets

In other Apple 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 sale, the senior vice president owned 136,687 shares of the company's stock, valued at $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.06% of the company's stock.

Apple Trading Up 0.3%

NASDAQ:AAPL traded up $0.80 on Wednesday, reaching $230.11. The company's stock had a trading volume of 19,336,211 shares, compared to its average volume of 56,990,016. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The stock has a 50 day moving average price of $213.77 and a 200 day moving average price of $212.93. The firm has a market cap of $3.41 trillion, a price-to-earnings ratio of 34.93, a price-to-earnings-growth ratio of 2.37 and a beta of 1.16. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (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 firm had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same period last year, the company earned $1.40 EPS. The company's quarterly revenue was up 9.6% on a year-over-year basis. On average, equities analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

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

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors 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 dividend on an annualized basis and a dividend yield of 0.5%. Apple's dividend payout ratio (DPR) is presently 15.78%.

Analyst Ratings Changes

Several analysts have weighed in on AAPL shares. UBS Group boosted their target price on shares of Apple from $210.00 to $220.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. BMO Capital Markets reaffirmed a "buy" rating on shares of Apple in a report on Wednesday, August 13th. Raymond James Financial reissued an "outperform" rating and issued a $240.00 price objective (up from $230.00) on shares of Apple in a report on Friday, August 1st. Morgan Stanley upped their price target on shares of Apple from $235.00 to $240.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Bank of America reaffirmed a "buy" rating and set a $250.00 target price on shares of Apple in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $237.37.

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.