Fullcircle Wealth LLC Has $4.94 Million Stock Position in Apple Inc. $AAPL

Fullcircle Wealth LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 9.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,528 shares of the iPhone maker's stock after selling 2,422 shares during the period. Apple makes up about 2.0% of Fullcircle Wealth LLC's holdings, making the stock its 6th largest holding. Fullcircle Wealth LLC's holdings in Apple were worth $4,944,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Life Planning Partners Inc purchased a new position in shares of Apple in the fourth quarter valued at approximately $47,000. Elite Financial Inc. purchased a new position in Apple in the 1st quarter valued at approximately $58,000. Conquis Financial LLC acquired a new position in shares of Apple in the fourth quarter worth $63,000. LSV Asset Management acquired a new position in shares of Apple in the fourth quarter worth $65,000. Finally, Pillar Financial Advisors LLC purchased a new stake in shares of Apple during the fourth quarter worth $82,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AAPL has been the topic of several recent analyst reports. Citigroup increased their price target on shares of Apple from $240.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Wedbush reaffirmed an "outperform" rating and issued a $270.00 target price on shares of Apple in a research report on Thursday, August 7th. Monness Crespi & Hardt boosted their price target on shares of Apple from $245.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Scotiabank downgraded shares of Apple to a "market perform" rating in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $266.00 target price on shares of Apple in a report on Tuesday. Two 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 company's stock. According to data from MarketBeat.com, Apple presently has a consensus rating of "Moderate Buy" and an average price target of $237.37.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of Apple 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 sale, the senior vice president directly owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. 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 corporate insiders.

Apple Price Performance

AAPL stock traded up $0.80 during trading on Wednesday, hitting $230.11. The stock had a trading volume of 19,336,211 shares, compared to its average volume of 56,990,016. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The stock 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's 50 day moving average price is $213.77 and its two-hundred day moving average price is $212.93. 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 announced its quarterly earnings data 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. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter in the prior year, the firm posted $1.40 earnings per share. The company's quarterly revenue was up 9.6% compared to the same quarter last year. On average, sell-side analysts forecast 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 $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.5%. Apple's payout ratio is currently 15.78%.

Apple announced that its board has initiated a stock repurchase 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 purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

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.