Olistico Wealth LLC Sells 4,300 Shares of Apple Inc. $AAPL

Key Points

• Olistico Wealth LLC has reduced its stake in Apple Inc. by 6.9%, selling 4,300 shares during the first quarter, holding a total of 58,432 shares worth approximately $12.98 million now.
• Apple's recent quarterly earnings showed an EPS of $1.57 and a revenue of $94.04 billion, exceeding analysts' expectations and marking a 9.6% year-over-year revenue increase.
• The company's Board of Directors has authorized a stock buyback plan worth $100 billion, indicating a belief that its shares are currently undervalued.

Olistico Wealth LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 6.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 58,432 shares of the iPhone maker's stock after selling 4,300 shares during the quarter. Apple comprises 8.1% of Olistico Wealth LLC's holdings, making the stock its 3rd biggest position. Olistico Wealth LLC's holdings in Apple were worth $12,980,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tallon Kerry Patrick bought a new stake in Apple during the 4th quarter worth approximately $1,877,000. First National Bank of Hutchinson increased its stake in Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock worth $8,845,000 after purchasing an additional 6,982 shares in the last quarter. Capital & Planning LLC increased its stake in Apple by 10.7% during the 4th quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker's stock worth $6,836,000 after purchasing an additional 2,647 shares in the last quarter. Eagle Capital Management LLC increased its stake in Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after purchasing an additional 272 shares in the last quarter. Finally, Brighton Jones LLC increased its stake in Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after purchasing an additional 69,207 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Stock Performance

Shares of Apple stock traded up $2.86 during trading on Friday, hitting $227.76. 42,431,176 shares of the stock were exchanged, compared to its average volume of 61,854,304. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The company has a fifty day moving average price of $212.52 and a 200-day moving average price of $213.09. The stock has a market capitalization of $3.38 trillion, a price-to-earnings ratio of 34.56, a price-to-earnings-growth ratio of 2.35 and a beta of 1.16. 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 posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.Apple's quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the company posted $1.40 earnings per share. As a group, equities analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued 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 payout ratio is presently 15.78%.

Apple declared that its Board of Directors has authorized a stock buyback 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 shares are undervalued.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research reports. Rosenblatt Securities reissued a "neutral" rating and set a $217.00 target price on shares of Apple in a research note on Tuesday, July 29th. Raymond James Financial reaffirmed an "outperform" rating and set a $240.00 price target (up from $230.00) on shares of Apple in a research note on Friday, August 1st. Jefferies Financial Group raised shares of Apple from an "underperform" rating to a "hold" rating in a research note on Friday, July 18th. Monness Crespi & Hardt raised their price target on shares of Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, Scotiabank cut shares of Apple to a "market perform" rating in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $237.98.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction on 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 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.06% of the company's stock.

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.