Apple Inc. $AAPL Shares Sold by OMC Financial Services LTD

Key Points

• OMC Financial Services LTD reduced its position in Apple Inc. by 7.3%, holding 127,804 shares, making Apple approximately 12.7% of its portfolio and its largest position valued at $28.39 million.
• Equities analysts have increased their price targets for Apple, with a consensus rating of "Moderate Buy" and an average price target of $237.37, reflecting growing confidence in the stock.
• Apple declared a quarterly dividend of $0.26, representing a 0.4% dividend yield, and announced a $100 billion stock repurchase program, reflecting confidence in the company's valuation.

OMC Financial Services LTD decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 7.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 127,804 shares of the iPhone maker's stock after selling 10,037 shares during the period. Apple makes up about 12.7% of OMC Financial Services LTD's holdings, making the stock its largest holding. OMC Financial Services LTD's holdings in Apple were worth $28,389,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Advanced Portfolio Management LLC increased its stake in shares of Apple by 0.3% in the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock valued at $3,260,000 after purchasing an additional 47 shares during the period. Salus Financial Advisors LLC boosted its holdings in shares of Apple by 3.9% in the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker's stock valued at $291,000 after acquiring an additional 49 shares in the last quarter. Disciplined Investments LLC boosted its holdings in shares of Apple by 0.7% in the fourth quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker's stock valued at $1,794,000 after acquiring an additional 51 shares in the last quarter. Redwood Financial Network Corp boosted its holdings in Apple by 0.6% during the fourth quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker's stock worth $2,184,000 after buying an additional 53 shares in the last quarter. Finally, Mission Hills Financial Advisory LLC boosted its holdings in Apple by 1.3% during the first quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker's stock worth $892,000 after buying an additional 53 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AAPL. Citigroup raised their target price on shares of Apple from $240.00 to $245.00 and gave the stock a "buy" rating in a report on Friday, August 1st. BMO Capital Markets restated a "buy" rating on shares of Apple in a research report on Wednesday, August 13th. Evercore ISI restated an "outperform" rating and issued a $250.00 price target on shares of Apple in a research report on Wednesday, August 13th. Barclays upped their price target on shares of Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research report on Friday, August 1st. Finally, UBS Group upped their price target on shares of Apple from $210.00 to $220.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $237.37.

Apple Stock Performance

NASDAQ AAPL traded down $0.42 during midday trading on Friday, hitting $232.14. The company had a trading volume of 39,382,353 shares, compared to its average volume of 55,684,536. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The stock has a market cap of $3.45 trillion, a price-to-earnings ratio of 35.23, a P/E/G ratio of 2.42 and a beta of 1.11. The firm has a fifty day simple moving average of $215.79 and a two-hundred day simple moving average of $212.71. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share 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 analyst estimates of $88.64 billion. During the same period in the previous year, the business earned $1.40 EPS. The firm's revenue was up 9.6% on a year-over-year basis. Equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid a $0.26 dividend. 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 payout ratio is currently 15.78%.

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the transaction, 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 SEC, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company's stock.

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.