Apple Inc. $AAPL Holdings Decreased by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. reduced its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 48.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,565 shares of the iPhone maker's stock after selling 14,797 shares during the period. Apple makes up about 1.6% of Raleigh Capital Management Inc.'s investment portfolio, making the stock its 8th largest position. Raleigh Capital Management Inc.'s holdings in Apple were worth $3,458,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Life Planning Partners Inc acquired a new stake in Apple during the 4th quarter worth about $47,000. Elite Financial Inc. acquired a new position in shares of Apple during the first quarter worth approximately $58,000. Conquis Financial LLC bought a new position in Apple in the fourth quarter valued at approximately $63,000. LSV Asset Management acquired a new position in Apple during the fourth quarter valued at approximately $65,000. Finally, Pillar Financial Advisors LLC acquired 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.

Apple Price Performance

Shares of NASDAQ:AAPL traded up $0.80 during trading on Wednesday, hitting $230.11. 19,336,211 shares of the company were exchanged, 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 company has a market capitalization of $3.41 trillion, a P/E 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. The business's 50 day moving average is $213.77 and its 200-day moving average is $212.93.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.40 EPS. Equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio (DPR) is currently 15.78%.

Apple declared that its Board of Directors has approved a share repurchase plan on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have commented on AAPL. Morgan Stanley boosted 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. Loop Capital dropped their target price on Apple from $230.00 to $226.00 and set a "hold" rating on the stock in a report on Thursday, August 21st. Jefferies Financial Group upgraded Apple from an "underperform" rating to a "hold" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. boosted their price target on Apple from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, UBS Group raised their price objective 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. 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $237.37.

Insider Activity at Apple

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the transaction, the senior vice president directly owned 136,687 shares of the company's stock, valued at $30,508,538.40. The trade was a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is currently 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.