Callan Family Office LLC Reduces Position in Apple Inc. $AAPL

Key Points

• Callan Family Office LLC reduced its holdings in Apple Inc. by 26.9%, now owning 223,258 shares worth approximately $49.6 million, making it the firm's third largest position.
• Apple's stock is currently trading at $226.79, which is a decrease of 3.2%, with analysts setting a target price range between $220 and $270, indicating mixed perspectives on the stock's future performance.
• The company recently announced a quarterly dividend of $0.26 per share, translating to an annual yield of 0.5%, further highlighting its ongoing financial commitments to shareholders.

Callan Family Office LLC reduced its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 26.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 223,258 shares of the iPhone maker's stock after selling 82,354 shares during the quarter. Apple accounts for 3.7% of Callan Family Office LLC's portfolio, making the stock its 3rd largest position. Callan Family Office LLC's holdings in Apple were worth $49,592,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Advanced Portfolio Management LLC raised its holdings in Apple by 0.3% in the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock worth $3,260,000 after acquiring an additional 47 shares during the last quarter. Salus Financial Advisors LLC raised its stake in shares of Apple by 3.9% in the 1st 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 during the period. Disciplined Investments LLC boosted its holdings in shares of Apple by 0.7% in the 4th quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker's stock valued at $1,794,000 after buying an additional 51 shares in the last quarter. Sharpepoint LLC increased its holdings in shares of Apple by 3.5% in the 1st quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker's stock valued at $322,000 after purchasing an additional 51 shares in the last quarter. Finally, Redwood Financial Network Corp boosted its position in shares of Apple by 0.6% in the fourth quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker's stock worth $2,184,000 after acquiring an additional 53 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

Apple Stock Up 1.8%

Shares of AAPL stock traded up $4.04 during trading hours on Friday, reaching $234.07. 55,768,555 shares of the company's stock were exchanged, compared to its average volume of 45,223,864. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. 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 market cap of $3.47 trillion, a price-to-earnings ratio of 35.52, a P/E/G ratio of 2.39 and a beta of 1.11. The stock's 50 day moving average is $221.50 and its 200-day moving average is $212.20.

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

Apple Announces Dividend

The business also recently disclosed 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 yield of 0.4%. Apple's payout ratio is currently 15.78%.

Insider Activity

In related news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction that occurred 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 owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of research analyst reports. Moffett Nathanson raised shares of Apple from a "sell" rating to a "neutral" rating and set a $225.00 price target for the company in a report on Thursday, September 4th. Bank of America lifted their target price on Apple from $260.00 to $270.00 and gave the stock a "buy" rating in a research note on Wednesday. Loop Capital decreased their price target on Apple from $230.00 to $226.00 and set a "hold" rating for the company in a research note on Thursday, August 21st. Rosenblatt Securities lifted their price target on Apple from $223.00 to $241.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, Wedbush reiterated an "outperform" rating and issued a $270.00 price objective on shares of Apple in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $240.80.

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.