Apple Inc. $AAPL Stock Holdings Cut by ODonnell Financial Services LLC

Key Points

• ODonnell Financial Services LLC has reduced its stake in Apple Inc. by 4.5%, now holding 33,426 shares valued at approximately $7.4 million.
• Numerous hedge funds increased their positions in Apple, with Vanguard Group acquiring an additional 49 million shares, raising their investment to approximately $349.5 billion.
• Apple's recent earnings report surpassed analysts' estimates, reporting $1.57 earnings per share and a revenue of $94.04 billion, representing a 9.6% year-over-year increase.

ODonnell Financial Services LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,426 shares of the iPhone maker's stock after selling 1,577 shares during the period. Apple accounts for approximately 3.1% of ODonnell Financial Services LLC's investment portfolio, making the stock its 10th biggest holding. ODonnell Financial Services LLC's holdings in Apple were worth $7,425,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Advanced Portfolio Management LLC lifted its holdings in shares of Apple by 0.3% during the 4th 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 in the last quarter. Salus Financial Advisors LLC boosted its stake in 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 purchasing an additional 49 shares during the period. Disciplined Investments LLC increased its stake in Apple by 0.7% during the 4th quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker's stock worth $1,794,000 after acquiring an additional 51 shares during the period. Sharpepoint LLC lifted its position in shares of Apple by 3.5% during the 1st quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker's stock worth $322,000 after buying an additional 51 shares during the last quarter. Finally, Redwood Financial Network Corp lifted its stake in shares of Apple by 0.6% in the 4th quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker's stock valued at $2,184,000 after acquiring an additional 53 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AAPL shares. Citigroup upped their price objective on shares of Apple from $240.00 to $245.00 and gave the company a "buy" rating in a report on Friday, August 1st. Morgan Stanley increased their price target on shares of Apple from $235.00 to $240.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Raymond James Financial reaffirmed an "outperform" rating and issued a $240.00 price target (up from $230.00) on shares of Apple in a research note on Friday, August 1st. UBS Group lifted their price objective on Apple from $210.00 to $220.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Finally, Loop Capital cut their price target on Apple from $230.00 to $226.00 and set a "hold" rating for the company in a report on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $237.37.

Apple Stock Performance

NASDAQ:AAPL traded down $0.42 during trading hours on Friday, reaching $232.14. 39,382,353 shares of the stock were exchanged, compared to its average volume of 55,684,536. The stock has a market capitalization of $3.45 trillion, a P/E ratio of 31.98, a P/E/G ratio of 2.42 and a beta of 1.11. The firm has a 50 day simple moving average of $215.79 and a 200-day simple moving average of $212.91. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

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

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple's payout ratio is presently 15.78%.

Insider Activity at Apple

In related 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 sale, the senior vice president owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.06% of the company's stock.

Apple 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.