Apple Inc. (NASDAQ:AAPL) Holdings Trimmed by Salvus Wealth Management LLC

Salvus Wealth Management LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 7.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,618 shares of the iPhone maker's stock after selling 2,113 shares during the quarter. Apple accounts for 3.4% of Salvus Wealth Management LLC's portfolio, making the stock its 5th largest position. Salvus Wealth Management LLC's holdings in Apple were worth $5,468,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AAPL. Drystone LLC acquired a new position in Apple in the 4th quarter worth about $25,000. Conquis Financial LLC bought a new stake in shares of Apple during the 4th quarter worth $63,000. LSV Asset Management acquired a new stake in shares of Apple in the fourth quarter valued at about $65,000. Pillar Financial Advisors LLC acquired a new position in shares of Apple during the fourth quarter worth approximately $82,000. Finally, Compass Planning Associates Inc bought a new stake in Apple in the 4th quarter valued at $96,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In other Apple news, CFO Kevan Parekh sold 4,570 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the transaction, the chief financial officer owned 4,569 shares of the company's stock, valued at $941,214. The trade was a 50.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider owned 15,533 shares in the company, valued at $3,233,815.27. This represents a 22.41% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Jefferies Financial Group raised Apple from an "underperform" rating to a "hold" rating and raised their target price for the stock from $170.62 to $188.32 in a research report on Tuesday. Scotiabank cut shares of Apple to a "market perform" rating in a research report on Friday, May 2nd. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a report on Tuesday, June 10th. Evercore ISI raised their price target on Apple to $250.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Finally, Rosenblatt Securities cut shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target on the stock. in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Apple has a consensus rating of "Moderate Buy" and a consensus price target of $234.95.

Apple Price Performance

Shares of AAPL opened at $212.44 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The company's fifty day simple moving average is $203.16 and its 200 day simple moving average is $219.40. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a market cap of $3.17 trillion, a price-to-earnings ratio of 33.09, a PEG ratio of 2.32 and a beta of 1.20.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. The company had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The company's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.53 EPS. On average, research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a $0.26 dividend. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio (DPR) is 16.20%.

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.

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