Apple Inc. $AAPL Stock Position Decreased by BetterWealth LLC

Key Points

• BetterWealth LLC reduced its stake in Apple Inc. by 17.1%, owning 147,484 shares and making it the firm's 3rd largest position, worth approximately $32.76 million.
• Apple reported a net margin of 24.30% with a quarterly revenue of $94.04 billion, exceeding analysts' expectations of $88.64 billion.
• The company declared a quarterly dividend of $0.26 per share, resulting in an annualized yield of 0.4%, and has also authorized a significant $100 billion share repurchase plan.

BetterWealth LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 17.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 147,484 shares of the iPhone maker's stock after selling 30,396 shares during the quarter. Apple makes up 9.2% of BetterWealth LLC's portfolio, making the stock its 3rd biggest position. BetterWealth LLC's holdings in Apple were worth $32,761,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Life Planning Partners Inc purchased a new stake in Apple in the fourth quarter worth $47,000. Conquis Financial LLC purchased a new stake in Apple in the fourth quarter worth $63,000. LSV Asset Management purchased a new stake in Apple in the fourth quarter worth $65,000. Pillar Financial Advisors LLC purchased a new stake in Apple in the fourth quarter worth $82,000. Finally, Compass Planning Associates Inc purchased a new stake in Apple in the fourth quarter worth $96,000. Institutional investors own 67.73% of the company's stock.

Insiders Place Their Bets

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 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 in the company, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.06% of the company's stock.

Apple Stock Down 0.4%

Shares of AAPL traded down $0.9810 during trading hours on Tuesday, hitting $229.9090. The company had a trading volume of 20,787,359 shares, compared to its average volume of 57,647,684. The company's fifty day moving average price is $210.28 and its two-hundred day moving average price is $212.94. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a market capitalization of $3.41 trillion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 2.42 and a beta of 1.16. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same period in the prior year, the company posted $1.40 EPS. The firm's quarterly revenue was up 9.6% compared to the same quarter last year. As a group, equities 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 approved a share repurchase program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, August 11th. Apple's payout ratio is presently 15.78%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AAPL. Raymond James Financial reissued an "outperform" rating and issued a $240.00 target price (up from $230.00) on shares of Apple in a research note on Friday, August 1st. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Apple in a research report on Wednesday, May 21st. UBS Group lifted their target price on Apple from $210.00 to $220.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. DA Davidson restated a "buy" rating and set a $250.00 price target on shares of Apple in a report on Friday, August 1st. Finally, BMO Capital Markets reiterated a "buy" rating on shares of Apple in a report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and a consensus price target of $237.60.

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.