Apple Inc. (NASDAQ:AAPL) is Colonial River Investments LLC's Largest Position

Colonial River Investments LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 7.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,093 shares of the iPhone maker's stock after selling 3,855 shares during the period. Apple makes up 6.1% of Colonial River Investments LLC's portfolio, making the stock its biggest position. Colonial River Investments LLC's holdings in Apple were worth $11,127,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Life Planning Partners Inc purchased a new position in Apple in the fourth quarter worth about $47,000. Conquis Financial LLC purchased a new position in Apple in the fourth quarter worth about $63,000. LSV Asset Management purchased a new position in Apple in the fourth quarter worth about $65,000. Pillar Financial Advisors LLC purchased a new position in Apple in the fourth quarter worth about $82,000. Finally, Compass Planning Associates Inc purchased a new position in Apple in the fourth quarter worth about $96,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the business'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 completion of the transaction, the senior vice president owned 136,687 shares in the company, 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 this hyperlink. 0.06% of the stock is currently owned by insiders.

Apple Trading Down 0.5%

Shares of Apple stock traded down $1.19 on Friday, reaching $231.59. The company had a trading volume of 56,003,275 shares, compared to its average volume of 63,552,584. The firm has a market cap of $3.44 trillion, a price-to-earnings ratio of 35.14, a P/E/G ratio of 2.42 and a beta of 1.16. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The firm's 50-day moving average price is $209.69 and its two-hundred day moving average price is $213.14. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.

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

Apple declared that its board has initiated a share buyback 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 stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Apple Announces Dividend

The firm 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 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 presently 15.78%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. BMO Capital Markets reissued a "buy" rating on shares of Apple in a research report on Wednesday. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Apple in a research note on Wednesday, May 21st. Barclays raised their price objective on Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. raised their price objective on Apple from $250.00 to $255.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Loop Capital decreased their target price on Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $237.60.

About Apple

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.