High Net Worth Advisory Group LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,918 shares of the iPhone maker's stock after selling 2,424 shares during the period. Apple accounts for about 3.7% of High Net Worth Advisory Group LLC's holdings, making the stock its 4th biggest position. High Net Worth Advisory Group LLC's holdings in Apple were worth $13,088,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Regent Peak Wealth Advisors LLC grew its holdings in Apple by 0.9% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 111,858 shares of the iPhone maker's stock valued at $28,012,000 after buying an additional 1,050 shares in the last quarter. R.H. Investment Group LLC bought a new position in shares of Apple in the fourth quarter valued at approximately $5,375,000. Sebold Capital Management Inc. bought a new position in shares of Apple in the fourth quarter valued at approximately $203,000. Mason & Associates Inc grew its stake in Apple by 1.2% during the fourth quarter. Mason & Associates Inc now owns 34,033 shares of the iPhone maker's stock valued at $8,522,000 after acquiring an additional 389 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in Apple by 3.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 72,428 shares of the iPhone maker's stock worth $18,137,000 after acquiring an additional 2,581 shares during the period. Institutional investors own 67.73% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. Raymond James Financial cut their price target on shares of Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Tigress Financial lifted their price objective on Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a research note on Thursday, April 3rd. Morgan Stanley restated an "overweight" rating on shares of Apple in a research report on Friday, June 13th. Wedbush reaffirmed an "outperform" rating and issued a $270.00 price target on shares of Apple in a report on Tuesday, June 10th. Finally, TD Cowen cut their price objective on Apple from $290.00 to $275.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $234.39.
View Our Latest Stock Report on Apple
Apple Trading Up 2.0%
AAPL traded up $4.09 during trading on Monday, hitting $205.17. 91,511,325 shares of the stock traded hands, compared to its average volume of 53,513,950. The firm has a market capitalization of $3.06 trillion, a P/E ratio of 31.96, a price-to-earnings-growth ratio of 2.25 and a beta of 1.22. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. The firm has a 50-day moving average of $202.61 and a 200 day moving average of $219.83.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.62 by $0.03. The firm 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.53 earnings per share. Equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.
Apple Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a dividend of $0.26 per share. This is a positive change from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. Apple's dividend payout ratio is presently 16.20%.
Apple announced that its board has approved a stock buyback program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.
Insiders Place Their Bets
In related news, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the sale, the chief financial officer owned 4,569 shares of the company's stock, valued at $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider directly owned 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 191,507 shares of company stock worth $42,694,080. Insiders own 0.06% of the company's stock.
Apple Profile
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Free Report)
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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