Teamwork Financial Advisors LLC Sells 49,630 Shares of Apple Inc. (NASDAQ:AAPL)

Teamwork Financial Advisors LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 19.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 205,089 shares of the iPhone maker's stock after selling 49,630 shares during the period. Apple comprises about 6.1% of Teamwork Financial Advisors LLC's portfolio, making the stock its 2nd largest holding. Teamwork Financial Advisors LLC's holdings in Apple were worth $45,557,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Regent Peak Wealth Advisors LLC lifted its stake in Apple by 0.9% in the fourth 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 during the last quarter. Tallon Kerry Patrick acquired a new stake in shares of Apple in the 4th quarter worth about $1,877,000. First National Bank of Hutchinson lifted its position in Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after purchasing an additional 6,982 shares during the last quarter. Capital & Planning LLC lifted its position in Apple by 10.7% in the 4th quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker's stock valued at $6,836,000 after purchasing an additional 2,647 shares during the last quarter. Finally, Sax Wealth Advisors LLC acquired a new position in Apple during the 4th quarter valued at about $21,925,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Citigroup reaffirmed a "buy" rating on shares of Apple in a report on Tuesday, June 10th. Bank of America reaffirmed a "buy" rating and set a $235.00 target price on shares of Apple in a research note on Tuesday, June 10th. Scotiabank cut Apple to a "market perform" rating in a research note on Friday, May 2nd. China Renaissance assumed coverage on shares of Apple in a research note on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price objective on the stock. Finally, Barclays set a $173.00 price objective on shares of Apple and gave the stock an "underweight" rating in a report on Tuesday, June 24th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Apple presently has a consensus rating of "Moderate Buy" and a consensus price target of $234.95.

Apple Stock Up 0.4%

NASDAQ:AAPL traded up $0.92 during mid-day trading on Friday, reaching $213.36. The stock had a trading volume of 34,955,836 shares, compared to its average volume of 53,618,682. The stock has a market cap of $3.19 trillion, a P/E ratio of 33.23, a PEG ratio of 2.37 and a beta of 1.20. The business's 50 day moving average is $203.26 and its 200 day moving average is $219.14. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same period last year, the business earned $1.53 EPS. The firm's revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

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. The ex-dividend date was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. Apple's dividend payout ratio (DPR) is presently 16.20%.

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

Insider Buying and Selling at Apple

In other news, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the sale, the chief financial officer directly owned 4,569 shares of the company's stock, valued at approximately $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the transaction, the insider directly owned 15,533 shares of the company's stock, 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.

Apple Company 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.