Tenon Financial LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 10.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 11,673 shares of the iPhone maker's stock after selling 1,324 shares during the quarter. Apple comprises about 1.6% of Tenon Financial LLC's holdings, making the stock its 9th biggest holding. Tenon Financial LLC's holdings in Apple were worth $2,593,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in AAPL. Affinity Capital Advisors LLC boosted its stake in shares of Apple by 4.9% in the 1st quarter. Affinity Capital Advisors LLC now owns 165,160 shares of the iPhone maker's stock worth $36,687,000 after buying an additional 7,645 shares during the last quarter. Dohj LLC boosted its stake in shares of Apple by 10.3% during the 1st quarter. Dohj LLC now owns 23,616 shares of the iPhone maker's stock worth $5,246,000 after acquiring an additional 2,210 shares during the last quarter. McBroom & Associates LLC raised its holdings in Apple by 1.8% in the 1st quarter. McBroom & Associates LLC now owns 38,375 shares of the iPhone maker's stock worth $8,524,000 after purchasing an additional 695 shares during the period. Family Wealth Partners LLC lifted its position in shares of Apple by 25.0% during the 1st quarter. Family Wealth Partners LLC now owns 1,571 shares of the iPhone maker's stock valued at $349,000 after buying an additional 314 shares in the last quarter. Finally, Scratch Capital LLC raised its stake in Apple by 11.8% during the 1st quarter. Scratch Capital LLC now owns 988 shares of the iPhone maker's stock worth $219,000 after acquiring an additional 104 shares during the period. Institutional investors own 67.73% of the company's stock.
Apple Stock Up 0.6%
Shares of NASDAQ AAPL traded up $1.16 during trading hours on Friday, hitting $211.18. 48,647,642 shares of the stock were exchanged, compared to its average volume of 53,145,744. The firm has a fifty day moving average price of $204.57 and a 200-day moving average price of $215.85. The company has a market cap of $3.15 trillion, a PE ratio of 32.89, a PEG ratio of 2.36 and a beta of 1.20. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The company had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The firm's revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.53 EPS. On average, sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current year.
Apple Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. This is a positive change from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple's payout ratio is 16.20%.
Apple declared that its board has authorized a stock repurchase plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.
Wall Street Analyst Weigh In
Several research firms recently issued reports on AAPL. Loop Capital cut their target price on Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Evercore ISI boosted their target price on Apple to $250.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. China Renaissance initiated coverage on Apple in a research report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 target price for the company. Wedbush reiterated an "outperform" rating and set a $270.00 price objective on shares of Apple in a research report on Wednesday, July 9th. Finally, Raymond James Financial dropped their price target on Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and a consensus target price of $235.11.
Get Our Latest Analysis on AAPL
Insider Buying and Selling at Apple
In other 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 value of $941,420.00. Following the completion of the sale, the chief financial officer directly owned 4,569 shares in the company, valued at $941,214. The trade was a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction that occurred on 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 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. Insiders own 0.06% of the company's stock.
About Apple
(
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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