Apple Inc. (NASDAQ:AAPL) is Atlas Private Wealth Advisors' 9th Largest Position

Atlas Private Wealth Advisors decreased its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 95,986 shares of the iPhone maker's stock after selling 1,425 shares during the quarter. Apple comprises about 3.0% of Atlas Private Wealth Advisors' portfolio, making the stock its 9th largest holding. Atlas Private Wealth Advisors' holdings in Apple were worth $21,321,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tallon Kerry Patrick purchased a new stake in Apple during the fourth quarter valued at $1,877,000. First National Bank of Hutchinson raised its stake in Apple by 24.6% during the fourth 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 in the last quarter. Capital & Planning LLC raised its stake in Apple by 10.7% during the fourth 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 in the last quarter. Eagle Capital Management LLC raised its stake in Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after purchasing an additional 272 shares in the last quarter. Finally, Brighton Jones LLC raised its stake in Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after purchasing an additional 69,207 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AAPL. Bank of America reissued a "buy" rating and issued a $235.00 target price on shares of Apple in a research note on Tuesday, June 10th. Raymond James Financial reduced their target price on shares of Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Evercore ISI increased their target price on shares of Apple to $250.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Rosenblatt Securities downgraded shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 target price on the stock. in a research note on Friday, May 2nd. Finally, Scotiabank downgraded shares of Apple to a "market perform" rating in a research note on Friday, May 2nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $235.11.

Apple Stock Up 0.8%

Apple stock traded up $1.68 during midday trading on Tuesday, hitting $214.16. 25,198,720 shares of the company's stock were exchanged, compared to its average volume of 53,032,198. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The firm has a 50-day moving average of $204.57 and a two-hundred day moving average of $215.41. The company has a market cap of $3.20 trillion, a PE ratio of 33.34, a P/E/G ratio of 2.36 and a beta of 1.20.

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

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a $0.26 dividend. This is a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio (DPR) is currently 16.20%.

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

Insider Transactions at Apple

In other news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the sale, the insider directly owned 15,533 shares in the company, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the sale, the chief financial officer owned 4,569 shares in the company, valued at $941,214. This represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

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.