Apple Inc. (NASDAQ:AAPL) Shares Sold by BNC Wealth Management LLC

BNC Wealth Management LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 87,834 shares of the iPhone maker's stock after selling 1,604 shares during the period. Apple makes up about 7.0% of BNC Wealth Management LLC's holdings, making the stock its 3rd biggest position. BNC Wealth Management LLC's holdings in Apple were worth $19,511,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Drystone LLC acquired a new stake in shares of Apple in the 4th quarter worth approximately $25,000. Life Planning Partners Inc acquired a new stake in shares of Apple in the 4th quarter worth approximately $47,000. Conquis Financial LLC acquired a new stake in shares of Apple in the 4th quarter worth approximately $63,000. LSV Asset Management acquired a new stake in shares of Apple in the 4th quarter worth approximately $65,000. Finally, Pillar Financial Advisors LLC acquired a new stake in shares of Apple in the 4th quarter worth approximately $82,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Buying and Selling at Apple

In related news, CFO Kevan Parekh sold 4,570 shares of the 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 directly owned 4,569 shares in the company, valued at approximately $941,214. This represents a 50.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,486 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider owned 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This represents a 22.41% 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 corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Needham & Company LLC restated a "hold" rating on shares of Apple in a report on Tuesday, June 10th. Scotiabank lowered Apple to a "market perform" rating in a research note on Friday, May 2nd. Jefferies Financial Group raised Apple from an "underperform" rating to a "hold" rating in a research note on Friday. Bank of America reaffirmed a "buy" rating and issued a $235.00 target price on shares of Apple in a research note on Tuesday, June 10th. Finally, JPMorgan Chase & Co. upped their target price on Apple from $230.00 to $250.00 and gave the company an "overweight" rating in a research note on Thursday. 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 given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $235.11.

Apple Trading Up 0.6%

Shares of AAPL traded up $1.16 during trading hours on Friday, hitting $211.18. The stock had a trading volume of 48,647,642 shares, compared to its average volume of 53,181,146. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The firm has a market cap of $3.15 trillion, a P/E ratio of 32.89, a P/E/G ratio of 2.35 and a beta of 1.20. The company's fifty day simple moving average is $204.32 and its 200 day simple moving average is $216.12. 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 earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $94.04 billion. During the same period last year, the company posted $1.53 EPS. The business's quarterly revenue was up 5.1% on a year-over-year basis. Equities research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its Board of Directors has initiated a stock repurchase 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 stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Apple Increases Dividend

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

Apple 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.