BSW Wealth Partners Sells 9,148 Shares of Apple Inc. (NASDAQ:AAPL)

BSW Wealth Partners decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 8.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 101,023 shares of the iPhone maker's stock after selling 9,148 shares during the quarter. Apple makes up about 3.4% of BSW Wealth Partners' holdings, making the stock its 7th biggest position. BSW Wealth Partners' holdings in Apple were worth $22,440,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Burkett Financial Services LLC boosted its position in shares of Apple by 0.6% during the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock valued at $3,199,000 after acquiring an additional 93 shares in the last quarter. Avid Wealth Partners LLC boosted its position in shares of Apple by 28.3% during the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock valued at $935,000 after acquiring an additional 930 shares in the last quarter. OneAscent Wealth Management LLC boosted its position in shares of Apple by 4.6% during the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock valued at $2,337,000 after acquiring an additional 409 shares in the last quarter. TruWealth Advisors LLC boosted its position in shares of Apple by 2.8% during the 1st quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker's stock valued at $42,045,000 after acquiring an additional 5,120 shares in the last quarter. Finally, Allstate Corp boosted its position in shares of Apple by 3,368.2% during the 4th quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock valued at $113,062,000 after acquiring an additional 438,471 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Stock Performance

Shares of AAPL traded up $3.95 during trading hours on Wednesday, hitting $233.60. The company had a trading volume of 55,591,683 shares, compared to its average volume of 57,968,047. The firm has a market cap of $3.47 trillion, a price-to-earnings ratio of 35.51, a PEG ratio of 2.38 and a beta of 1.16. The business has a fifty day moving average of $207.88 and a 200-day moving average of $213.21. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same period last year, the firm earned $1.40 earnings per share. Apple's revenue for the quarter was up 9.6% compared to the same quarter last year. Equities analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple declared that its board has approved 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 purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 11th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, August 11th. Apple's dividend payout ratio (DPR) is currently 15.78%.

Insider Buying and Selling

In related news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the transaction, the senior vice president directly owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AAPL. TD Cowen decreased their target price on shares of Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Needham & Company LLC restated a "hold" rating on shares of Apple in a research report on Friday, July 25th. Raymond James Financial restated an "outperform" rating and issued a $240.00 price target (up from $230.00) on shares of Apple in a research report on Friday, August 1st. BMO Capital Markets restated a "buy" rating on shares of Apple in a research report on Wednesday. Finally, Scotiabank lowered shares of Apple to a "market perform" rating in a research report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $237.60.

About Apple

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.