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Apple Inc. (NASDAQ:AAPL) Shares Sold by Central Valley Advisors LLC

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Central Valley Advisors LLC decreased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 20.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 48,202 shares of the iPhone maker's stock after selling 12,489 shares during the period. Apple makes up 4.1% of Central Valley Advisors LLC's portfolio, making the stock its 3rd largest position. Central Valley Advisors LLC's holdings in Apple were worth $10,707,000 at the end of the most recent quarter.

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

Apple Stock Performance

NASDAQ AAPL opened at $211.16 on Friday. The firm has a 50-day moving average of $203.39 and a 200-day moving average of $217.41. 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 stock has a market cap of $3.15 trillion, a PE ratio of 32.89, a P/E/G ratio of 2.38 and a beta of 1.20. Apple Inc. has a 52-week low of $169.21 and a 52-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 (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the business posted $1.53 earnings per share. On average, sell-side analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its board has authorized a share repurchase 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 stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a dividend of $0.26 per share. This is a boost 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 was Monday, May 12th. Apple's dividend payout ratio (DPR) is presently 16.20%.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction 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 trade represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of Apple 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 sale, the chief financial officer directly owned 4,569 shares of the company's stock, valued at $941,214. This represents a 50.01% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AAPL shares. Barclays set a $173.00 price target on shares of Apple and gave the company an "underweight" rating in a report on Tuesday, June 24th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Apple in a research note on Wednesday, May 21st. China Renaissance started coverage on Apple in a research report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price objective for the company. Wedbush reaffirmed an "outperform" rating and set a $270.00 price objective on shares of Apple in a research report on Wednesday. Finally, Citigroup reaffirmed a "buy" rating on shares of Apple in a research note on Tuesday, June 10th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and an average price target of $235.27.

Read Our Latest Stock Analysis on AAPL

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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