Chemistry Wealth Management LLC Sells 27,422 Shares of Apple Inc. (NASDAQ:AAPL)

Chemistry Wealth Management LLC lowered its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 21.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 103,185 shares of the iPhone maker's stock after selling 27,422 shares during the period. Apple comprises approximately 5.3% of Chemistry Wealth Management LLC's investment portfolio, making the stock its 3rd biggest position. Chemistry Wealth Management LLC's holdings in Apple were worth $22,921,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Apple by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock worth $349,532,608,000 after purchasing an additional 49,168,843 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Apple by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock worth $84,999,145,000 after purchasing an additional 6,307,413 shares in the last quarter. Norges Bank purchased a new stake in shares of Apple during the fourth quarter worth about $46,868,648,000. Northern Trust Corp increased its stake in shares of Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Apple by 14.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock worth $26,220,566,000 after purchasing an additional 13,137,968 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Trading Up 0.4%

Shares of AAPL stock traded up $0.92 during trading hours on Friday, hitting $213.36. The company had a trading volume of 34,955,836 shares, compared to its average volume of 53,594,994. The company's fifty day moving average is $203.35 and its 200 day moving average is $218.66. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The stock has a market capitalization of $3.19 trillion, a PE ratio of 33.23, a price-to-earnings-growth ratio of 2.38 and a beta of 1.20.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 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 firm had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same period in the prior year, the business posted $1.53 EPS. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. Research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

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

Apple Increases Dividend

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

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction that occurred 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 transaction, the insider owned 15,533 shares of the company's stock, valued at $3,233,815.27. This trade represents a 22.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction that occurred on 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 transaction, 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. Company insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Morgan Stanley reissued an "overweight" rating on shares of Apple in a research note on Friday, June 13th. Citigroup reaffirmed a "buy" rating on shares of Apple in a research note on Tuesday, June 10th. KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Apple in a research note on Wednesday, May 21st. Finally, Evercore ISI upped their price objective on shares of Apple to $250.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and a consensus price target of $234.95.

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.