Intellectus Partners LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 20.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,797 shares of the iPhone maker's stock after selling 5,076 shares during the quarter. Apple comprises about 1.1% of Intellectus Partners LLC's holdings, making the stock its 17th largest position. Intellectus Partners LLC's holdings in Apple were worth $4,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also modified their holdings of the stock. Drystone LLC acquired a new stake in shares of Apple during the 4th quarter worth $25,000. Life Planning Partners Inc purchased a new stake in Apple during the fourth quarter valued at about $47,000. Conquis Financial LLC acquired a new stake in Apple during the fourth quarter worth about $63,000. LSV Asset Management purchased a new position in shares of Apple in the 4th quarter worth about $65,000. Finally, Pillar Financial Advisors LLC acquired a new position in shares of Apple in the 4th quarter valued at about $82,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the stock. Rosenblatt Securities downgraded shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 target price for the company. in a research report on Friday, May 2nd. Bank of America restated a "buy" rating and set a $235.00 target price on shares of Apple in a report on Tuesday, June 10th. Jefferies Financial Group raised Apple from an "underperform" rating to a "hold" rating and raised their price objective for the company from $170.62 to $188.32 in a research report on Tuesday. China Renaissance assumed coverage on Apple in a research report on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 target price for the company. Finally, Raymond James Financial lowered their target price on Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $234.95.
Get Our Latest Stock Analysis on Apple
Insider Activity at Apple
In other Apple news, CFO Kevan Parekh sold 4,570 shares of Apple 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 transaction, the chief financial officer directly owned 4,569 shares in the company, valued at approximately $941,214. The trade was a 50.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company's stock.
Apple Price Performance
NASDAQ AAPL opened at $213.36 on Friday. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The business's fifty day moving average is $203.35 and its two-hundred day moving average is $218.86. The stock has a market capitalization of $3.19 trillion, a P/E ratio of 33.23, a P/E/G ratio of 2.38 and a beta of 1.20. 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 (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 analysts' consensus estimates 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 analysts' expectations of $94.04 billion. During the same period in the previous year, the firm posted $1.53 EPS. The company's quarterly revenue was up 5.1% on a year-over-year basis. On average, research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. This is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio (DPR) is presently 16.20%.
Apple declared that its Board of Directors has authorized a share repurchase plan on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its stock is undervalued.
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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