LexAurum Advisors LLC Sells 2,048 Shares of Apple Inc. (NASDAQ:AAPL)

LexAurum Advisors LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,402 shares of the iPhone maker's stock after selling 2,048 shares during the period. Apple makes up about 2.8% of LexAurum Advisors LLC's investment portfolio, making the stock its 8th largest position. LexAurum Advisors LLC's holdings in Apple were worth $14,750,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Drystone LLC purchased a new stake in shares of Apple during the fourth quarter valued at $25,000. Conquis Financial LLC purchased a new stake in shares of Apple during the fourth quarter valued at $63,000. LSV Asset Management purchased a new stake in shares of Apple during the fourth quarter valued at $65,000. Pillar Financial Advisors LLC purchased a new stake in shares of Apple during the fourth quarter valued at $82,000. Finally, Compass Planning Associates Inc purchased a new stake in shares of Apple during the fourth quarter valued at $96,000. Institutional investors own 67.73% of the company's stock.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,486 shares of the 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 transaction, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer directly owned 4,569 shares in the company, valued at $941,214. The trade was 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 corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on AAPL shares. Tigress Financial boosted their target price on shares of Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a research note on Thursday, April 3rd. DA Davidson upped their target price on Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Bank of America restated a "buy" rating and set a $235.00 price target 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. Finally, Barclays set a $173.00 target price on shares of Apple and gave the company an "underweight" rating in a research report on Tuesday, June 24th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Apple has an average rating of "Moderate Buy" and an average target price of $235.27.

Apple Stock Down 0.6%

Shares of AAPL traded down $1.25 during mid-day trading on Friday, hitting $211.16. 39,713,698 shares of the company traded hands, compared to its average volume of 53,392,190. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $3.15 trillion, a PE ratio of 32.89, a price-to-earnings-growth ratio of 2.36 and a beta of 1.20. The business has a 50 day moving average of $203.27 and a 200 day moving average of $217.73.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $94.04 billion. During the same quarter in the prior year, the company posted $1.53 earnings per share. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. Equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its Board of Directors has approved a share repurchase program on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Apple Increases Dividend

The firm 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 represents a $1.04 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is 16.20%.

Apple Company 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.