Apple Inc. (NASDAQ:AAPL) is Moser Wealth Advisors LLC's 3rd Largest Position

Key Points

• Moser Wealth Advisors LLC reduced its stake in Apple Inc. by 6.1%, now holding 59,037 shares after selling 3,830 shares during the quarter.
• Apple reported a net margin of 24.30% and quarterly revenue of $94.04 billion, exceeding analysts' expectations of $88.64 billion.
• Apple's board has authorized a $100 billion share repurchase plan, indicating confidence in the company's stock value amidst ongoing market fluctuations.

Moser Wealth Advisors LLC reduced its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 6.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,037 shares of the iPhone maker's stock after selling 3,830 shares during the quarter. Apple comprises about 6.9% of Moser Wealth Advisors LLC's holdings, making the stock its 3rd biggest holding. Moser Wealth Advisors LLC's holdings in Apple were worth $13,114,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in Apple during the fourth quarter valued at approximately $46,868,648,000. GAMMA Investing LLC lifted its position in Apple by 25,934.1% during the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker's stock valued at $133,425,490,000 after purchasing an additional 59,835,676 shares during the last quarter. Vanguard Group Inc. lifted its position in Apple by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after purchasing an additional 49,168,843 shares during the last quarter. Proficio Capital Partners LLC lifted its position in Apple by 23,555.4% during the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock valued at $5,272,653,000 after purchasing an additional 20,966,232 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after purchasing an additional 20,079,472 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 transaction of $933,940.34. Following the sale, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AAPL shares. UBS Group lifted their price target on shares of Apple from $210.00 to $220.00 and gave the stock a "neutral" rating in a research note on Friday. Jefferies Financial Group raised shares of Apple from an "underperform" rating to a "hold" rating in a research note on Friday, July 18th. Citigroup lifted their price target on shares of Apple from $240.00 to $245.00 and gave the stock a "buy" rating in a research note on Friday. JPMorgan Chase & Co. lifted their price target on shares of Apple from $250.00 to $255.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, Raymond James Financial reissued an "outperform" rating and set a $240.00 price target (up from $230.00) on shares of Apple in a research note on Friday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and a consensus price target of $237.25.

Apple Stock Performance

Shares of NASDAQ:AAPL traded down $5.19 during trading on Friday, hitting $202.38. The company's stock had a trading volume of 97,423,066 shares, compared to its average volume of 44,912,472. The company has a 50-day moving average of $205.37 and a 200-day moving average of $213.60. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. The firm has a market cap of $3.02 trillion, a price-to-earnings ratio of 30.71, a P/E/G ratio of 2.22 and a beta of 1.17.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 172.48%. The firm had revenue of $94.04 billion for the quarter, compared to analysts' expectations of $88.64 billion. During the same quarter in the prior year, the business earned $1.40 EPS. The business's quarterly revenue was up 9.6% on a year-over-year basis. On average, sell-side analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple announced that its board 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 stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Monday, August 11th will be paid a dividend of $0.26 per share. The ex-dividend date is Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.5%. Apple's dividend payout ratio (DPR) is presently 15.78%.

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.