Apple Inc. (NASDAQ:AAPL) Shares Sold by Perissos Private Wealth Management LLC

Perissos Private Wealth Management LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 80.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,513 shares of the iPhone maker's stock after selling 10,417 shares during the quarter. Perissos Private Wealth Management LLC's holdings in Apple were worth $558,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Life Planning Partners Inc acquired a new stake in Apple in the fourth quarter worth about $47,000. Conquis Financial LLC acquired a new stake in Apple in the fourth quarter worth about $63,000. LSV Asset Management acquired a new stake in Apple in the fourth quarter worth about $65,000. Pillar Financial Advisors LLC acquired a new stake in Apple in the fourth quarter worth about $82,000. Finally, Compass Planning Associates Inc acquired a new stake in Apple in the fourth quarter worth about $96,000. 67.73% of the stock is currently owned by institutional investors.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the sale, the senior vice president owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.06% of the company's stock.

Apple Trading Down 0.5%

Shares of NASDAQ:AAPL traded down $1.19 during midday trading on Friday, reaching $231.59. The company's stock had a trading volume of 56,003,275 shares, compared to its average volume of 63,552,584. The firm has a market cap of $3.44 trillion, a price-to-earnings ratio of 35.14, a price-to-earnings-growth ratio of 2.42 and a beta of 1.16. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The business has a 50 day moving average price of $209.69 and a 200 day moving average price of $213.14.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%. The business's revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.40 earnings per share. Research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its board has initiated a share buyback plan on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple's payout ratio is 15.78%.

Analyst Ratings Changes

AAPL has been the subject of several recent analyst reports. Barclays raised their price target on Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a report on Friday, August 1st. China Renaissance initiated coverage on Apple in a report on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 price target for the company. Scotiabank downgraded Apple to a "market perform" rating in a report on Friday, May 2nd. Needham & Company LLC reissued a "hold" rating on shares of Apple in a report on Friday, July 25th. Finally, Wedbush reaffirmed an "outperform" rating and set a $270.00 target price on shares of Apple in a report on Thursday, August 7th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $237.60.

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.