St. Clair Advisors LLC Has $20.16 Million Stake in Apple Inc. (NASDAQ:AAPL)

St. Clair Advisors LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,733 shares of the iPhone maker's stock after selling 1,843 shares during the period. Apple makes up about 5.6% of St. Clair Advisors LLC's holdings, making the stock its 5th biggest position. St. Clair Advisors LLC's holdings in Apple were worth $20,155,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Conquis Financial LLC acquired a new position in Apple during the 4th quarter worth about $63,000. LSV Asset Management bought a new stake in shares of Apple during the fourth quarter worth $65,000. Pillar Financial Advisors LLC bought a new stake in Apple during the 4th quarter worth about $82,000. Compass Planning Associates Inc acquired a new position in Apple during the fourth quarter valued at approximately $96,000. Finally, Collier Financial bought a new position in shares of Apple in the fourth quarter valued at $140,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AAPL shares. Loop Capital cut their price target on Apple from $230.00 to $215.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. TD Cowen lowered their price objective on Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Morgan Stanley upped their price target on shares of Apple from $235.00 to $240.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. UBS Group upped their price objective on Apple from $210.00 to $220.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Finally, Barclays raised their target price on shares of Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and a consensus price target of $237.60.

Insider Activity

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

Apple Stock Up 1.7%

NASDAQ:AAPL traded up $3.95 during trading hours on Wednesday, hitting $233.60. The stock had a trading volume of 55,591,683 shares, compared to its average volume of 57,968,047. The business has a 50 day simple moving average of $207.88 and a two-hundred day simple moving average of $213.21. The company has a market cap of $3.47 trillion, a PE ratio of 35.51, a price-to-earnings-growth ratio of 2.38 and a beta of 1.16. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share 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 net margin of 24.30% and a return on equity of 170.91%. The company's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.40 EPS. Analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 11th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, August 11th. Apple's payout ratio is presently 15.78%.

Apple announced that its board has authorized a share buyback program on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

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.