Apple Inc. (NASDAQ:AAPL) is Fairvoy Private Wealth LLC's 8th Largest Position

Fairvoy Private Wealth LLC cut its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 7.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,260 shares of the iPhone maker's stock after selling 3,654 shares during the quarter. Apple accounts for 2.8% of Fairvoy Private Wealth LLC's portfolio, making the stock its 8th largest position. Fairvoy Private Wealth LLC's holdings in Apple were worth $10,054,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Drystone LLC purchased a new position in shares of Apple during the fourth quarter valued at approximately $25,000. Conquis Financial LLC purchased a new stake in shares of Apple in the fourth quarter worth approximately $63,000. LSV Asset Management purchased a new position in shares of Apple in the 4th quarter valued at $65,000. Pillar Financial Advisors LLC purchased a new position in Apple during the 4th quarter worth $82,000. Finally, Compass Planning Associates Inc purchased a new stake in shares of Apple during the fourth quarter worth about $96,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Stock Performance

NASDAQ AAPL traded up $1.13 on Monday, reaching $212.31. 40,713,768 shares of the stock were exchanged, compared to its average volume of 53,135,758. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The firm has a market capitalization of $3.17 trillion, a PE ratio of 33.05, a PEG ratio of 2.36 and a beta of 1.20. The company's 50-day simple moving average is $204.57 and its two-hundred day simple moving average is $215.41.

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, topping the consensus estimate of $1.62 by $0.03. The company had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. Apple's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.53 EPS. Analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were issued a $0.26 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.49%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is presently 16.20%.

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

Analyst Ratings Changes

Several research firms have weighed in on AAPL. TD Cowen lowered their target price on shares of Apple from $290.00 to $275.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Morgan Stanley reiterated an "overweight" rating on shares of Apple in a report on Friday, June 13th. UBS Group reaffirmed a "hold" rating on shares of Apple in a report on Friday. JPMorgan Chase & Co. upped their price objective on shares of Apple from $230.00 to $250.00 and gave the company an "overweight" rating in a report on Thursday. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Apple in a report on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Apple presently has an average rating of "Moderate Buy" and an average price target of $235.11.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,486 shares of the stock in a transaction dated Monday, May 12th. The stock was 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 of the company's stock, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 completion of the transaction, the chief financial officer directly owned 4,569 shares in the company, valued at $941,214. This trade represents a 50.01% 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.

About Apple

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.