Apple Inc. (NASDAQ:AAPL) Stake Reduced by Rowlandmiller & PARTNERS.ADV

Rowlandmiller & PARTNERS.ADV reduced its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 136,268 shares of the iPhone maker's stock after selling 2,039 shares during the period. Apple comprises 6.4% of Rowlandmiller & PARTNERS.ADV's investment portfolio, making the stock its 2nd largest position. Rowlandmiller & PARTNERS.ADV's holdings in Apple were worth $30,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of AAPL. CX Institutional increased its stake in shares of Apple by 7.4% during the first quarter. CX Institutional now owns 189,978 shares of the iPhone maker's stock valued at $42,200,000 after buying an additional 13,013 shares during the period. Kozak & Associates Inc. increased its stake in shares of Apple by 1.0% during the first quarter. Kozak & Associates Inc. now owns 90,204 shares of the iPhone maker's stock valued at $18,268,000 after buying an additional 925 shares during the period. Trueblood Wealth Management LLC increased its stake in shares of Apple by 0.6% during the first quarter. Trueblood Wealth Management LLC now owns 35,509 shares of the iPhone maker's stock valued at $7,888,000 after buying an additional 195 shares during the period. Integral Investment Advisors Inc. grew its stake in Apple by 4.5% in the first quarter. Integral Investment Advisors Inc. now owns 41,762 shares of the iPhone maker's stock worth $9,277,000 after purchasing an additional 1,814 shares during the period. Finally, Ipsen Advisor Group LLC grew its stake in Apple by 4.5% in the first quarter. Ipsen Advisor Group LLC now owns 6,640 shares of the iPhone maker's stock worth $1,475,000 after purchasing an additional 283 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Down 0.6%

Shares of AAPL opened at $211.16 on Friday. The company has a market cap of $3.15 trillion, a PE ratio of 32.89, a P/E/G ratio of 2.36 and a beta of 1.20. The business has a fifty day moving average of $203.39 and a 200 day moving average of $217.12. Apple Inc. has a 52-week low of $169.21 and a 52-week 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.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The business had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business's revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.53 earnings per share. On average, sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current year.

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

Apple Increases Dividend

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

Insider Activity

In other Apple news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the sale, the chief financial officer directly owned 4,569 shares of the company's stock, valued at approximately $941,214. This represents a 50.01% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Monness Crespi & Hardt boosted their target price on Apple to $245.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Jefferies Financial Group raised Apple from an "underperform" rating to a "hold" rating and upped their price target for the company from $170.62 to $188.32 in a report on Tuesday, July 1st. Evercore ISI upped their price target on Apple to $250.00 and gave the company a "buy" rating in a report on Friday, June 6th. KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a report on Monday, April 14th. Finally, Tigress Financial upped their price objective on Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a research report on Thursday, April 3rd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Apple has an average rating of "Moderate Buy" and an average price target of $235.27.

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.

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