BCS Wealth Management Has $3.84 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

BCS Wealth Management reduced its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 49.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 17,286 shares of the iPhone maker's stock after selling 16,822 shares during the period. Apple makes up approximately 1.0% of BCS Wealth Management's holdings, making the stock its 29th biggest holding. BCS Wealth Management's holdings in Apple were worth $3,840,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings 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 worth $349,532,608,000 after purchasing an additional 49,168,843 shares during the period. Geode Capital Management LLC grew its holdings in Apple by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock valued at $84,999,145,000 after buying an additional 6,307,413 shares in the last quarter. Norges Bank bought a new position in Apple during the 4th quarter worth $46,868,648,000. Northern Trust Corp lifted its holdings in shares of Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after buying an additional 20,079,472 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Apple by 14.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock valued at $26,220,566,000 after acquiring an additional 13,137,968 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Insider Transactions at Apple

In related news, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the sale, the chief financial officer directly owned 4,569 shares of the company's stock, valued at $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the transaction, the insider directly owned 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Raymond James Financial reduced their target price on Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Evercore ISI lifted their price objective on shares of Apple to $250.00 and gave the company a "buy" rating in a research note on Friday, June 6th. JPMorgan Chase & Co. reduced their target price on Apple from $245.00 to $230.00 and set an "overweight" rating on the stock in a report on Thursday, June 26th. Needham & Company LLC restated a "hold" rating on shares of Apple in a research report on Tuesday, June 10th. Finally, Bank of America reissued a "buy" rating and set a $235.00 target price on shares of Apple in a research note on Tuesday, June 10th. Two analysts have rated the stock with a sell rating, thirteen 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.com, Apple currently has a consensus rating of "Moderate Buy" and an average target price of $234.95.

Apple Stock Up 0.0%

AAPL stock opened at $210.01 on Wednesday. The stock has a 50-day simple moving average of $203.32 and a two-hundred day simple moving average of $218.08. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The firm has a market capitalization of $3.14 trillion, a PE ratio of 32.71, a PEG ratio of 2.34 and a beta of 1.20. 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 posted its earnings results 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. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. During the same period in the prior year, the company posted $1.53 EPS. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its board has initiated a share repurchase program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to purchase 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 stock is undervalued.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.50%. This is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple's payout ratio is presently 16.20%.

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.

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