Blodgett Wealth Advisors LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,619 shares of the iPhone maker's stock after selling 4,038 shares during the quarter. Apple makes up approximately 12.2% of Blodgett Wealth Advisors LLC's investment portfolio, making the stock its 2nd biggest holding. Blodgett Wealth Advisors LLC's holdings in Apple were worth $14,354,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of AAPL. Affinity Capital Advisors LLC raised its stake in shares of Apple by 4.9% during the 1st quarter. Affinity Capital Advisors LLC now owns 165,160 shares of the iPhone maker's stock worth $36,687,000 after acquiring an additional 7,645 shares in the last quarter. Dohj LLC increased its position in shares of Apple by 10.3% during the first quarter. Dohj LLC now owns 23,616 shares of the iPhone maker's stock worth $5,246,000 after purchasing an additional 2,210 shares in the last quarter. McBroom & Associates LLC lifted its holdings in shares of Apple by 1.8% during the 1st quarter. McBroom & Associates LLC now owns 38,375 shares of the iPhone maker's stock valued at $8,524,000 after purchasing an additional 695 shares during the last quarter. Family Wealth Partners LLC lifted its holdings in shares of Apple by 25.0% during the 1st quarter. Family Wealth Partners LLC now owns 1,571 shares of the iPhone maker's stock valued at $349,000 after purchasing an additional 314 shares during the last quarter. Finally, Scratch Capital LLC boosted its position in shares of Apple by 11.8% in the 1st quarter. Scratch Capital LLC now owns 988 shares of the iPhone maker's stock worth $219,000 after purchasing an additional 104 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction 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 transaction, the insider directly owned 15,533 shares in the company, valued at $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer owned 4,569 shares in the company, valued at approximately $941,214. This trade represents a 50.01% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.
Apple Price Performance
NASDAQ AAPL traded up $1.16 during mid-day trading on Friday, hitting $211.18. The stock had a trading volume of 48,647,642 shares, compared to its average volume of 53,145,744. The company has a market cap of $3.15 trillion, a price-to-earnings ratio of 32.89, a P/E/G ratio of 2.36 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 Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company has a 50 day simple moving average of $204.57 and a 200 day simple moving average of $215.85.
Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. Apple's revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.53 earnings per share. Equities analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple announced that its Board of Directors has authorized a share repurchase program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.
Apple Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors 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 dividend on an annualized basis and a yield of 0.49%. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is currently 16.20%.
Analyst Upgrades and Downgrades
Several analysts recently commented on the company. Barclays set a $173.00 target price on Apple and gave the stock an "underweight" rating in a report on Tuesday, June 24th. KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a report on Monday, April 14th. Citigroup reissued a "buy" rating on shares of Apple in a research note on Tuesday, June 10th. UBS Group reissued a "hold" rating on shares of Apple in a research report on Friday. Finally, Rosenblatt Securities cut Apple from a "buy" rating to a "neutral" rating and set a $217.00 price objective on the stock. in a report on Friday, May 2nd. 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $235.11.
Check Out Our Latest Stock Analysis on Apple
Apple Company Profile
(
Free Report)
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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