Apple Inc. (NASDAQ:AAPL) is Burr Financial Services LLC's 10th Largest Position

Burr Financial Services LLC lowered its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 29.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,872 shares of the iPhone maker's stock after selling 4,579 shares during the quarter. Apple comprises about 1.9% of Burr Financial Services LLC's portfolio, making the stock its 10th largest position. Burr Financial Services LLC's holdings in Apple were worth $2,415,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AAPL. Veery Capital LLC increased its stake in Apple by 9.3% in the first quarter. Veery Capital LLC now owns 11,762 shares of the iPhone maker's stock worth $2,613,000 after purchasing an additional 997 shares during the period. Marion Wealth Management boosted its stake in shares of Apple by 3.4% during the first quarter. Marion Wealth Management now owns 37,643 shares of the iPhone maker's stock valued at $8,362,000 after purchasing an additional 1,241 shares during the period. Boston Standard Wealth Management LLC grew its holdings in shares of Apple by 10.0% in the first quarter. Boston Standard Wealth Management LLC now owns 4,000 shares of the iPhone maker's stock worth $843,000 after purchasing an additional 364 shares during the last quarter. Asset Management Advisors LLC increased its stake in Apple by 0.3% in the 1st quarter. Asset Management Advisors LLC now owns 33,962 shares of the iPhone maker's stock worth $7,544,000 after buying an additional 87 shares during the period. Finally, Catalyst Private Wealth LLC increased its stake in Apple by 0.6% in the 1st quarter. Catalyst Private Wealth LLC now owns 12,307 shares of the iPhone maker's stock worth $2,734,000 after buying an additional 78 shares during the period. Institutional investors own 67.73% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AAPL shares. KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a report on Tuesday, June 10th. Rosenblatt Securities cut Apple from a "buy" rating to a "neutral" rating and set a $217.00 price objective on the stock. in a research note on Friday, May 2nd. Bank of America restated a "buy" rating and set a $235.00 price objective on shares of Apple in a report on Tuesday, June 10th. Finally, UBS Group reiterated a "buy" rating on shares of Apple in a report on Sunday, June 1st. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $234.39.

Insider Activity at Apple

In other Apple news, COO Jeffrey E. Williams sold 35,493 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the sale, the chief operating officer now owns 390,059 shares in the company, valued at approximately $87,377,116.59. The trade was a 8.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the transaction, the chief executive officer now owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. The trade was a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,507 shares of company stock valued at $42,694,080 in the last three months. 0.06% of the stock is owned by insiders.

Apple Stock Up 0.0%

Shares of AAPL traded up $0.08 during midday trading on Friday, hitting $201.08. 73,073,177 shares of the company's stock traded hands, compared to its average volume of 53,462,167. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $3.00 trillion, a price-to-earnings ratio of 31.32, a price-to-earnings-growth ratio of 2.25 and a beta of 1.22. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The firm's fifty day moving average is $202.52 and its 200-day moving average is $220.53.

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

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. This is an increase from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is 16.20%.

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