Caerus Investment Advisors LLC Sells 1,139 Shares of Apple Inc. $AAPL

Key Points

• Caerus Investment Advisors LLC has decreased its stake in Apple Inc. by 6.8%, holding 15,691 shares valued at approximately $3.49 million.
• Apple reported better-than-expected earnings with $1.57 EPS for the quarter, surpassing the consensus estimate of $1.43, and had a revenue of $94.04 billion.
• The company has initiated a $100 billion stock repurchase plan, indicating confidence in its stock value as being undervalued by its board.

Caerus Investment Advisors LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 6.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,691 shares of the iPhone maker's stock after selling 1,139 shares during the quarter. Apple comprises about 3.4% of Caerus Investment Advisors LLC's investment portfolio, making the stock its 10th largest position. Caerus Investment Advisors LLC's holdings in Apple were worth $3,485,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in AAPL. Tallon Kerry Patrick purchased a new stake in shares of Apple in the 4th quarter worth about $1,877,000. First National Bank of Hutchinson raised its stake in Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after purchasing an additional 6,982 shares during the last quarter. Capital & Planning LLC raised its stake in Apple by 10.7% in the 4th quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker's stock valued at $6,836,000 after purchasing an additional 2,647 shares during the last quarter. Eagle Capital Management LLC raised its stake in Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after purchasing an additional 272 shares during the last quarter. Finally, Brighton Jones LLC raised its stake in Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after purchasing an additional 69,207 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Deirdre O'brien sold 34,821 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Apple Stock Up 1.3%

Shares of NASDAQ:AAPL traded up $2.86 during trading on Friday, reaching $227.76. 42,431,176 shares of the company traded hands, compared to its average volume of 61,964,760. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The firm has a fifty day simple moving average of $212.52 and a 200 day simple moving average of $212.82. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The firm has a market cap of $3.38 trillion, a P/E ratio of 34.56, a price-to-earnings-growth ratio of 2.38 and a beta of 1.16.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same period last year, the business posted $1.40 EPS. Apple's revenue was up 9.6% compared to the same quarter last year. Analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple declared that its board has approved a share buyback plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. Apple's dividend payout ratio is currently 15.78%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Needham & Company LLC restated a "hold" rating on shares of Apple in a report on Friday, July 25th. Wedbush restated an "outperform" rating and issued a $270.00 price target on shares of Apple in a report on Thursday, August 7th. BMO Capital Markets restated a "buy" rating on shares of Apple in a report on Wednesday, August 13th. Raymond James Financial restated an "outperform" rating and issued a $240.00 price target (up previously from $230.00) on shares of Apple in a report on Friday, August 1st. Finally, JPMorgan Chase & Co. lifted their price target on Apple from $250.00 to $255.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $237.98.

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.