Calton & Associates Inc. Has $473,000 Stock Position in Apple Inc. $AAPL

Key Points

• Calton & Associates Inc. reduced its stake in Apple Inc. by 94.6%, selling 40,205 shares and ending with a total of 2,282 shares valued at approximately $473,000.
• Several large investors, including First National Bank of Hutchinson and Brighton Jones LLC, increased their holdings in Apple, with Brighton Jones raising its position by 14.8% to own over 537,000 shares valued at $134.5 million.
• Apple's recent earnings report showed a 9.6% year-over-year revenue increase to $94.04 billion, exceeding consensus estimates, and the company declared a quarterly dividend of $0.26 per share.

Calton & Associates Inc. lowered its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 94.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,282 shares of the iPhone maker's stock after selling 40,205 shares during the quarter. Calton & Associates Inc.'s holdings in Apple were worth $473,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Burkett Financial Services LLC increased its position in shares of Apple by 0.6% during the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock worth $3,199,000 after purchasing an additional 93 shares in the last quarter. Avid Wealth Partners LLC grew its holdings in Apple by 28.3% during the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock worth $935,000 after acquiring an additional 930 shares during the last quarter. OneAscent Wealth Management LLC grew its holdings in Apple by 4.6% during the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock worth $2,337,000 after acquiring an additional 409 shares during the last quarter. TruWealth Advisors LLC grew its holdings in Apple by 2.8% during the 1st quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker's stock worth $42,045,000 after acquiring an additional 5,120 shares during the last quarter. Finally, Allstate Corp grew its holdings in Apple by 3,368.2% during the 4th quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock worth $113,062,000 after acquiring an additional 438,471 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Trading Up 3.2%

Shares of NASDAQ:AAPL traded up $7.30 during mid-day trading on Wednesday, reaching $237.02. The stock had a trading volume of 40,885,420 shares, compared to its average volume of 56,657,605. The firm has a market cap of $3.52 trillion, a PE ratio of 35.97, a price-to-earnings-growth ratio of 2.42 and a beta of 1.11. The firm has a 50 day simple moving average of $216.99 and a two-hundred day simple moving average of $212.75. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10.

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

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio (DPR) is 15.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AAPL shares. DA Davidson reissued a "buy" rating and set a $250.00 price objective on shares of Apple in a report on Friday, August 1st. Wedbush reissued an "outperform" rating and set a $270.00 price objective on shares of Apple in a report on Wednesday. Evercore ISI reissued an "outperform" rating and set a $250.00 price objective on shares of Apple in a report on Wednesday, August 13th. Citigroup increased their price objective on shares of Apple from $240.00 to $245.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, Needham & Company LLC reissued a "hold" rating on shares of Apple in a report on Friday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen 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, Apple currently has an average rating of "Moderate Buy" and a consensus target price of $237.73.

Insider Buying and Selling

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction that occurred 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 sale, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.06% of the company's stock.

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.