CBIZ Investment Advisory Services LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 93.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,056 shares of the iPhone maker's stock after selling 15,987 shares during the period. CBIZ Investment Advisory Services LLC's holdings in Apple were worth $235,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Conquis Financial LLC acquired a new position in shares of Apple in the fourth quarter valued at approximately $63,000. LSV Asset Management acquired a new position in shares of Apple in the fourth quarter valued at approximately $65,000. Elite Financial Inc. acquired a new position in shares of Apple in the first quarter valued at approximately $58,000. Pillar Financial Advisors LLC acquired a new position in shares of Apple in the fourth quarter valued at approximately $82,000. Finally, Sellwood Investment Partners LLC acquired a new position in shares of Apple in the fourth quarter valued at approximately $147,000. Institutional investors and hedge funds own 67.73% of the company's stock.
Insider Buying and Selling
In related news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the sale, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. This represents a 20.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is currently owned by company insiders.
Analyst Ratings Changes
AAPL has been the subject of several analyst reports. Jefferies Financial Group upgraded shares of Apple from an "underperform" rating to a "hold" rating in a report on Friday, July 18th. UBS Group boosted their price target on shares of Apple from $210.00 to $220.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Raymond James Financial reiterated an "outperform" rating and set a $240.00 price target (up previously from $230.00) on shares of Apple in a report on Friday, August 1st. BMO Capital Markets reiterated a "buy" rating on shares of Apple in a report on Wednesday, August 13th. Finally, Wedbush reiterated an "outperform" rating and set a $270.00 price target on shares of Apple in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and an average price target of $239.05.
Read Our Latest Stock Report on AAPL
Apple Stock Down 0.3%
Shares of NASDAQ:AAPL traded down $0.67 during trading on Thursday, hitting $237.81. 23,367,216 shares of the company were exchanged, compared to its average volume of 56,619,613. The stock has a market capitalization of $3.53 trillion, a P/E ratio of 36.11, a PEG ratio of 2.42 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The firm's 50 day moving average price is $217.73 and its 200-day moving average price is $212.92.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion during 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%. The company's revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.40 EPS. On average, research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were given a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple's dividend payout ratio is 15.78%.
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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