Clarus Group Inc. Sells 3,554 Shares of Apple Inc. (NASDAQ:AAPL)

Clarus Group Inc. decreased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 8.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 38,791 shares of the iPhone maker's stock after selling 3,554 shares during the period. Apple comprises about 3.3% of Clarus Group Inc.'s holdings, making the stock its 9th largest holding. Clarus Group Inc.'s holdings in Apple were worth $8,617,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Conquis Financial LLC purchased a new stake in shares of Apple in the 4th quarter worth approximately $63,000. LSV Asset Management purchased a new stake in Apple during the 4th quarter valued at $65,000. Pillar Financial Advisors LLC purchased a new stake in Apple during the 4th quarter valued at $82,000. Compass Planning Associates Inc purchased a new stake in Apple during the 4th quarter valued at $96,000. Finally, Collier Financial purchased a new stake in Apple during the 4th quarter valued at $140,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Performance

NASDAQ AAPL traded down $2.06 on Friday, reaching $230.73. 31,276,517 shares of the company's stock traded hands, compared to its average volume of 57,842,020. The stock has a 50 day moving average price of $209.13 and a 200-day moving average price of $213.37. The firm has a market cap of $3.42 trillion, a price-to-earnings ratio of 35.01, a P/E/G ratio of 2.44 and a beta of 1.16. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

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

Apple announced that its board has initiated a stock repurchase program on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors 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 yield of 0.5%. Apple's dividend payout ratio is 15.78%.

Insider Buying and Selling

In related news, SVP Deirdre O'brien sold 34,821 shares of the company'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 completion of the transaction, the senior vice president owned 136,687 shares of the company's stock, 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 is accessible through this hyperlink. Company insiders own 0.06% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on AAPL shares. Jefferies Financial Group upgraded Apple from an "underperform" rating to a "hold" rating in a research note on Friday, July 18th. Wedbush reaffirmed an "outperform" rating and issued a $270.00 target price on shares of Apple in a report on Thursday, August 7th. Morgan Stanley increased their price target on Apple from $235.00 to $240.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Rosenblatt Securities reiterated a "neutral" rating and issued a $217.00 price target on shares of Apple in a research note on Tuesday, July 29th. Finally, Loop Capital cut their price target on Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Apple has a consensus rating of "Moderate Buy" and an average price target of $237.60.

About Apple

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.