Apple Inc. (NASDAQ:AAPL) Shares Sold by Consilium Wealth Advisory LLC

Consilium Wealth Advisory LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 71,321 shares of the iPhone maker's stock after selling 1,276 shares during the period. Apple comprises approximately 7.9% of Consilium Wealth Advisory LLC's holdings, making the stock its 3rd largest position. Consilium Wealth Advisory LLC's holdings in Apple were worth $15,843,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Drystone LLC bought a new position in Apple in the 4th quarter worth $25,000. Life Planning Partners Inc bought a new position in Apple in the 4th quarter worth $47,000. Conquis Financial LLC bought a new position in Apple in the 4th quarter worth $63,000. LSV Asset Management bought a new position in Apple in the 4th quarter worth $65,000. Finally, Pillar Financial Advisors LLC bought a new position in Apple in the 4th quarter worth $82,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the sale, the insider directly owned 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.06% of the company's stock.

Apple Stock Up 0.1%

NASDAQ AAPL traded up $0.12 on Friday, hitting $213.88. The stock had a trading volume of 38,805,177 shares, compared to its average volume of 49,464,392. The business's fifty day moving average price is $204.77 and its 200 day moving average price is $214.58. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The stock has a market cap of $3.19 trillion, a price-to-earnings ratio of 33.31, a price-to-earnings-growth ratio of 2.39 and a beta of 1.20.

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

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

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were issued a $0.26 dividend. This is a positive change from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. Apple's payout ratio is currently 16.20%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AAPL shares. Morgan Stanley reaffirmed an "overweight" rating on shares of Apple in a report on Friday, June 13th. Evercore ISI increased their price objective on shares of Apple to $250.00 and gave the company a "buy" rating in a report on Friday, June 6th. Wedbush reissued an "outperform" rating and set a $270.00 price objective on shares of Apple in a report on Wednesday, July 9th. JPMorgan Chase & Co. increased their price objective on shares of Apple from $230.00 to $250.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Finally, China Renaissance assumed coverage on shares of Apple in a report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $234.94.

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.