Apple Inc. (NASDAQ:AAPL) Stock Holdings Lowered by Elevation Wealth Partners LLC

Elevation Wealth Partners LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 29,631 shares of the iPhone maker's stock after selling 1,490 shares during the quarter. Apple makes up 2.8% of Elevation Wealth Partners LLC's investment portfolio, making the stock its 7th largest position. Elevation Wealth Partners LLC's holdings in Apple were worth $6,587,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AAPL. Drystone LLC bought a new position in Apple in the 4th quarter worth about $25,000. Life Planning Partners Inc purchased a new stake in Apple during the fourth quarter valued at about $47,000. Conquis Financial LLC purchased a new position in Apple in the 4th quarter worth approximately $63,000. LSV Asset Management bought a new stake in Apple during the 4th quarter valued at $65,000. Finally, Pillar Financial Advisors LLC bought a new stake in shares of Apple in the fourth quarter worth about $82,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Apple from $245.00 to $230.00 and set an "overweight" rating for the company in a research note on Thursday, June 26th. Raymond James Financial decreased their target price on shares of Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Evercore ISI increased their price objective on Apple to $250.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Barclays set a $173.00 price objective on shares of Apple and gave the company an "underweight" rating in a research report on Tuesday, June 24th. Finally, China Renaissance began coverage on Apple in a research report on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Apple presently has a consensus rating of "Moderate Buy" and a consensus target price of $234.95.

Apple Trading Up 1.3%

Shares of NASDAQ:AAPL traded up $2.65 during trading hours on Tuesday, hitting $207.82. 78,634,226 shares of the company's stock traded hands, compared to its average volume of 53,588,359. The business has a fifty day moving average price of $202.85 and a 200-day moving average price of $219.53. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. The firm has a market capitalization of $3.10 trillion, a P/E ratio of 28.94, a price-to-earnings-growth ratio of 2.29 and a beta of 1.20.

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

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a dividend of $0.26 per share. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.50%. Apple's dividend payout ratio (DPR) is 16.20%.

Apple declared that its board has initiated a stock buyback plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the transaction, the insider directly owned 15,533 shares of the company's stock, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Timothy D. Cook sold 108,136 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the transaction, the chief executive officer owned 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. This trade represents a 3.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,507 shares of company stock valued at $42,694,080 over the last ninety days. Company insiders own 0.06% of the company's stock.

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.