Apple Inc. (NASDAQ:AAPL) Stock Holdings Trimmed by Etesian Wealth Advisors Inc.

Key Points

• Etesian Wealth Advisors Inc. reduced its holdings in Apple Inc. by 5.5%, owning 31,621 shares valued at approximately $7.02 million, making it the firm's 8th largest position.
• Apple reported a 9.6% year-over-year increase in revenue, with quarterly earnings of $1.57 EPS, surpassing analysts' expectations of $1.43 EPS.
• The company initiated a $100 billion share repurchase program, signaling confidence that its shares are undervalued.

Etesian Wealth Advisors Inc. decreased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,621 shares of the iPhone maker's stock after selling 1,838 shares during the quarter. Apple comprises 3.0% of Etesian Wealth Advisors Inc.'s investment portfolio, making the stock its 8th largest holding. Etesian Wealth Advisors Inc.'s holdings in Apple were worth $7,024,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Life Planning Partners Inc acquired a new position in shares of Apple in the fourth quarter valued at $47,000. Conquis Financial LLC acquired a new position in shares of Apple in the fourth quarter valued at $63,000. LSV Asset Management acquired a new position in Apple during the fourth quarter worth $65,000. Pillar Financial Advisors LLC acquired a new position in Apple during the fourth quarter worth $82,000. Finally, Compass Planning Associates Inc acquired a new position in Apple during the fourth quarter worth $96,000. Institutional investors own 67.73% of the company's stock.

Apple Stock Performance

NASDAQ AAPL traded up $2.56 on Tuesday, hitting $229.74. 41,781,765 shares of the stock traded hands, compared to its average volume of 57,888,410. The business's fifty day moving average is $207.35 and its two-hundred day moving average is $213.10. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The firm has a market capitalization of $3.41 trillion, a price-to-earnings ratio of 34.86, a PEG ratio of 2.40 and a beta of 1.16. 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 released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%. The company had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same period in the previous year, the company posted $1.40 EPS. The firm's revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, equities analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

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

Apple Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Monday, August 11th will be paid a $0.26 dividend. The ex-dividend date is Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.5%. Apple's dividend payout ratio (DPR) is currently 15.78%.

Wall Street Analyst Weigh In

AAPL has been the subject of several recent analyst reports. Raymond James Financial reiterated an "outperform" rating and set a $240.00 price objective (up from $230.00) on shares of Apple in a research note on Friday, August 1st. JPMorgan Chase & Co. raised their price target on Apple from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research report on Friday, July 25th. KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Apple in a research report on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $237.60.

Apple 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.