Apple Inc. $AAPL Shares Sold by Fairway Wealth LLC

Fairway Wealth LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 77.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,155 shares of the iPhone maker's stock after selling 3,963 shares during the quarter. Fairway Wealth LLC's holdings in Apple were worth $256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the company. U.S. Capital Wealth Advisors LLC lifted its stake in shares of Apple by 3.0% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 412,924 shares of the iPhone maker's stock worth $91,723,000 after purchasing an additional 12,002 shares during the period. Pacific Point Advisors LLC grew its position in shares of Apple by 0.9% during the first quarter. Pacific Point Advisors LLC now owns 14,990 shares of the iPhone maker's stock worth $3,330,000 after purchasing an additional 128 shares in the last quarter. Security National Bank of SO Dak lifted its holdings in shares of Apple by 3.7% in the first quarter. Security National Bank of SO Dak now owns 44,679 shares of the iPhone maker's stock worth $9,925,000 after buying an additional 1,611 shares in the last quarter. Liberty Square Wealth Partners LLC boosted its holdings in shares of Apple by 2.8% during the 1st quarter. Liberty Square Wealth Partners LLC now owns 75,991 shares of the iPhone maker's stock valued at $16,880,000 after purchasing an additional 2,043 shares during the last quarter. Finally, YANKCOM Partnership increased its position in Apple by 1.0% in the first quarter. YANKCOM Partnership now owns 23,594 shares of the iPhone maker's stock worth $5,241,000 after purchasing an additional 235 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

Apple Trading Up 0.2%

Shares of AAPL stock traded up $0.45 during trading on Thursday, hitting $230.94. 7,121,567 shares of the stock traded hands, compared to its average volume of 56,761,738. The firm has a market capitalization of $3.43 trillion, a P/E ratio of 35.04, a price-to-earnings-growth ratio of 2.39 and a beta of 1.16. 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 52-week low of $169.21 and a 52-week high of $260.10. The firm's fifty day moving average price is $214.45 and its 200-day moving average price is $213.05.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company's quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the company earned $1.40 EPS. As a group, research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

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

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Monday, August 11th. Apple's dividend payout ratio is presently 15.78%.

Insider Activity

In other news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on AAPL shares. BMO Capital Markets reaffirmed a "buy" rating on shares of Apple in a research note on Wednesday, August 13th. Raymond James Financial reissued an "outperform" rating and issued a $240.00 price target (up from $230.00) on shares of Apple in a research report on Friday, August 1st. Bank of America reaffirmed a "buy" rating and issued a $250.00 price target on shares of Apple in a report on Monday. UBS Group boosted their price target on Apple from $210.00 to $220.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Finally, Wedbush reaffirmed an "outperform" rating and issued a $270.00 price objective on shares of Apple in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $237.37.

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.