Apple Inc. (NASDAQ:AAPL) is Good Life Advisors LLC's 7th Largest Position

Good Life Advisors LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 8.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 161,437 shares of the iPhone maker's stock after selling 15,301 shares during the period. Apple accounts for approximately 2.5% of Good Life Advisors LLC's portfolio, making the stock its 7th largest holding. Good Life Advisors LLC's holdings in Apple were worth $35,860,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AAPL. Burkett Financial Services LLC increased its stake in Apple by 0.6% in the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock valued at $3,199,000 after acquiring an additional 93 shares during the last quarter. OneAscent Wealth Management LLC increased its stake in Apple by 4.6% in the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock valued at $2,337,000 after acquiring an additional 409 shares during the last quarter. TruWealth Advisors LLC increased its stake in Apple by 2.8% in the first quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker's stock valued at $42,045,000 after acquiring an additional 5,120 shares during the last quarter. Allstate Corp increased its stake in Apple by 3,368.2% in the fourth quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock valued at $113,062,000 after acquiring an additional 438,471 shares during the last quarter. Finally, Vinva Investment Management Ltd increased its stake in Apple by 12.4% in the fourth quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker's stock valued at $192,700,000 after acquiring an additional 83,997 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analyst Ratings Changes

AAPL has been the topic of a number of recent research reports. Rosenblatt Securities cut Apple from a "buy" rating to a "neutral" rating and set a $217.00 price objective on the stock. in a research note on Friday, May 2nd. Monness Crespi & Hardt raised their price objective on Apple to $245.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. JPMorgan Chase & Co. raised their price objective on Apple from $230.00 to $250.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Finally, Evercore ISI raised their price objective on Apple to $250.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $235.11.

Apple Stock Performance

Shares of NASDAQ:AAPL traded up $1.68 during midday trading on Tuesday, hitting $214.16. The company had a trading volume of 25,198,720 shares, compared to its average volume of 53,032,198. 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 company has a market cap of $3.20 trillion, a price-to-earnings ratio of 33.34, a PEG ratio of 2.36 and a beta of 1.20. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a fifty day moving average of $204.57 and a two-hundred day moving average of $215.41.

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

Apple Increases Dividend

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

Apple declared that its Board of Directors has authorized a share buyback plan on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits 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 Transactions at Apple

In other Apple news, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer directly owned 4,569 shares of the company's stock, valued at $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the sale, the insider directly owned 15,533 shares in the company, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

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.