HBW Advisory Services LLC Sells 4,545 Shares of Apple Inc. (NASDAQ:AAPL)

HBW Advisory Services LLC decreased its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 10.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,581 shares of the iPhone maker's stock after selling 4,545 shares during the period. Apple accounts for 1.2% of HBW Advisory Services LLC's investment portfolio, making the stock its 18th largest holding. HBW Advisory Services LLC's holdings in Apple were worth $8,348,000 as of its most recent filing with the Securities and Exchange Commission.

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

Apple Price Performance

NASDAQ AAPL traded up $4.62 during trading on Wednesday, reaching $212.44. 67,874,321 shares of the company traded hands, compared to its average volume of 53,627,933. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a market cap of $3.17 trillion, a price-to-earnings ratio of 33.09, a P/E/G ratio of 2.32 and a beta of 1.20. The stock's 50 day moving average price is $203.01 and its two-hundred day moving average price is $219.45. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82.

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

Apple Increases Dividend

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

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AAPL. Rosenblatt Securities downgraded Apple from a "buy" rating to a "neutral" rating and set a $217.00 target price on the stock. in a report on Friday, May 2nd. Scotiabank lowered Apple to a "market perform" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. cut their price target on Apple from $245.00 to $230.00 and set an "overweight" rating on the stock in a report on Thursday, June 26th. TD Cowen reduced their price target on Apple from $290.00 to $275.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Bank of America reaffirmed a "buy" rating and set a $235.00 target price on shares of Apple in a report on Tuesday, June 10th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $234.95.

Insider Buying and Selling at Apple

In related news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction dated 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 transaction, the insider directly owned 15,533 shares of the company's stock, valued at $3,233,815.27. This trade represents a 22.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the business's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the transaction, the chief financial officer owned 4,569 shares in the company, valued at approximately $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

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.