HWG Holdings LP Sells 1,508 Shares of Apple Inc. (NASDAQ:AAPL)

Key Points

• HWG Holdings LP reduced its stake in Apple Inc. by 1.6% in Q1, now holding 90,611 shares valued at approximately $20.1 million.
• Apple reported a 9.6% revenue increase year-over-year, with recent quarterly earnings of $1.57 EPS, surpassing estimates by $0.14.
• Recently, Apple declared a quarterly dividend of $0.26 per share, set to be paid on August 14th, with a current yield of 0.5%.

HWG Holdings LP lowered its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 90,611 shares of the iPhone maker's stock after selling 1,508 shares during the quarter. Apple comprises approximately 9.0% of HWG Holdings LP's portfolio, making the stock its 2nd largest holding. HWG Holdings LP's holdings in Apple were worth $20,127,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Advanced Portfolio Management LLC grew its stake in Apple by 0.3% in the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock worth $3,260,000 after purchasing an additional 47 shares during the period. Family Capital Management Inc. boosted its position in Apple by 0.3% in the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock worth $4,235,000 after purchasing an additional 48 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in shares of Apple by 0.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock worth $4,178,000 after buying an additional 48 shares during the period. Scarborough Advisors LLC raised its stake in shares of Apple by 0.3% in the fourth quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock worth $3,992,000 after buying an additional 51 shares during the period. Finally, Disciplined Investments LLC raised its stake in Apple by 0.7% during the 4th quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker's stock valued at $1,794,000 after purchasing an additional 51 shares during the period. Institutional investors own 67.73% of the company's stock.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.06% of the company's stock.

Apple Stock Up 0.5%

Apple stock traded up $0.97 during mid-day trading on Monday, reaching $203.35. The company's stock had a trading volume of 74,983,799 shares, compared to its average volume of 57,129,035. The business's 50 day simple moving average is $205.37 and its 200 day simple moving average is $213.50. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company has a market capitalization of $3.04 trillion, a price-to-earnings ratio of 30.86, a price-to-earnings-growth ratio of 2.20 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 posted its earnings results 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. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. During the same quarter last year, the company posted $1.40 EPS. Apple's quarterly revenue was up 9.6% compared to the same quarter last year. As a group, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

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

Apple Announces Dividend

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

Analysts Set New Price Targets

AAPL has been the subject of a number of recent research reports. Barclays lifted their target price on Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a report on Friday. Loop Capital reduced their target price on Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. Evercore ISI upped their target price on Apple to $250.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Scotiabank downgraded Apple to a "market perform" rating in a research report on Friday, May 2nd. Finally, Morgan Stanley increased their price target on Apple from $235.00 to $240.00 and gave the company an "overweight" rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and a consensus target price of $237.25.

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.