Independent Solutions Wealth Management LLC Sells 1,352 Shares of Apple Inc. (NASDAQ:AAPL)

Independent Solutions Wealth Management LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,997 shares of the iPhone maker's stock after selling 1,352 shares during the period. Apple accounts for approximately 3.1% of Independent Solutions Wealth Management LLC's portfolio, making the stock its 4th largest position. Independent Solutions Wealth Management LLC's holdings in Apple were worth $13,994,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of AAPL. Conquis Financial LLC purchased a new stake in Apple in the 4th quarter valued at approximately $63,000. LSV Asset Management acquired a new stake in Apple in the fourth quarter valued at $65,000. Pillar Financial Advisors LLC purchased a new stake in shares of Apple during the 4th quarter worth $82,000. Compass Planning Associates Inc acquired a new position in shares of Apple during the 4th quarter worth $96,000. Finally, Collier Financial purchased a new position in shares of Apple in the 4th quarter valued at about $140,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of research reports. Monness Crespi & Hardt lifted their target price on shares of Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Morgan Stanley upped their price objective on shares of Apple from $235.00 to $240.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Evercore ISI lifted their target price on Apple to $250.00 and gave the company a "buy" rating in a report on Friday, June 6th. 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. Finally, Rosenblatt Securities reiterated a "neutral" rating and issued a $217.00 target price on shares of Apple in a research note on Tuesday, July 29th. Two equities research analysts have rated the stock with a sell rating, twelve have given 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, the stock presently has an average rating of "Moderate Buy" and an average price target of $237.60.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction 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 transaction, the insider directly owned 15,533 shares in the company, valued at $3,233,815.27. The trade was a 22.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.06% of the company's stock.

Apple Stock Performance

Shares of AAPL traded up $9.32 during trading hours on Friday, reaching $229.35. 113,661,399 shares of the company's stock traded hands, compared to its average volume of 57,968,961. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The business's fifty day simple moving average is $206.24 and its two-hundred day simple moving average is $213.17. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 34.80, a P/E/G ratio of 2.24 and a beta of 1.16.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 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 analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company's revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $1.40 EPS. Analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently disclosed 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. This represents a $1.04 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, August 11th. Apple's dividend payout ratio is currently 15.78%.

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

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.