Apple Inc. (NASDAQ:AAPL) Shares Sold by MN Wealth Advisors LLC

MN Wealth Advisors LLC cut its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 11.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,394 shares of the iPhone maker's stock after selling 1,809 shares during the period. Apple accounts for 1.7% of MN Wealth Advisors LLC's investment portfolio, making the stock its 16th largest holding. MN Wealth Advisors LLC's holdings in Apple were worth $2,975,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Loop Capital cut their target price on shares of Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Tigress Financial lifted their target price on shares of Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a research report on Thursday, April 3rd. Citigroup restated a "buy" rating on shares of Apple in a research report on Tuesday, June 10th. TD Cowen lowered their price target on shares of Apple from $290.00 to $275.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Apple from $230.00 to $250.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $234.94.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 4,486 shares of the company's 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.06% of the company's stock.

Apple Stock Up 0.1%

AAPL traded up $0.17 during trading on Monday, hitting $214.05. The company had a trading volume of 37,786,671 shares, compared to its average volume of 47,818,408. The company has a market cap of $3.20 trillion, a PE ratio of 33.34, a P/E/G ratio of 2.39 and a beta of 1.20. The business has a 50-day moving average of $204.87 and a 200-day moving average of $214.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10.

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

Apple Increases Dividend

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

Apple declared that its board has approved a stock repurchase program on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are 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.