Moneywise Inc. reduced its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 47.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,515 shares of the iPhone maker's stock after selling 1,365 shares during the period. Moneywise Inc.'s holdings in Apple were worth $337,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Burkett Financial Services LLC grew its holdings in shares of Apple by 0.6% during the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock worth $3,199,000 after buying an additional 93 shares during the last quarter. Avid Wealth Partners LLC lifted its position in shares of Apple by 28.3% during the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock valued at $935,000 after acquiring an additional 930 shares during the period. OneAscent Wealth Management LLC raised its position in shares of Apple by 4.6% during the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock worth $2,337,000 after purchasing an additional 409 shares during the last quarter. TruWealth Advisors LLC raised its holdings in Apple by 2.8% in the 1st 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. Finally, Allstate Corp increased its holdings in shares of Apple by 3,368.2% during the 4th quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock worth $113,062,000 after buying an additional 438,471 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Apple
In other news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.06% of the company's stock.
Apple Stock Performance
AAPL traded up $0.79 during midday trading on Tuesday, hitting $204.14. 7,744,827 shares of the company traded hands, compared to its average volume of 56,777,820. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $3.05 trillion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 2.20 and a beta of 1.17. The company's 50-day moving average is $205.53 and its 200 day moving average is $213.31. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $88.64 billion. During the same period in the prior year, the firm posted $1.40 EPS. The firm's quarterly revenue was up 9.6% compared to the same quarter last year. On average, research analysts expect that Apple Inc. will post 7.28 EPS for the current year.
Apple declared that its board has initiated a stock repurchase plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.
Apple Announces Dividend
The firm 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 dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, August 11th. Apple's dividend payout ratio (DPR) is 15.78%.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on AAPL. Monness Crespi & Hardt raised their target price on Apple from $245.00 to $270.00 and gave the company a "buy" rating in a research note on Friday. Evercore ISI raised their price objective on shares of Apple to $250.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Wedbush restated an "outperform" rating and set a $270.00 price target on shares of Apple in a report on Wednesday, July 30th. Barclays lifted their target price on shares of Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a report on Friday. Finally, Bank of America upped their target price on shares of Apple from $235.00 to $240.00 and gave the company a "buy" rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $237.25.
Check Out Our Latest Research Report on Apple
Apple Profile
(
Free Report)
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.
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