Apple Inc. $AAPL Holdings Trimmed by Mutual Advisors LLC

Key Points

• Mutual Advisors LLC has reduced its holdings in Apple Inc. by 4.4%, making the company its 3rd largest position with a total value of $131.6 million.
• A number of institutional investors have also recently acquired stakes in Apple, contributing to institutional ownership of 67.73% of the company's stock.
• Multiple analysts have set new price targets for Apple, with an average target price of $237.60 and a consensus rating of "Moderate Buy".

Mutual Advisors LLC decreased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 628,923 shares of the iPhone maker's stock after selling 28,609 shares during the period. Apple makes up approximately 3.8% of Mutual Advisors LLC's holdings, making the stock its 3rd biggest position. Mutual Advisors LLC's holdings in Apple were worth $131,621,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Life Planning Partners Inc purchased a new position in Apple in the 4th quarter worth about $47,000. Conquis Financial LLC purchased a new stake in shares of Apple during the 4th quarter valued at about $63,000. LSV Asset Management purchased a new stake in Apple in the 4th quarter worth approximately $65,000. Pillar Financial Advisors LLC purchased a new stake in Apple in the 4th quarter worth approximately $82,000. Finally, Compass Planning Associates Inc purchased a new stake in Apple in the 4th quarter worth approximately $96,000. Institutional investors own 67.73% of the company's stock.

Apple Trading Up 1.3%

NASDAQ:AAPL traded up $2.86 during midday trading on Friday, hitting $227.76. 42,431,176 shares of the company traded hands, compared to its average volume of 61,854,304. The firm's fifty day moving average is $212.52 and its 200-day moving average is $212.96. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The firm has a market capitalization of $3.38 trillion, a P/E ratio of 34.56, a P/E/G ratio of 2.38 and a beta of 1.16. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same quarter in the prior year, the firm posted $1.40 EPS. Apple's quarterly revenue was up 9.6% compared to the same quarter last year. On average, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its board has authorized a share repurchase program on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio is presently 15.78%.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several analyst reports. DA Davidson reissued a "buy" rating and issued a $250.00 target price on shares of Apple in a report on Friday, August 1st. The Goldman Sachs Group restated a "buy" rating on shares of Apple in a research note on Wednesday, May 21st. Evercore ISI restated an "outperform" rating and issued a $250.00 price target on shares of Apple in a research note on Wednesday, August 13th. TD Cowen dropped their price target on Apple from $290.00 to $275.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Loop Capital dropped their price target on Apple from $230.00 to $226.00 and set a "hold" rating for the company in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $237.98.

Apple 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.