NBW Capital LLC Sells 16,404 Shares of Apple Inc. $AAPL

NBW Capital LLC cut its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 19.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,382 shares of the iPhone maker's stock after selling 16,404 shares during the quarter. Apple makes up 3.4% of NBW Capital LLC's portfolio, making the stock its 4th biggest holding. NBW Capital LLC's holdings in Apple were worth $15,190,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Burkett Financial Services LLC boosted its holdings in Apple by 0.6% in the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock worth $3,199,000 after purchasing an additional 93 shares in the last quarter. Avid Wealth Partners LLC boosted its holdings in Apple by 28.3% in the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock worth $935,000 after purchasing an additional 930 shares in the last quarter. OneAscent Wealth Management LLC boosted its holdings in Apple by 4.6% in the fourth 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 in the last quarter. Bell & Brown Wealth Advisors LLC boosted its holdings in Apple by 0.4% in the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker's stock worth $13,772,000 after purchasing an additional 240 shares in the last quarter. Finally, TruWealth Advisors LLC boosted its holdings in Apple by 2.8% in the first quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker's stock worth $42,045,000 after purchasing an additional 5,120 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AAPL has been the subject of a number of recent research reports. BMO Capital Markets reiterated a "buy" rating on shares of Apple in a report on Wednesday, August 13th. Moffett Nathanson upgraded shares of Apple from a "sell" rating to a "neutral" rating and set a $225.00 price objective for the company in a report on Thursday. Morgan Stanley set a $240.00 price objective on shares of Apple and gave the stock an "overweight" rating in a report on Wednesday. Rosenblatt Securities restated a "neutral" rating and set a $217.00 price target on shares of Apple in a report on Tuesday, July 29th. Finally, Loop Capital decreased their price target on shares of Apple from $230.00 to $226.00 and set a "hold" rating for the company in a report on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $239.05.

Apple Stock Down 0.0%

Shares of AAPL opened at $239.69 on Monday. The company has a 50-day simple moving average of $219.28 and a 200-day simple moving average of $212.40. The firm has a market capitalization of $3.56 trillion, a P/E ratio of 36.37, a P/E/G ratio of 2.50 and a beta of 1.11. 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 Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The business 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 firm's revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.40 earnings per share. On average, equities research analysts expect 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 was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple's dividend payout ratio is currently 15.78%.

Insider Activity at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the transaction, the senior vice president owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.06% of the company's stock.

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.

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