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

Opal Wealth Advisors LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,869 shares of the iPhone maker's stock after selling 2,353 shares during the period. Apple accounts for about 4.0% of Opal Wealth Advisors LLC's investment portfolio, making the stock its 5th biggest holding. Opal Wealth Advisors LLC's holdings in Apple were worth $12,855,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Drystone LLC bought a new stake in shares of Apple during the fourth quarter valued at approximately $25,000. Life Planning Partners Inc bought a new stake in Apple during the fourth quarter worth approximately $47,000. Conquis Financial LLC bought a new stake in Apple during the fourth quarter worth approximately $63,000. LSV Asset Management bought a new stake in Apple during the fourth quarter worth approximately $65,000. Finally, Pillar Financial Advisors LLC bought a new stake in Apple during the fourth quarter worth approximately $82,000. Institutional investors own 67.73% of the company's stock.

Apple Stock Up 0.6%

Shares of Apple stock traded up $1.16 during trading on Friday, hitting $211.18. 48,647,642 shares of the stock traded hands, compared to its average volume of 53,181,146. The stock has a market cap of $3.15 trillion, a P/E ratio of 32.89, a PEG ratio of 2.35 and a beta of 1.20. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a fifty day moving average price of $204.32 and a two-hundred day moving average price of $216.12.

Apple (NASDAQ:AAPL - Get Free Report) last announced 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 business had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The firm's revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.53 EPS. Equities research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its board has initiated a stock repurchase plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is presently 16.20%.

Insider Buying and Selling at Apple

In related news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider owned 15,533 shares of the company's stock, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the sale, the chief financial officer directly owned 4,569 shares of the company's stock, valued at approximately $941,214. The trade was a 50.01% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Morgan Stanley reissued an "overweight" rating on shares of Apple in a report on Friday, June 13th. Needham & Company LLC reissued a "hold" rating on shares of Apple in a report on Tuesday, June 10th. Rosenblatt Securities lowered shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target on the stock. in a research report on Friday, May 2nd. JPMorgan Chase & Co. lifted their price target on shares of Apple from $230.00 to $250.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Barclays set a $173.00 price target on shares of Apple and gave the stock an "underweight" rating in a research report on Tuesday, June 24th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Apple has an average rating of "Moderate Buy" and a consensus target price of $235.11.

About Apple

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.