ORG Partners LLC Has $8.64 Million Position in Apple Inc. (NASDAQ:AAPL)

Key Points

• ORG Partners LLC reduced its holdings in Apple Inc. by 18.2% in the first quarter, bringing its ownership down to 38,702 shares, valued at approximately $8.6 million.
• Apple reported a 5.1% year-over-year increase in revenue for its latest quarter, totaling $95.36 billion, and exceeded analysts' expectations for earnings per share.
• The company announced a $100 billion share repurchase plan and recently increased its quarterly dividend to $0.26 per share, highlighting its commitment to returning value to shareholders.

ORG Partners LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 18.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,702 shares of the iPhone maker's stock after selling 8,624 shares during the period. Apple accounts for approximately 2.1% of ORG Partners LLC's portfolio, making the stock its 7th biggest holding. ORG Partners LLC's holdings in Apple were worth $8,636,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Advanced Portfolio Management LLC boosted its position in Apple by 0.3% during the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock valued at $3,260,000 after purchasing an additional 47 shares during the last quarter. Family Capital Management Inc. boosted its stake in shares of Apple by 0.3% during the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock worth $4,235,000 after acquiring an additional 48 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in shares of Apple by 0.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock worth $4,178,000 after buying an additional 48 shares during the period. Scarborough Advisors LLC raised its holdings in Apple by 0.3% in the 4th quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock valued at $3,992,000 after acquiring an additional 51 shares during the period. Finally, Disciplined Investments LLC boosted its holdings in shares of Apple by 0.7% during the fourth quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker's stock worth $1,794,000 after acquiring an additional 51 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction dated Monday, May 12th. The stock was 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 of the company's stock, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by corporate insiders.

Apple Price Performance

Shares of AAPL traded down $0.23 during midday trading on Thursday, hitting $208.82. 13,029,085 shares of the company traded hands, compared to its average volume of 56,191,012. The stock has a 50-day moving average of $205.10 and a 200-day moving average of $214.16. 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 one year low of $169.21 and a one year high of $260.10. The firm has a market cap of $3.12 trillion, a P/E ratio of 32.53, a PEG ratio of 2.32 and a beta of 1.20.

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

Apple announced that its board has authorized a stock buyback plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

AAPL has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price objective on Apple from $230.00 to $250.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Morgan Stanley reiterated an "overweight" rating on shares of Apple in a research report on Friday, June 13th. Jefferies Financial Group upgraded Apple from an "underperform" rating to a "hold" rating in a research note on Friday, July 18th. Evercore ISI raised their price target on Apple to $250.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Finally, China Renaissance initiated coverage on shares of Apple in a research report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $234.94.

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.