Pacific Sage Partners LLC Has $7.27 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Pacific Sage Partners LLC cut its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,744 shares of the iPhone maker's stock after selling 1,352 shares during the period. Apple makes up 1.6% of Pacific Sage Partners LLC's investment portfolio, making the stock its 16th largest position. Pacific Sage Partners LLC's holdings in Apple were worth $7,273,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Burkett Financial Services LLC raised its stake 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 valued at $3,199,000 after purchasing an additional 93 shares during the period. Avid Wealth Partners LLC raised its stake in shares of Apple by 28.3% during the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock valued at $935,000 after purchasing an additional 930 shares during the period. OneAscent Wealth Management LLC raised its stake in shares of Apple by 4.6% during the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock valued at $2,337,000 after purchasing an additional 409 shares during the period. TruWealth Advisors LLC raised its stake in shares of Apple by 2.8% during the first quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker's stock valued at $42,045,000 after purchasing an additional 5,120 shares during the period. Finally, Allstate Corp raised its stake in shares of Apple by 3,368.2% during the fourth quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock valued at $113,062,000 after purchasing an additional 438,471 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on AAPL. Morgan Stanley lifted their price objective on shares of Apple from $235.00 to $240.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Evercore ISI lifted their price objective on shares of Apple to $250.00 and gave the company a "buy" rating in a research note on Friday, June 6th. The Goldman Sachs Group restated a "buy" rating on shares of Apple in a research note on Wednesday, May 21st. UBS Group lifted their price target on shares of Apple from $210.00 to $220.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Apple from $250.00 to $255.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $237.60.

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 value of $933,940.34. Following the completion of the sale, the insider directly 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 available through this link. Company insiders own 0.06% of the company's stock.

Apple Stock Performance

Shares of NASDAQ AAPL traded up $9.32 during trading hours on Friday, reaching $229.35. The stock had a trading volume of 61,316,534 shares, compared to its average volume of 57,567,168. The business's fifty day moving average is $206.24 and its two-hundred day moving average is $213.17. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The company has a market cap of $3.40 trillion, a price-to-earnings ratio of 34.76, a PEG ratio of 2.24 and a beta of 1.16. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data 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 return on equity of 170.91% and a net margin of 24.30%. The firm 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 company posted $1.40 earnings per share. The business's revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

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 paid a $0.26 dividend. The ex-dividend date is Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. Apple's dividend payout ratio (DPR) is 15.78%.

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

Apple Company 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.