Quattro Financial Advisors LLC Has $5.92 Million Holdings in Apple Inc. $AAPL

Key Points

• Quattro Financial Advisors LLC reduced its holdings in Apple Inc. by 46.5% in the first quarter, now owning 26,665 shares worth approximately $5.92 million.
• Apple's board has initiated a $100 billion share repurchase plan, indicating a belief that the stock is undervalued.
• The company's recent quarterly earnings surpassed analysts' estimates, reporting $1.57 earnings per share and revenue of $94.04 billion, a 9.6% year-over-year increase.

Quattro Financial Advisors LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 46.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,665 shares of the iPhone maker's stock after selling 23,190 shares during the period. Apple comprises approximately 2.0% of Quattro Financial Advisors LLC's investment portfolio, making the stock its 18th biggest position. Quattro Financial Advisors LLC's holdings in Apple were worth $5,923,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in AAPL. Norges Bank acquired a new stake in shares of Apple in the fourth quarter worth $46,868,648,000. GAMMA Investing LLC boosted its position in shares of Apple by 25,934.1% in the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker's stock worth $133,425,490,000 after buying an additional 59,835,676 shares during the period. Vanguard Group Inc. boosted its position in shares of Apple by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock worth $349,532,608,000 after buying an additional 49,168,843 shares during the period. Proficio Capital Partners LLC boosted its position in shares of Apple by 23,555.4% in the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock worth $5,272,653,000 after buying an additional 20,966,232 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after buying an additional 20,079,472 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction on 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 transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.06% of the company's stock.

Apple Stock Up 1.3%

Shares of Apple stock traded up $2.86 during midday trading on Friday, reaching $227.76. 42,431,176 shares of the company's stock traded hands, compared to its average volume of 61,854,304. The company has a market cap of $3.38 trillion, a price-to-earnings ratio of 34.56, a price-to-earnings-growth ratio of 2.35 and a beta of 1.16. The company's 50 day simple moving average is $212.52 and its 200 day simple moving average is $213.09. 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 released its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple's revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.40 EPS. Equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple declared that its board has initiated a share 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 repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a dividend of $0.26 per share. The ex-dividend date was 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 currently 15.78%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AAPL. Loop Capital cut their target price on shares of Apple from $230.00 to $226.00 and set a "hold" rating for the company in a research report on Thursday. Raymond James Financial reiterated an "outperform" rating and issued a $240.00 target price (up previously from $230.00) on shares of Apple in a research report on Friday, August 1st. JPMorgan Chase & Co. increased their target price on shares of Apple from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Monness Crespi & Hardt increased their target price on shares of Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, TD Cowen cut their target price on shares of Apple from $290.00 to $275.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Two 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Apple currently has a consensus rating of "Moderate Buy" and an average target price of $237.98.

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.