Apple Inc. $AAPL Shares Sold by Revisor Wealth Management LLC

Key Points

• Revisor Wealth Management LLC reduced its holdings in Apple by 14.4%, selling 9,189 shares and now owning 54,681 shares, making Apple its second largest holding.
• Apple's stock closed at $230.56, with a market capitalization of $3.42 trillion and a P/E ratio of 34.99, while analysts predict earnings per share of 7.28 for the current year.
• The company also announced a quarterly dividend of $0.26 per share and authorized a $100 billion stock repurchase program, signaling confidence in its perceived undervalued stock.

Revisor Wealth Management LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 14.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 54,681 shares of the iPhone maker's stock after selling 9,189 shares during the quarter. Apple accounts for 5.4% of Revisor Wealth Management LLC's investment portfolio, making the stock its 2nd largest holding. Revisor Wealth Management LLC's holdings in Apple were worth $12,146,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Life Planning Partners Inc purchased a new position in Apple during the 4th quarter valued at about $47,000. Conquis Financial LLC purchased a new stake in shares of Apple during the fourth quarter worth about $63,000. LSV Asset Management purchased a new stake in shares of Apple during the fourth quarter worth about $65,000. Pillar Financial Advisors LLC acquired a new stake in shares of Apple in the fourth quarter worth approximately $82,000. Finally, Compass Planning Associates Inc acquired a new stake in shares of Apple in the fourth quarter worth approximately $96,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Down 0.7%

Shares of AAPL traded down $1.5190 during mid-day trading on Thursday, reaching $224.4910. 17,095,958 shares of the stock traded hands, compared to its average volume of 57,413,074. The firm has a market cap of $3.33 trillion, a price-to-earnings ratio of 34.06, a P/E/G ratio of 2.41 and a beta of 1.16. The stock has a fifty day simple moving average of $211.38 and a 200 day simple moving average of $213.15. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The company had revenue of $94.04 billion for 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 business's quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.40 earnings per share. Sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, August 11th. Apple's payout ratio is 15.78%.

Apple announced that its Board of Directors has initiated a share repurchase program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group reissued a "buy" rating on shares of Apple in a research report on Wednesday, May 21st. Loop Capital decreased their target price on shares of Apple from $230.00 to $226.00 and set a "hold" rating on the stock in a research report on Thursday. DA Davidson reissued a "buy" rating and issued a $250.00 target price on shares of Apple in a research report on Friday, August 1st. Evercore ISI reissued an "outperform" rating and issued a $250.00 target price on shares of Apple in a research report on Wednesday, August 13th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $240.00 target price (up from $230.00) on shares of Apple in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and an average target price of $237.98.

Insider Activity

In related news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the sale, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. The trade was 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 this link. Company insiders own 0.06% of the company's stock.

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.