Revolve Wealth Partners LLC Increases Position in Apple Inc. (NASDAQ:AAPL)

Revolve Wealth Partners LLC grew its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 8.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,496 shares of the iPhone maker's stock after acquiring an additional 5,639 shares during the quarter. Apple comprises about 2.3% of Revolve Wealth Partners LLC's portfolio, making the stock its 13th biggest position. Revolve Wealth Partners LLC's holdings in Apple were worth $16,104,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Whitaker Myers Wealth Managers LTD. increased its holdings in shares of Apple by 1.8% in the 1st quarter. Whitaker Myers Wealth Managers LTD. now owns 18,558 shares of the iPhone maker's stock valued at $4,122,000 after acquiring an additional 328 shares during the period. Wedmont Private Capital increased its holdings in shares of Apple by 4.0% in the 1st quarter. Wedmont Private Capital now owns 260,718 shares of the iPhone maker's stock valued at $57,913,000 after acquiring an additional 10,062 shares during the period. Sentinel Pension Advisors LLC increased its holdings in shares of Apple by 0.6% in the 1st quarter. Sentinel Pension Advisors LLC now owns 27,923 shares of the iPhone maker's stock valued at $6,203,000 after acquiring an additional 156 shares during the period. Clean Yield Group increased its holdings in shares of Apple by 1.4% in the 1st quarter. Clean Yield Group now owns 106,545 shares of the iPhone maker's stock valued at $23,667,000 after acquiring an additional 1,421 shares during the period. Finally, ONE Advisory Partners LLC increased its holdings in shares of Apple by 7.7% in the 1st quarter. ONE Advisory Partners LLC now owns 1,363 shares of the iPhone maker's stock valued at $303,000 after acquiring an additional 97 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Kevan Parekh sold 4,570 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the sale, the chief financial officer directly owned 4,569 shares in the company, valued at $941,214. The trade was a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction that occurred 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 $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Apple Stock Down 1.7%

Shares of AAPL stock opened at $209.95 on Tuesday. The stock has a 50 day moving average of $203.34 and a 200 day moving average of $218.13. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The stock has a market cap of $3.14 trillion, a P/E ratio of 32.70, a P/E/G ratio of 2.38 and a beta of 1.20. 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 announced its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.03. The company had revenue of $95.36 billion during the quarter, compared to analysts' expectations of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. Apple's quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the business earned $1.53 earnings per share. As a group, sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its Board of Directors has approved a stock buyback program on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.50%. Apple's payout ratio is 16.20%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AAPL shares. Bank of America restated a "buy" rating and set a $235.00 target price on shares of Apple in a research note on Tuesday, June 10th. Jefferies Financial Group upgraded Apple from an "underperform" rating to a "hold" rating and boosted their target price for the stock from $170.62 to $188.32 in a research note on Tuesday, July 1st. Morgan Stanley restated an "overweight" rating on shares of Apple in a research note on Friday, June 13th. Raymond James Financial dropped their target price on Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Finally, Barclays set a $173.00 target price on Apple and gave the stock an "underweight" rating in a research note on Tuesday, June 24th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $234.95.

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.

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