ROI Financial Advisors LLC Sells 1,585 Shares of Apple Inc. (NASDAQ:AAPL)

ROI Financial Advisors LLC decreased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,531 shares of the iPhone maker's stock after selling 1,585 shares during the quarter. Apple comprises approximately 6.9% of ROI Financial Advisors LLC's investment portfolio, making the stock its 2nd biggest position. ROI Financial Advisors LLC's holdings in Apple were worth $10,150,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AAPL. Norges Bank acquired a new position in shares of Apple during the 4th quarter worth $46,868,648,000. Vanguard Group Inc. increased its holdings in Apple by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after purchasing an additional 49,168,843 shares during the period. Proficio Capital Partners LLC increased its holdings in 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 valued at $5,272,653,000 after purchasing an additional 20,966,232 shares during the period. Geode Capital Management LLC increased its holdings in Apple by 6.5% in the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock valued at $77,542,863,000 after purchasing an additional 20,483,787 shares during the period. Finally, Strategic Financial Concepts LLC grew its holdings in Apple by 25,285.2% during the 4th quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker's stock worth $2,411,260,000 after acquiring an additional 9,590,933 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Trading Down 1.4%

Shares of AAPL traded down $2.75 during mid-day trading on Friday, reaching $196.45. The stock had a trading volume of 51,345,532 shares, compared to its average volume of 54,742,937. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The business's fifty day moving average is $201.76 and its 200 day moving average is $223.02. The firm has a market cap of $2.93 trillion, a price-to-earnings ratio of 31.18, a P/E/G ratio of 2.44 and a beta of 1.22.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The company had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $1.53 earnings per share. On average, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a $0.26 dividend. The ex-dividend date was Monday, May 12th. This is a positive change from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.53%. Apple's payout ratio is currently 16.20%.

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on AAPL shares. Wedbush restated an "outperform" rating and issued a $270.00 target price on shares of Apple in a research note on Tuesday. UBS Group reissued a "buy" rating on shares of Apple in a research report on Sunday, June 1st. Monness Crespi & Hardt lifted their price target on shares of Apple to $245.00 and gave the stock a "buy" rating in a report on Tuesday. KeyCorp upgraded shares of Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Finally, Scotiabank lowered shares of Apple to a "market perform" rating in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $234.86.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 4,486 shares of the stock in a transaction that occurred on 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 now directly owns 15,533 shares in the company, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the transaction, the chief operating officer now owns 390,059 shares in the company, valued at $87,377,116.59. This trade represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 191,507 shares of company stock worth $42,694,080. Corporate insiders own 0.06% of the company's stock.

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.