San Luis Wealth Advisors LLC Cuts Stock Position in Apple Inc. (NASDAQ:AAPL)

San Luis Wealth Advisors LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 10.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 126,633 shares of the iPhone maker's stock after selling 14,563 shares during the quarter. Apple comprises about 6.0% of San Luis Wealth Advisors LLC's holdings, making the stock its 3rd largest position. San Luis Wealth Advisors LLC's holdings in Apple were worth $28,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Drystone LLC acquired a new stake in Apple during the 4th quarter worth approximately $25,000. Conquis Financial LLC acquired a new stake in Apple during the 4th quarter worth approximately $63,000. LSV Asset Management acquired a new stake in Apple during the 4th quarter worth approximately $65,000. Pillar Financial Advisors LLC acquired a new stake in Apple during the 4th quarter worth approximately $82,000. Finally, Compass Planning Associates Inc acquired a new stake in Apple during the 4th quarter worth approximately $96,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction dated 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research analyst reports. Scotiabank downgraded shares of Apple to a "market perform" rating in a research report on Friday, May 2nd. Bank of America reissued a "buy" rating and set a $235.00 target price on shares of Apple in a research report on Tuesday, June 10th. KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Rosenblatt Securities downgraded shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price objective for the company. in a research report on Friday, May 2nd. Finally, TD Cowen lowered their price objective 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 equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $234.94.

Apple Stock Performance

Shares of AAPL traded up $0.12 during trading hours on Friday, reaching $213.88. 38,805,177 shares of the company's stock traded hands, compared to its average volume of 49,464,392. The firm has a market capitalization of $3.19 trillion, a price-to-earnings ratio of 33.31, a P/E/G ratio of 2.39 and a beta of 1.20. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The business's fifty day simple moving average is $204.77 and its two-hundred day simple moving average is $214.58.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. Apple's revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.53 earnings per share. Analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

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

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is 16.20%.

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.