StoneCrest Wealth Management Inc. lowered its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 54.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,868 shares of the iPhone maker's stock after selling 4,590 shares during the quarter. StoneCrest Wealth Management Inc.'s holdings in Apple were worth $859,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in AAPL. Advanced Portfolio Management LLC grew its holdings in shares of Apple by 0.3% during the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock worth $3,260,000 after buying an additional 47 shares in the last quarter. Family Capital Management Inc. lifted its stake in shares of Apple by 0.3% during the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock valued at $4,235,000 after buying an additional 48 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in Apple by 0.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock worth $4,178,000 after acquiring an additional 48 shares during the last quarter. Scarborough Advisors LLC grew its stake in Apple by 0.3% in the 4th quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock worth $3,992,000 after acquiring an additional 51 shares during the period. Finally, Disciplined Investments LLC raised its holdings in Apple by 0.7% in the 4th quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker's stock valued at $1,794,000 after acquiring an additional 51 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.
Apple Stock Down 1.7%
Shares of NASDAQ:AAPL traded down $3.60 during midday trading on Monday, reaching $209.95. The company had a trading volume of 50,065,415 shares, compared to its average volume of 53,581,624. The stock has a market capitalization of $3.14 trillion, a P/E ratio of 32.70, a PEG ratio of 2.38 and a beta of 1.20. The stock's fifty day moving average price is $203.35 and its 200-day moving average price is $218.44. 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 one year low of $169.21 and a one year high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.03. The firm 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 167.24%. The firm's quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.53 earnings per share. Equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple declared that its Board of Directors has initiated a share buyback program on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.
Apple Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a $0.26 dividend. This is a positive change from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.50%. The ex-dividend date was Monday, May 12th. Apple's payout ratio is currently 16.20%.
Insider Buying and Selling
In other Apple news, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer directly owned 4,569 shares of the company's stock, valued at approximately $941,214. This represents a 50.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the transaction, the insider directly 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 currently owned by insiders.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the company. Needham & Company LLC restated a "hold" rating on shares of Apple in a report on Tuesday, June 10th. UBS Group set a $210.00 price target on Apple and gave the stock a "neutral" rating in a research note on Thursday. Evercore ISI lifted their price target on Apple to $250.00 and gave the company a "buy" rating in a report on Friday, June 6th. The Goldman Sachs Group reiterated a "buy" rating on shares of Apple in a report on Wednesday, May 21st. Finally, Rosenblatt Securities downgraded shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 target price for the company. in a report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $234.95.
Read Our Latest Research Report on AAPL
Apple Company Profile
(
Free Report)
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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