Traveka Wealth LLC Sells 2,438 Shares of Apple Inc. $AAPL

Key Points

• Traveka Wealth LLC reduced its stake in Apple Inc. by 9.1%, holding 24,379 shares worth approximately $5.4 million, making Apple its 4th largest investment.
• In the 1st quarter, Apple also saw new investments from several other firms, with institutional investors now owning 67.73% of the stock.
• Apple's recent quarterly earnings exceeded expectations, reporting an EPS of $1.57 and revenues of $94.04 billion, marking a 9.6% year-over-year increase.

Traveka Wealth LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 9.1% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 24,379 shares of the iPhone maker's stock after selling 2,438 shares during the quarter. Apple comprises approximately 3.0% of Traveka Wealth LLC's portfolio, making the stock its 4th biggest position. Traveka Wealth LLC's holdings in Apple were worth $5,415,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AAPL. Advanced Portfolio Management LLC increased its position in 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 acquiring an additional 47 shares during the period. Salus Financial Advisors LLC grew its position in Apple by 3.9% in the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker's stock worth $291,000 after purchasing an additional 49 shares during the last quarter. Disciplined Investments LLC increased its holdings in shares of Apple by 0.7% during the 4th quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker's stock worth $1,794,000 after purchasing an additional 51 shares during the period. Redwood Financial Network Corp raised its position in shares of Apple by 0.6% during the fourth quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker's stock valued at $2,184,000 after buying an additional 53 shares during the last quarter. Finally, Mission Hills Financial Advisory LLC lifted its stake in shares of Apple by 1.3% in the first quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker's stock valued at $892,000 after buying an additional 53 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Price Performance

Apple stock traded up $2.86 during mid-day trading on Friday, hitting $227.76. 42,431,176 shares of the company were exchanged, compared to its average volume of 61,854,304. The company has a market capitalization of $3.38 trillion, a PE ratio of 34.56, a price-to-earnings-growth ratio of 2.38 and a beta of 1.16. The business has a fifty day moving average of $212.52 and a 200 day moving average of $212.96. Apple Inc. has a 1-year low of $169.21 and a 1-year 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 earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same quarter in the prior year, the firm earned $1.40 EPS. The firm's quarterly revenue was up 9.6% compared to the same quarter last year. As a group, sell-side analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

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

Apple declared that its Board of Directors has initiated a stock buyback plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Morgan Stanley boosted their price target on Apple from $235.00 to $240.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Jefferies Financial Group upgraded Apple from an "underperform" rating to a "hold" rating in a research report on Friday, July 18th. Monness Crespi & Hardt upped their target price on Apple from $245.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research report on Friday, July 25th. Finally, BMO Capital Markets reissued a "buy" rating on shares of Apple in a report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and an average price target of $237.98.

Insider Activity at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the sale, the senior vice president directly owned 136,687 shares in the company, valued at $30,508,538.40. This represents a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is owned by insiders.

Apple 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.