Apple Inc. (NASDAQ:AAPL) Shares Sold by Value Partners Investments Inc.

Key Points

• Value Partners Investments Inc. has reduced its stake in Apple Inc. by 26.8%, now holding 3,324 shares valued at approximately $739,000.
• Analysts have given Apple a current average rating of "Moderate Buy" with an average target price of $237.60, reflecting varied opinions among analysts with 15 buy ratings and 12 hold ratings.
• Apple announced a quarterly dividend of $0.26 per share and initiated a $100 billion stock buyback program, signaling confidence in its valuation amidst robust financial performance.

Value Partners Investments Inc. lessened its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 26.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,324 shares of the iPhone maker's stock after selling 1,217 shares during the quarter. Value Partners Investments Inc.'s holdings in Apple were worth $739,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Tallon Kerry Patrick acquired a new stake in Apple during the fourth quarter worth about $1,877,000. First National Bank of Hutchinson boosted its holdings in Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after purchasing an additional 6,982 shares during the last quarter. Capital & Planning LLC grew its stake in shares of Apple by 10.7% in the 4th quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker's stock valued at $6,836,000 after buying an additional 2,647 shares during the period. Eagle Capital Management LLC increased its holdings in shares of Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after buying an additional 272 shares during the last quarter. Finally, Brighton Jones LLC raised its position in shares of Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after buying an additional 69,207 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. KeyCorp upgraded Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. China Renaissance started coverage on Apple in a report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price target for the company. Evercore ISI raised their price objective on Apple to $250.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Scotiabank cut shares of Apple to a "market perform" rating in a research report on Friday, May 2nd. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $240.00 target price (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Apple currently has an average rating of "Moderate Buy" and an average target price of $237.60.

Apple Stock Performance

AAPL stock traded up $9.32 on Friday, hitting $229.35. The company's stock had a trading volume of 113,661,399 shares, compared to its average volume of 56,719,256. The stock has a market cap of $3.40 trillion, a price-to-earnings ratio of 34.80, a price-to-earnings-growth ratio of 2.30 and a beta of 1.16. The firm has a 50 day moving average of $206.84 and a two-hundred day moving average of $213.21. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same period in the previous year, the business posted $1.40 earnings per share. Apple's quarterly revenue was up 9.6% on a year-over-year basis. Equities analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Monday, August 11th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Monday, August 11th. Apple's dividend payout ratio (DPR) is presently 15.78%.

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

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the transaction, the insider owned 15,533 shares of the company's stock, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.06% of the company's stock.

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.