Washburn Capital Management Inc. Sells 1,344 Shares of Apple Inc. $AAPL

Key Points

• Washburn Capital Management Inc. has reduced its position in Apple Inc. by 7.4%, selling 1,344 shares and retaining a total of 16,752 shares, which are valued at $3,721,000.
• Several institutional investors, including FLC Capital Advisors and Migdal Insurance & Financial Holdings Ltd., have increased their stakes in Apple, indicating a trend of modification in holdings among institutional investors.
• Apple's recent quarterly earnings report showed an EPS of $1.57, exceeding expectations, alongside a declared quarterly dividend of $0.26.

Washburn Capital Management Inc. lessened its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 7.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,752 shares of the iPhone maker's stock after selling 1,344 shares during the quarter. Apple accounts for about 2.1% of Washburn Capital Management Inc.'s holdings, making the stock its 6th biggest holding. Washburn Capital Management Inc.'s holdings in Apple were worth $3,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the stock. Advanced Portfolio Management LLC boosted its stake in shares of Apple by 0.3% in the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock valued at $3,260,000 after purchasing an additional 47 shares during the period. Salus Financial Advisors LLC grew its holdings in shares of Apple by 3.9% in the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker's stock valued at $291,000 after purchasing an additional 49 shares in the last quarter. Disciplined Investments LLC grew its holdings in shares of Apple by 0.7% in the fourth quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker's stock valued at $1,794,000 after purchasing an additional 51 shares in the last quarter. Sharpepoint LLC grew its holdings in shares of Apple by 3.5% in the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker's stock valued at $322,000 after purchasing an additional 51 shares in the last quarter. Finally, Mission Hills Financial Advisory LLC grew its holdings 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 purchasing an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of research reports. Wedbush restated an "outperform" rating and issued a $270.00 price objective on shares of Apple in a report on Thursday, August 7th. Needham & Company LLC restated a "hold" rating on shares of Apple in a report on Friday, July 25th. Evercore ISI restated an "outperform" rating and issued a $250.00 price objective on shares of Apple in a report on Wednesday, August 13th. Morgan Stanley lifted their price target on shares of Apple from $235.00 to $240.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Bank of America reiterated a "buy" rating and issued a $250.00 price target on shares of Apple in a research note on Monday, August 25th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Apple currently has an average rating of "Moderate Buy" and a consensus price target of $237.37.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the sale, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.06% of the company's stock.

Apple Stock Down 0.2%

Shares of NASDAQ:AAPL traded down $0.42 during trading on Monday, hitting $232.14. 39,382,353 shares of the company were exchanged, compared to its average volume of 55,684,536. The stock has a market capitalization of $3.45 trillion, a P/E ratio of 35.23, a PEG ratio of 2.42 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The firm's 50 day moving average price is $215.79 and its 200-day moving average price is $212.71.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company's revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.40 EPS. On average, research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's payout ratio is currently 15.78%.

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.