Apple Inc. (NASDAQ:AAPL) is WestHill Financial Advisors Inc.'s 9th Largest Position

Key Points

• WestHill Financial Advisors Inc. decreased its position in Apple Inc. by 4.7% in the first quarter, holding approximately $9.92 million worth of shares after selling 2,189 shares.
• Apple recently reported a quarterly revenue of $95.36 billion, exceeding analyst expectations, and its board approved a $100 billion stock repurchase plan as a sign of confidence in its stock value.
• The company announced an increase in its quarterly dividend from $0.25 to $0.26, translating to an annualized dividend yield of 0.49% and a payout ratio of 16.20%.

WestHill Financial Advisors Inc. lowered its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,645 shares of the iPhone maker's stock after selling 2,189 shares during the period. Apple makes up approximately 2.3% of WestHill Financial Advisors Inc.'s portfolio, making the stock its 9th largest position. WestHill Financial Advisors Inc.'s holdings in Apple were worth $9,917,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Tallon Kerry Patrick bought a new stake in Apple in the 4th quarter worth approximately $1,877,000. First National Bank of Hutchinson grew its position 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 worth $8,845,000 after purchasing an additional 6,982 shares during the period. Capital & Planning LLC grew its position in Apple by 10.7% in the 4th quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker's stock worth $6,836,000 after purchasing an additional 2,647 shares during the period. Eagle Capital Management LLC grew its position in Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after purchasing an additional 272 shares during the period. Finally, Brighton Jones LLC grew its position in Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after purchasing an additional 69,207 shares during the period. Institutional investors own 67.73% of the company's stock.

Insider Transactions at Apple

In other Apple news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider directly owned 15,533 shares of the company's stock, valued at $3,233,815.27. The trade was a 22.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research analyst reports. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Apple in a research report on Wednesday, May 21st. Wedbush reiterated an "outperform" rating and set a $270.00 price target on shares of Apple in a research note on Wednesday, July 9th. Jefferies Financial Group upgraded shares of Apple from an "underperform" rating to a "hold" rating in a research note on Friday, July 18th. China Renaissance initiated coverage on shares of Apple in a research note on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price target on the stock. Finally, UBS Group reiterated a "hold" rating on shares of Apple in a research note on Friday, July 18th. Two 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $234.94.

Apple Trading Down 0.7%

NASDAQ:AAPL traded down $1.53 during mid-day trading on Tuesday, hitting $212.52. 11,262,509 shares of the stock traded hands, compared to its average volume of 56,283,719. The stock has a market capitalization of $3.17 trillion, a price-to-earnings ratio of 33.10, a PEG ratio of 2.39 and a beta of 1.20. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The firm's 50 day moving average is $204.87 and its two-hundred day moving average is $214.22.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data 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 company had revenue of $95.36 billion during 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 previous year, the company earned $1.53 EPS. On average, equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple announced that its Board of Directors has authorized a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

Apple Increases Dividend

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

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.