Apple Inc. $AAPL Shares Sold by Y.D. More Investments Ltd

Key Points

• Y.D. More Investments Ltd reduced its holdings in Apple Inc. by 42.3%, selling 10,619 shares to leave them with 14,470 shares worth approximately $3.2 million.
• Apple recently posted earnings of $1.57 per share, exceeding analysts' expectations, with a revenue of $94.04 billion during the quarter.
• The company also announced a dividend of $0.26 per share, representing an annualized dividend of $1.04, with a current payout ratio of 15.78%.

Y.D. More Investments Ltd lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 42.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,470 shares of the iPhone maker's stock after selling 10,619 shares during the period. Y.D. More Investments Ltd's holdings in Apple were worth $3,227,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Burkett Financial Services LLC grew its position in Apple by 0.6% during the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock worth $3,199,000 after purchasing an additional 93 shares during the last quarter. Avid Wealth Partners LLC increased its position in shares of Apple by 28.3% in the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock valued at $935,000 after acquiring an additional 930 shares during the period. OneAscent Wealth Management LLC increased its position in shares of Apple by 4.6% in the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock valued at $2,337,000 after acquiring an additional 409 shares during the period. Bell & Brown Wealth Advisors LLC raised its stake in Apple by 0.4% in the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker's stock worth $13,772,000 after acquiring an additional 240 shares during the last quarter. Finally, TruWealth Advisors LLC lifted its position in Apple by 2.8% during the 1st quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker's stock worth $42,045,000 after acquiring an additional 5,120 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Price Performance

Shares of NASDAQ:AAPL traded down $7.56 during midday trading on Wednesday, reaching $226.79. 83,292,828 shares of the company's stock traded hands, compared to its average volume of 44,631,136. The company has a fifty day simple moving average of $220.75 and a two-hundred day simple moving average of $212.60. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a market cap of $3.37 trillion, a P/E ratio of 34.41, a PEG ratio of 2.45 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. The company had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm'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. Equities analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors 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 0.5%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio is 15.78%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AAPL. HSBC set a $220.00 price objective on Apple and gave the company a "hold" rating in a report on Monday. Morgan Stanley set a $240.00 price target on shares of Apple and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Raymond James Financial reaffirmed an "outperform" rating and issued a $240.00 price objective (up from $230.00) on shares of Apple in a report on Friday, August 1st. Monness Crespi & Hardt increased their price objective on shares of Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, BMO Capital Markets restated a "buy" rating on shares of Apple in a research report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Apple currently has a consensus rating of "Moderate Buy" and an average target price of $242.16.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the business's 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 completion of the sale, the senior vice president directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, 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.