Advisor OS LLC cut its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 57.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,882 shares of the iPhone maker’s stock after selling 25,704 shares during the quarter. Apple accounts for about 1.0% of Advisor OS LLC’s investment portfolio, making the stock its 22nd largest holding. Advisor OS LLC’s holdings in Apple were worth $3,297,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Joseph Group Capital Management purchased a new position in shares of Apple in the fourth quarter worth approximately $1,631,000. Cardinal Capital Management Inc. increased its stake in shares of Apple by 5,525.0% in the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after purchasing an additional 221 shares in the last quarter. Shore Point Advisors LLC bought a new position in Apple in the 4th quarter worth $41,000. Emerson Wealth LLC grew its holdings in Apple by 363.6% during the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after purchasing an additional 320 shares during the period. Finally, Econ Financial Services Corp increased its holdings in Apple by 29.1% in the 1st quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock worth $74,000 after acquiring an additional 95 shares in the last quarter. 57.72% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages recently weighed in on AAPL. Morgan Stanley dropped their target price on shares of Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Deutsche Bank Aktiengesellschaft set a $175.00 price objective on shares of Apple in a research report on Monday, August 1st. Bank of America cut their price target on shares of Apple from $200.00 to $185.00 in a report on Tuesday, July 26th. Fundamental Research set a $177.07 target price on Apple and gave the company a “buy” rating in a research note on Thursday, August 4th. Finally, Citigroup raised their price target on Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $182.00.
Insider Buying and Selling
In related news, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the transaction, the chief financial officer now owns 110,673 shares in the company, valued at $19,362,241.35. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the sale, the senior vice president now owns 427,334 shares in the company, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.
Apple Stock Down 0.8 %
AAPL opened at $154.53 on Wednesday. The company has a market cap of $2.48 trillion, a PE ratio of 25.50, a price-to-earnings-growth ratio of 2.02 and a beta of 1.23. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94. The company has a 50-day moving average price of $156.11 and a 200 day moving average price of $157.00. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63.
Apple (NASDAQ:AAPL – Get Rating) last released its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The business had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. During the same quarter last year, the business posted $1.30 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. Sell-side analysts expect that Apple Inc. will post 6.1 earnings per share for the current fiscal year.
Apple Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio is currently 15.18%.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.
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