Apple Inc. (NASDAQ:AAPL) Shares Sold by Cora Capital Advisors LLC

Cora Capital Advisors LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.2% during the 1st quarter, Holdings Channel reports. The firm owned 33,721 shares of the iPhone maker’s stock after selling 54 shares during the period. Apple comprises about 3.6% of Cora Capital Advisors LLC’s investment portfolio, making the stock its 6th biggest position. Cora Capital Advisors LLC’s holdings in Apple were worth $7,490,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AAPL. AFG Fiduciary Services Limited Partnership increased its stake in shares of Apple by 1.3% during the 1st quarter. AFG Fiduciary Services Limited Partnership now owns 5,925 shares of the iPhone maker’s stock worth $1,316,000 after purchasing an additional 77 shares during the last quarter. Alpha Family Trust grew its holdings in Apple by 13.4% during the first quarter. Alpha Family Trust now owns 64,310 shares of the iPhone maker’s stock worth $14,285,000 after purchasing an additional 7,610 shares during the period. Hudson Capital Management LLC increased its position in Apple by 1.5% during the first quarter. Hudson Capital Management LLC now owns 29,039 shares of the iPhone maker’s stock worth $6,450,000 after buying an additional 423 shares during the last quarter. 626 Financial LLC increased its position in Apple by 2.3% during the first quarter. 626 Financial LLC now owns 52,006 shares of the iPhone maker’s stock worth $11,552,000 after buying an additional 1,177 shares during the last quarter. Finally, Curat Global LLC bought a new stake in Apple in the first quarter valued at approximately $432,000. Institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the transaction, the chief financial officer owned 4,569 shares of the company’s stock, valued at approximately $941,214. This represents a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,486 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the sale, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Apple Price Performance

AAPL stock opened at $213.36 on Friday. The company’s 50-day moving average price is $203.35 and its two-hundred day moving average price is $218.86. The firm has a market cap of $3.19 trillion, a P/E ratio of 33.23, a P/E/G ratio of 2.38 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 12 month low of $169.21 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business had revenue of $95.36 billion for the quarter, compared to analysts’ expectations of $94.04 billion. During the same period last year, the firm posted $1.53 earnings per share. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple declared that its Board of Directors has approved a stock buyback plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a $0.26 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. Apple’s dividend payout ratio (DPR) is presently 16.20%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AAPL. Evercore ISI lifted their target price on Apple to $250.00 and gave the stock a “buy” rating in a research note on Friday, June 6th. DA Davidson lifted their price objective on shares of Apple from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. dropped their price objective on shares of Apple from $245.00 to $230.00 and set an “overweight” rating on the stock in a research report on Thursday, June 26th. Rosenblatt Securities cut shares of Apple from a “buy” rating to a “neutral” rating and set a $217.00 target price for the company. in a research note on Friday, May 2nd. Finally, Raymond James Financial reduced their target price on shares of Apple from $250.00 to $230.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $234.95.

About Apple

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.