Apple Inc. (NASDAQ:AAPL) Stake Lowered by AGH Wealth Advisors LLC

AGH Wealth Advisors LLC lessened its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 24,400 shares of the iPhone maker’s stock after selling 298 shares during the quarter. Apple comprises about 5.2% of AGH Wealth Advisors LLC’s investment portfolio, making the stock its 4th biggest holding. AGH Wealth Advisors LLC’s holdings in Apple were worth $5,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. OneAscent Wealth Management LLC increased its position in Apple by 4.6% in the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock worth $2,337,000 after purchasing an additional 409 shares during the last quarter. TruWealth Advisors LLC grew its stake in shares of Apple by 2.8% in the 1st quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker’s stock worth $42,045,000 after buying an additional 5,120 shares in the last quarter. Allstate Corp grew its stake in shares of Apple by 3,368.2% in the 4th quarter. Allstate Corp now owns 451,489 shares of the iPhone maker’s stock worth $113,062,000 after buying an additional 438,471 shares in the last quarter. Vinva Investment Management Ltd increased its holdings in shares of Apple by 12.4% in the 4th quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker’s stock worth $192,700,000 after buying an additional 83,997 shares during the last quarter. Finally, Tradewinds Capital Management LLC increased its holdings in shares of Apple by 9.2% in the 4th quarter. Tradewinds Capital Management LLC now owns 21,198 shares of the iPhone maker’s stock worth $5,308,000 after buying an additional 1,779 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Transactions at Apple

In related news, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the transaction, the chief financial officer directly owned 4,569 shares of the company’s stock, valued at $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 4,486 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the transaction, the insider directly owned 15,533 shares of the company’s stock, valued at $3,233,815.27. This trade represents a 22.41% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of a number of analyst reports. Morgan Stanley reaffirmed an “overweight” rating on shares of Apple in a report on Friday, June 13th. Needham & Company LLC restated a “hold” rating on shares of Apple in a research report on Tuesday, June 10th. Rosenblatt Securities lowered Apple from a “buy” rating to a “neutral” rating and set a $217.00 price objective for the company. in a research note on Friday, May 2nd. Wedbush reissued an “outperform” rating and set a $270.00 target price on shares of Apple in a research report on Tuesday, June 10th. Finally, Citigroup restated a “buy” rating on shares of Apple in a report on Tuesday, June 10th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average price target of $234.95.

Apple Trading Up 0.4%

AAPL opened at $213.36 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. The stock’s fifty day moving average is $203.35 and its two-hundred day moving average is $218.86. The company has a market capitalization of $3.19 trillion, a P/E ratio of 33.23, a PEG ratio of 2.38 and a beta of 1.20. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.

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

Apple announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a dividend of $0.26 per share. This is an increase from Apple’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. Apple’s dividend payout ratio (DPR) is 16.20%.

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.