Dodds Wealth LLC Decreases Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Dodds Wealth LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,737 shares of the iPhone maker’s stock after selling 93 shares during the period. Apple comprises approximately 1.0% of Dodds Wealth LLC’s investment portfolio, making the stock its 16th largest holding. Dodds Wealth LLC’s holdings in Apple were worth $3,051,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Drystone LLC purchased a new position in shares of Apple during the 4th quarter worth $25,000. Conquis Financial LLC purchased a new position in shares of Apple during the 4th quarter worth $63,000. LSV Asset Management purchased a new position in shares of Apple during the 4th quarter worth $65,000. Pillar Financial Advisors LLC purchased a new position in shares of Apple during the 4th quarter worth $82,000. Finally, Compass Planning Associates Inc purchased a new position in shares of Apple during the 4th quarter worth $96,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $209.11 on Wednesday. The company has a market cap of $3.12 trillion, a P/E ratio of 32.57, a P/E/G ratio of 2.33 and a beta of 1.20. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. The stock has a 50-day moving average of $203.79 and a two-hundred day moving average of $216.45. Apple Inc. has a 1-year low of $169.21 and a 1-year 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 the consensus estimate of $1.62 by $0.03. The business had revenue of $95.36 billion during the quarter, compared to analysts’ expectations of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.53 EPS. As a group, analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Monday, May 12th. This is a boost from Apple’s previous quarterly dividend of $0.25. Apple’s dividend payout ratio (DPR) is presently 16.20%.

Apple declared that its Board of Directors has initiated a stock repurchase 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 stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

AAPL has been the topic of several analyst reports. Loop Capital reduced their price target on Apple from $230.00 to $215.00 and set a “hold” rating on the stock in a report on Wednesday, April 30th. China Renaissance initiated coverage on Apple in a report on Tuesday, April 22nd. They set a “buy” rating and a $241.00 price target on the stock. Monness Crespi & Hardt lifted their price target on Apple to $245.00 and gave the stock a “buy” rating in a report on Tuesday, June 10th. Rosenblatt Securities lowered Apple from a “buy” rating to a “neutral” rating and set a $217.00 price target on the stock. in a report on Friday, May 2nd. Finally, Bank of America reissued a “buy” rating and set a $235.00 price objective on shares of Apple in a research report on Tuesday, June 10th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $235.27.

Insider Activity

In other news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the transaction, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of Apple 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 $941,214. The trade was a 50.01% decrease in their position. The disclosure for this sale can be found here. Company 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.