Onyx Bridge Wealth Group LLC Has $20.09 Million Stock Position in Apple Inc. $AAPL

Onyx Bridge Wealth Group LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 2.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,460 shares of the iPhone maker’s stock after selling 1,972 shares during the period. Apple makes up about 2.9% of Onyx Bridge Wealth Group LLC’s portfolio, making the stock its 6th biggest position. Onyx Bridge Wealth Group LLC’s holdings in Apple were worth $20,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in AAPL. Advanced Portfolio Management LLC grew its position in shares of Apple by 0.3% in the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock valued at $3,260,000 after purchasing an additional 47 shares during the last quarter. Salus Financial Advisors LLC increased its stake in Apple by 3.9% in the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock valued at $291,000 after purchasing an additional 49 shares during the last quarter. Disciplined Investments LLC lifted its holdings in shares of Apple by 0.7% during the 4th quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker’s stock worth $1,794,000 after acquiring an additional 51 shares during the period. Redwood Financial Network Corp boosted its holdings in shares of Apple by 0.6% in the 4th quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker’s stock valued at $2,184,000 after purchasing an additional 53 shares during the last quarter. Finally, Mission Hills Financial Advisory LLC grew its position in Apple by 1.3% during the first quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker’s stock valued at $892,000 after acquiring an additional 53 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Down 2.0%

Apple stock opened at $226.01 on Thursday. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The stock has a market cap of $3.35 trillion, a price-to-earnings ratio of 34.30, a PEG ratio of 2.41 and a beta of 1.16. The company’s 50-day moving average price is $211.38 and its two-hundred day moving average price is $213.15.

Apple (NASDAQ:AAPL) last announced its 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 firm had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.40 earnings per share. On average, analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple declared that its Board of Directors has authorized a share repurchase plan on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, August 11th. Apple’s payout ratio is presently 15.78%.

Insider Activity

In other news, SVP Deirdre O’brien sold 34,821 shares of the business’s stock in a transaction 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 sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on AAPL. Wedbush reissued an “outperform” rating and issued a $270.00 price objective on shares of Apple in a research report on Thursday, August 7th. Scotiabank downgraded shares of Apple to a “market perform” rating in a research note on Friday, May 2nd. Loop Capital reduced their price target on Apple from $230.00 to $215.00 and set a “hold” rating for the company in a report on Wednesday, April 30th. Monness Crespi & Hardt raised their price objective on shares of Apple from $245.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $237.60.

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.