Demars Financial Group LLC Sells 688 Shares of Apple Inc. (NASDAQ:AAPL)

Demars Financial Group LLC reduced its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 2.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,125 shares of the iPhone maker’s stock after selling 688 shares during the quarter. Apple makes up about 2.4% of Demars Financial Group LLC’s investment portfolio, making the stock its 11th largest holding. Demars Financial Group LLC’s holdings in Apple were worth $4,736,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Curran Financial Partners LLC lifted its holdings in shares of Apple by 73.7% in the first quarter. Curran Financial Partners LLC now owns 28,164 shares of the iPhone maker’s stock worth $4,918,000 after buying an additional 11,948 shares in the last quarter. Advisory Services & Investments LLC purchased a new position in shares of Apple in the first quarter worth $343,000. Perennial Advisors LLC lifted its holdings in shares of Apple by 3.3% in the first quarter. Perennial Advisors LLC now owns 123,644 shares of the iPhone maker’s stock worth $21,589,000 after buying an additional 3,962 shares in the last quarter. HHM Wealth Advisors LLC lifted its holdings in shares of Apple by 1.5% in the first quarter. HHM Wealth Advisors LLC now owns 45,773 shares of the iPhone maker’s stock worth $7,992,000 after buying an additional 675 shares in the last quarter. Finally, Armstrong Henry H Associates Inc. lifted its holdings in shares of Apple by 1.0% in the first quarter. Armstrong Henry H Associates Inc. now owns 69,928 shares of the iPhone maker’s stock worth $12,210,000 after buying an additional 704 shares in the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AAPL shares. Itau BBA Securities started coverage on shares of Apple in a research note on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target on the stock. Sanford C. Bernstein set a $170.00 price target on shares of Apple in a research note on Monday, May 2nd. Rosenblatt Securities decreased their price target on shares of Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday. The Goldman Sachs Group set a $139.00 price target on shares of Apple in a research note on Friday. Finally, KeyCorp decreased their price target on shares of Apple from $191.00 to $173.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $179.04.

Apple Stock Down 0.6 %

Shares of Apple stock opened at $161.51 on Tuesday. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The stock has a market cap of $2.61 trillion, a price-to-earnings ratio of 26.65, a PEG ratio of 2.11 and a beta of 1.23. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. The firm’s 50-day moving average is $144.68 and its two-hundred day moving average is $157.12.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The business had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. During the same period last year, the business earned $1.30 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. As a group, research analysts expect that Apple Inc. will post 6.08 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Monday, August 8th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Friday, August 5th. Apple’s dividend payout ratio is currently 15.18%.

Apple declared that its Board of Directors has approved a stock buyback plan on Thursday, April 28th that authorizes the company to repurchase $90.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total value of $4,043,000.00. Following the completion of the transaction, the senior vice president now directly owns 452,334 shares of the company’s stock, valued at approximately $73,151,454.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.06% of the company’s stock.

Apple Company Profile

(Get Rating)

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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