American Financial Advisors LLC Decreases Stake in Apple Inc. (NASDAQ:AAPL)

American Financial Advisors LLC lessened its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 2.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,737 shares of the iPhone maker’s stock after selling 1,116 shares during the quarter. Apple makes up approximately 1.0% of American Financial Advisors LLC’s holdings, making the stock its 25th biggest holding. American Financial Advisors LLC’s holdings in Apple were worth $7,288,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Alta Wealth Advisors LLC raised its stake in shares of Apple by 126.6% in the 1st quarter. Alta Wealth Advisors LLC now owns 32,138 shares of the iPhone maker’s stock valued at $5,612,000 after purchasing an additional 17,954 shares in the last quarter. Dorsey Wright & Associates acquired a new stake in Apple during the first quarter worth about $2,844,000. Crewe Advisors LLC raised its stake in Apple by 13.5% during the first quarter. Crewe Advisors LLC now owns 33,519 shares of the iPhone maker’s stock worth $5,853,000 after acquiring an additional 3,984 shares during the period. TruWealth Advisors LLC raised its stake in Apple by 4.5% during the first quarter. TruWealth Advisors LLC now owns 162,579 shares of the iPhone maker’s stock worth $28,388,000 after acquiring an additional 7,061 shares during the period. Finally, Paragon Private Wealth Management LLC acquired a new stake in Apple during the first quarter worth about $5,847,000. Institutional investors and hedge funds own 57.98% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on AAPL. Loop Capital dropped their price objective on shares of Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, May 25th. JPMorgan Chase & Co. set a $200.00 target price on shares of Apple in a research report on Monday, July 25th. Deutsche Bank Aktiengesellschaft set a $175.00 target price on shares of Apple in a research report on Monday. UBS Group set a $185.00 target price on shares of Apple in a research report on Thursday, July 21st. Finally, Itau BBA Securities started coverage on shares of Apple in a research report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.16.

Apple Stock Down 0.9 %

AAPL stock opened at $160.01 on Wednesday. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. The company has a market cap of $2.59 trillion, a price-to-earnings ratio of 26.40, a PEG ratio of 2.11 and a beta of 1.23. The company has a 50 day moving average of $145.07 and a two-hundred day moving average of $157.14.

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. The business had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. Apple’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.30 EPS. On average, equities analysts anticipate that Apple Inc. will post 6.08 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm 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 dividend of $0.23 per share. The ex-dividend date is Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.57%. Apple’s dividend payout ratio is currently 15.18%.

Apple declared that its board has authorized a share repurchase plan on Thursday, April 28th that allows the company to buyback $90.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to reacquire up to 3.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

About Apple

(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.

Read More

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLGet Rating).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Want More Great Investing Ideas?

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.