Brandywine Oak Private Wealth LLC Sells 4,281 Shares of Apple Inc. (NASDAQ:AAPL)

Brandywine Oak Private Wealth LLC reduced its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 3.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 110,114 shares of the iPhone maker’s stock after selling 4,281 shares during the quarter. Apple makes up about 1.8% of Brandywine Oak Private Wealth LLC’s portfolio, making the stock its 11th largest holding. Brandywine Oak Private Wealth LLC’s holdings in Apple were worth $14,307,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. MKT Advisors LLC lifted its stake in shares of Apple by 0.5% in the second quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock valued at $1,777,000 after purchasing an additional 60 shares during the period. Silver Oak Advisory Group Inc. lifted its stake in shares of Apple by 1.8% in the second quarter. Silver Oak Advisory Group Inc. now owns 3,925 shares of the iPhone maker’s stock valued at $537,000 after purchasing an additional 69 shares during the period. 3D L Capital Management LLC raised its holdings in Apple by 2.9% during the first quarter. 3D L Capital Management LLC now owns 2,445 shares of the iPhone maker’s stock worth $427,000 after purchasing an additional 70 shares during the last quarter. Weik Capital Management raised its holdings in Apple by 0.3% during the first quarter. Weik Capital Management now owns 25,238 shares of the iPhone maker’s stock worth $4,407,000 after purchasing an additional 70 shares during the last quarter. Finally, Coyle Financial Counsel LLC raised its holdings in Apple by 0.3% during the second quarter. Coyle Financial Counsel LLC now owns 26,125 shares of the iPhone maker’s stock worth $3,572,000 after purchasing an additional 71 shares during the last quarter. 57.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Robert W. Baird lifted their target price on shares of Apple from $170.00 to $180.00 in a research report on Tuesday, May 2nd. The Goldman Sachs Group began coverage on Apple in a report on Sunday, March 5th. They issued a “buy” rating and a $199.00 price target for the company. Loop Capital cut Apple from a “buy” rating to a “hold” rating and set a $180.00 price target for the company. in a report on Monday. Jefferies Financial Group reissued a “buy” rating and issued a $195.00 price objective on shares of Apple in a research report on Thursday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Apple from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, May 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $174.74.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 4,092 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $173.26, for a total transaction of $708,979.92. Following the completion of the sale, the insider now directly owns 33,946 shares in the company, valued at $5,881,483.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Chris Kondo sold 4,092 shares of Apple stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $173.26, for a total value of $708,979.92. Following the completion of the sale, the insider now directly owns 33,946 shares in the company, valued at $5,881,483.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 187,730 shares of the business’s stock in a transaction dated Wednesday, March 22nd. The shares were sold at an average price of $159.76, for a total value of $29,991,744.80. Following the completion of the transaction, the chief operating officer now directly owns 489,816 shares of the company’s stock, valued at approximately $78,253,004.16. The disclosure for this sale can be found here. Insiders sold 439,529 shares of company stock valued at $71,703,657 in the last quarter. 0.06% of the stock is currently owned by insiders.

Apple Stock Down 1.5 %

Shares of AAPL stock opened at $171.56 on Wednesday. The firm has a fifty day moving average of $165.70 and a 200-day moving average of $151.11. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.56. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $176.39. The company has a market capitalization of $2.70 trillion, a price-to-earnings ratio of 29.13, a P/E/G ratio of 2.34 and a beta of 1.29.

Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings results on Thursday, May 4th. The iPhone maker reported $1.52 EPS for the quarter, topping the consensus estimate of $1.44 by $0.08. The firm had revenue of $94.84 billion for the quarter, compared to analysts’ expectations of $92.84 billion. Apple had a net margin of 24.49% and a return on equity of 165.72%. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.52 EPS. As a group, equities research analysts predict that Apple Inc. will post 5.99 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Monday, May 15th were paid a $0.24 dividend. This is an increase from Apple’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 0.56%. The ex-dividend date was Friday, May 12th. Apple’s dividend payout ratio (DPR) is 16.30%.

Apple declared that its board has initiated a stock repurchase program on Thursday, May 4th that permits the company to buyback $90.00 billion in shares. This buyback authorization permits the iPhone maker to reacquire up to 3.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Apple Company Profile

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Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.