Prio Wealth Limited Partnership Sells 13,895 Shares of Apple Inc. (NASDAQ:AAPL)

Prio Wealth Limited Partnership cut its position in Apple Inc. (NASDAQ:AAPL) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,369,133 shares of the iPhone maker’s stock after selling 13,895 shares during the period. Apple accounts for 9.0% of Prio Wealth Limited Partnership’s holdings, making the stock its largest position. Prio Wealth Limited Partnership’s holdings in Apple were worth $263,599,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in AAPL. Atlantic Private Wealth LLC purchased a new position in Apple during the first quarter worth approximately $30,000. Wyrmwood Management LLC lifted its position in Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after buying an additional 69 shares in the last quarter. Gilfoyle & Co LLC lifted its position in Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after buying an additional 118 shares in the last quarter. Summit Wealth Group LLC lifted its position in Apple by 16,252.3% during the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after buying an additional 6,949,659 shares in the last quarter. Finally, HBC Financial Services PLLC lifted its position in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares in the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Apple

In other news, SVP Deirdre O’brien sold 54,732 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the transaction, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Deirdre O’brien sold 54,732 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the transaction, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the transaction, the director now directly owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 366,271 shares of company stock valued at $63,653,887. 0.06% of the stock is currently owned by corporate insiders.

Apple Trading Down 1.2 %

AAPL opened at $165.00 on Monday. Apple Inc. has a 12 month low of $162.80 and a 12 month high of $199.62. The stock has a market capitalization of $2.55 trillion, a price-to-earnings ratio of 25.70, a PEG ratio of 1.99 and a beta of 1.27. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02. The business has a fifty day moving average price of $174.67 and a 200 day moving average price of $182.17.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.09. The business had revenue of $119.60 billion during the quarter, compared to analysts’ expectations of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.88 EPS. Sell-side analysts expect that Apple Inc. will post 6.54 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.96 annualized dividend and a dividend yield of 0.58%. Apple’s dividend payout ratio is currently 14.95%.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of analyst reports. DZ Bank reiterated a “hold” rating and set a $180.00 price objective on shares of Apple in a research report on Thursday, March 28th. DA Davidson started coverage on Apple in a research report on Wednesday, January 3rd. They issued a “neutral” rating and a $166.00 target price on the stock. Loop Capital reduced their target price on Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. Piper Sandler reduced their target price on Apple from $205.00 to $190.00 and set a “neutral” rating on the stock in a research report on Friday, February 2nd. Finally, UBS Group restated a “hold” rating and issued a $190.00 target price on shares of Apple in a research report on Monday, March 25th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $203.34.

Apple Company 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.