Warren Street Wealth Advisors LLC Sells 5,153 Shares of Apple Inc. (NASDAQ:AAPL)

Warren Street Wealth Advisors LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 37.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,473 shares of the iPhone maker’s stock after selling 5,153 shares during the period. Apple comprises about 0.9% of Warren Street Wealth Advisors LLC’s holdings, making the stock its 16th largest holding. Warren Street Wealth Advisors LLC’s holdings in Apple were worth $1,101,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. IFM Investors Pty Ltd lifted its stake in shares of Apple by 20.0% in the 1st quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock valued at $456,728,000 after acquiring an additional 435,891 shares during the last quarter. Ironwood Wealth Management LLC. lifted its stake in shares of Apple by 0.4% in the 1st quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock valued at $42,016,000 after acquiring an additional 1,040 shares during the last quarter. Markel Corp lifted its stake in shares of Apple by 0.7% in the 1st quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock valued at $210,752,000 after acquiring an additional 8,450 shares during the last quarter. Camden Capital LLC lifted its stake in shares of Apple by 9.2% in the 1st quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock valued at $27,305,000 after acquiring an additional 13,200 shares during the last quarter. Finally, Harbor Island Capital LLC lifted its stake in shares of Apple by 0.3% in the 1st quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock valued at $23,629,000 after acquiring an additional 400 shares during the last quarter. Institutional investors own 57.60% of the company’s stock.

Apple Trading Up 0.1 %

Shares of AAPL stock opened at $173.75 on Friday. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $176.15. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.88 and a current ratio of 0.94. The firm has a market capitalization of $2.75 trillion, a PE ratio of 29.50, a PEG ratio of 2.31 and a beta of 1.29. The stock has a fifty day simple moving average of $162.22 and a two-hundred day simple moving average of $149.65.

Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings results on Thursday, May 4th. The iPhone maker reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.08. The business had revenue of $94.84 billion during the quarter, compared to analyst estimates of $92.84 billion. Apple had a return on equity of 165.72% and a net margin of 24.49%. Apple’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.52 EPS. On average, analysts predict that Apple Inc. will post 6 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 18th. Stockholders of record on Monday, May 15th will be given a dividend of $0.24 per share. This is a positive change from Apple’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, May 12th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.55%. Apple’s dividend payout ratio (DPR) is presently 15.62%.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on AAPL shares. Deutsche Bank Aktiengesellschaft boosted their price target on Apple from $170.00 to $180.00 and gave the company a “buy” rating in a report on Friday, May 5th. Credit Suisse Group boosted their price target on Apple from $184.00 to $188.00 and gave the company an “outperform” rating in a report on Thursday, April 13th. Cowen reduced their price target on Apple from $200.00 to $195.00 and set an “outperform” rating on the stock in a report on Friday, February 3rd. Atlantic Securities boosted their price target on Apple from $180.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, May 5th. Finally, Canaccord Genuity Group upped their target price on Apple from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $174.29.

Insider Activity

In other news, CEO Timothy D. Cook sold 56,072 shares of the firm’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $165.17, for a total transaction of $9,261,412.24. Following the completion of the transaction, the chief executive officer now owns 3,280,052 shares in the company, valued at $541,766,188.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Timothy D. Cook sold 56,072 shares of the stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $165.17, for a total value of $9,261,412.24. Following the completion of the transaction, the chief executive officer now owns 3,280,052 shares of the company’s stock, valued at approximately $541,766,188.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 187,730 shares of the stock in a transaction dated Wednesday, March 22nd. The shares were sold at an average price of $159.76, for a total transaction 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 a total of 439,529 shares of company stock worth $71,703,657 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Apple 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.