Silicon Valley Capital Partners Lowers Stock Position in Apple Inc. (NASDAQ:AAPL)

Silicon Valley Capital Partners lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 5.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 157,943 shares of the iPhone maker’s stock after selling 8,587 shares during the quarter. Apple accounts for approximately 5.5% of Silicon Valley Capital Partners’ holdings, making the stock its 5th biggest holding. Silicon Valley Capital Partners’ holdings in Apple were worth $26,045,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AAPL. MKT Advisors LLC grew its stake in shares of Apple by 0.5% during the 2nd quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock worth $1,777,000 after acquiring an additional 60 shares in the last quarter. Aspire Capital Advisors LLC grew its stake in shares of Apple by 0.5% during the 1st quarter. Aspire Capital Advisors LLC now owns 14,076 shares of the iPhone maker’s stock worth $2,321,000 after acquiring an additional 64 shares in the last quarter. Freedom Wealth Alliance LLC grew its stake in shares of Apple by 0.4% during the 1st quarter. Freedom Wealth Alliance LLC now owns 16,091 shares of the iPhone maker’s stock worth $2,653,000 after acquiring an additional 67 shares in the last quarter. Adaptive Financial Consulting LLC grew its stake in shares of Apple by 2.7% during the 4th quarter. Adaptive Financial Consulting LLC now owns 2,606 shares of the iPhone maker’s stock worth $339,000 after acquiring an additional 68 shares in the last quarter. Finally, PFG Private Wealth Management LLC grew its stake in shares of Apple by 0.9% during the 1st quarter. PFG Private Wealth Management LLC now owns 7,644 shares of the iPhone maker’s stock worth $1,260,000 after acquiring an additional 68 shares in the last quarter. Institutional investors own 58.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Credit Suisse Group raised their price target on shares of Apple from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, July 20th. Oppenheimer raised their price target on shares of Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Jefferies Financial Group decreased their target price on shares of Apple from $225.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, August 4th. Tigress Financial raised their target price on shares of Apple from $210.00 to $225.00 in a research note on Friday, June 23rd. Finally, Loop Capital cut shares of Apple from a “buy” rating to a “hold” rating and set a $180.00 target price for the company. in a research note on Monday, May 22nd. Ten investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average price target of $198.86.

Apple Stock Up 0.1 %

AAPL stock opened at $189.70 on Wednesday. The company has a market cap of $2.97 trillion, a PE ratio of 31.88, a price-to-earnings-growth ratio of 2.76 and a beta of 1.27. The business has a 50-day simple moving average of $186.94 and a 200 day simple moving average of $174.00. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $198.23. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.63.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. Apple had a return on equity of 164.92% and a net margin of 24.68%. The business had revenue of $81.80 billion during the quarter, compared to the consensus estimate of $81.79 billion. During the same quarter in the previous year, the firm earned $1.20 earnings per share. Apple’s revenue for the quarter was down 1.4% compared to the same quarter last year. Sell-side analysts anticipate that Apple Inc. will post 6.05 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Friday, August 11th. Apple’s dividend payout ratio is presently 16.13%.

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O’brien sold 15,419 shares of Apple stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $178.56, for a total value of $2,753,216.64. Following the transaction, the senior vice president now owns 136,445 shares in the company, valued at $24,363,619.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

Apple 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.