Core Wealth Partners LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 64.2% during the first quarter, Holdings Channel.com reports. The fund owned 45,307 shares of the iPhone maker’s stock after selling 81,236 shares during the period. Apple comprises approximately 7.5% of Core Wealth Partners LLC’s holdings, making the stock its 2nd biggest position. Core Wealth Partners LLC’s holdings in Apple were worth $7,471,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Peninsula Wealth LLC raised its position in Apple by 0.8% during the first quarter. Peninsula Wealth LLC now owns 63,128 shares of the iPhone maker’s stock worth $10,410,000 after acquiring an additional 520 shares during the period. Taylor Hoffman Wealth Management raised its position in shares of Apple by 1.8% during the 1st quarter. Taylor Hoffman Wealth Management now owns 101,229 shares of the iPhone maker’s stock worth $16,693,000 after purchasing an additional 1,801 shares during the last quarter. Gruss & Co. LLC lifted its stake in Apple by 83.3% in the 1st quarter. Gruss & Co. LLC now owns 7,700 shares of the iPhone maker’s stock valued at $1,270,000 after buying an additional 3,500 shares in the last quarter. ProShare Advisors LLC increased its stake in Apple by 10.5% during the 1st quarter. ProShare Advisors LLC now owns 11,038,828 shares of the iPhone maker’s stock worth $1,820,303,000 after buying an additional 1,050,291 shares in the last quarter. Finally, Root Financial Partners LLC acquired a new position in shares of Apple during the first quarter valued at approximately $2,328,000. Hedge funds and other institutional investors own 58.51% of the company’s stock.
Insider Transactions at Apple
In related news, SVP Deirdre O’brien sold 15,419 shares of the stock in a transaction on Monday, August 7th. The shares were 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 directly owns 136,445 shares of the company’s stock, valued at approximately $24,363,619.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.06% of the company’s stock.
Apple Price Performance
Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share (EPS) for the quarter, topping 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 company had revenue of $81.80 billion during the quarter, compared to the consensus estimate of $81.79 billion. During the same period in the previous year, the business earned $1.20 EPS. Apple’s revenue for the quarter was down 1.4% on a year-over-year basis. Equities analysts forecast that Apple Inc. will post 6.05 EPS for the current fiscal year.
Apple Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.96 dividend on an annualized basis and a yield of 0.54%. Apple’s payout ratio is currently 16.13%.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the company. DA Davidson lowered Apple from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $193.00 to $185.00 in a report on Monday, June 5th. Credit Suisse Group boosted their price target on shares of Apple from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, July 20th. UBS Group downgraded shares of Apple from a “buy” rating to a “neutral” rating and increased their price objective for the company from $180.00 to $190.00 in a report on Monday, June 12th. Rosenblatt Securities cut Apple from a “buy” rating to a “neutral” rating and set a $198.00 target price on the stock. in a report on Friday, August 4th. Finally, 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, May 22nd. Ten equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $198.86.
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.
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