Bridgeworth LLC Sells 792 Shares of Apple Inc. (NASDAQ:AAPL)

Bridgeworth LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% in the fourth quarter, Holdings Channel reports. The fund owned 49,456 shares of the iPhone maker’s stock after selling 792 shares during the quarter. Apple comprises approximately 0.9% of Bridgeworth LLC’s investment portfolio, making the stock its 20th biggest holding. Bridgeworth LLC’s holdings in Apple were worth $9,522,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Conservest Capital Advisors Inc. boosted its holdings in Apple by 0.3% in the third quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock valued at $2,877,000 after purchasing an additional 55 shares in the last quarter. High Pines Wealth Management LLC grew its position in shares of Apple by 0.7% in the 4th quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock valued at $1,638,000 after buying an additional 58 shares during the last quarter. Asset Planning Corporation raised its stake in Apple by 1.0% during the 4th quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock worth $1,181,000 after acquiring an additional 59 shares in the last quarter. Columbus Macro LLC lifted its position in Apple by 0.5% in the fourth quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock valued at $2,120,000 after acquiring an additional 59 shares during the last quarter. Finally, Family CFO Inc boosted its stake in Apple by 6.7% in the third quarter. Family CFO Inc now owns 950 shares of the iPhone maker’s stock valued at $163,000 after acquiring an additional 60 shares in the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction on 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 completion of the sale, the director now owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the transaction, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Arthur D. Levinson sold 100,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the sale, 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. Insiders have sold a total of 366,271 shares of company stock valued at $63,653,887 in the last quarter. 0.06% of the stock is currently owned by company insiders.

Apple Stock Performance

NASDAQ AAPL opened at $183.38 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. The stock has a market cap of $2.83 trillion, a price-to-earnings ratio of 28.52, a price-to-earnings-growth ratio of 2.09 and a beta of 1.26. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $199.62. The business has a fifty day moving average of $172.17 and a 200-day moving average of $181.60.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The company had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 153.25%. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.52 EPS. As a group, analysts predict that Apple Inc. will post 6.53 earnings per share for the current fiscal year.

Apple declared that its Board of Directors has authorized a share buyback plan on Thursday, May 2nd that permits the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 13th will be paid a $0.25 dividend. This is a boost from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Friday, May 10th. Apple’s payout ratio is presently 14.93%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AAPL. Canaccord Genuity Group raised their price target on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Saturday. UBS Group reaffirmed a “hold” rating and issued a $190.00 target price on shares of Apple in a report on Monday, March 25th. Canaccord Genuity Group increased their price target on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday. Oppenheimer restated an “outperform” rating and issued a $200.00 price objective on shares of Apple in a research note on Friday, February 2nd. Finally, The Goldman Sachs Group increased their target price on shares of Apple from $223.00 to $232.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $204.00.

About Apple

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.