Beta Wealth Group Inc. Decreases Holdings in Apple Inc. (NASDAQ:AAPL)

Beta Wealth Group Inc. trimmed its stake in Apple Inc. (NASDAQ:AAPLFree Report) by 10.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,344 shares of the iPhone maker’s stock after selling 3,085 shares during the quarter. Apple makes up 2.6% of Beta Wealth Group Inc.’s holdings, making the stock its 11th biggest position. Beta Wealth Group Inc.’s holdings in Apple were worth $4,879,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Conservest Capital Advisors Inc. lifted its holdings in shares of Apple by 0.3% in the 3rd quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock worth $2,877,000 after acquiring an additional 55 shares during the last quarter. Flagstone Financial Management raised its position in Apple by 0.9% in the 4th quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock worth $1,173,000 after purchasing an additional 56 shares during the period. High Pines Wealth Management LLC lifted its stake in Apple by 0.7% in the fourth quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock worth $1,638,000 after purchasing an additional 58 shares during the last quarter. Asset Planning Corporation boosted its position in Apple by 1.0% during the fourth quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock valued at $1,181,000 after buying an additional 59 shares during the period. Finally, Columbus Macro LLC grew its stake in shares of Apple by 0.5% during the fourth quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock valued at $2,120,000 after buying an additional 59 shares during the last quarter. 60.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AAPL has been the subject of a number of recent research reports. UBS Group reissued a “hold” rating and issued a $190.00 target price on shares of Apple in a research note on Monday, March 25th. Sanford C. Bernstein raised Apple from a “market perform” rating to an “outperform” rating and set a $195.00 price objective for the company in a research note on Monday, April 29th. Monness Crespi & Hardt restated a “buy” rating and issued a $205.00 target price on shares of Apple in a report on Thursday. Loop Capital lowered their price target on shares of Apple from $185.00 to $170.00 and set a “hold” rating for the company in a report on Monday, April 1st. Finally, DZ Bank reissued a “hold” rating and issued a $180.00 price target on shares of Apple in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.59.

View Our Latest Stock Analysis on Apple

Apple Trading Up 1.2 %

NASDAQ:AAPL opened at $196.89 on Friday. The firm has a market capitalization of $3.02 trillion, a P/E ratio of 30.62, a PEG ratio of 2.39 and a beta of 1.25. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. Apple Inc. has a one year low of $164.07 and a one year high of $199.62. The company’s 50-day simple moving average is $179.90 and its 200 day simple moving average is $183.48.

Apple (NASDAQ:AAPLGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The firm had revenue of $90.75 billion for the quarter, compared to analysts’ expectations of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.52 EPS. As a group, analysts forecast that Apple Inc. will post 6.57 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were paid a $0.25 dividend. This is a boost from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Friday, May 10th. Apple’s dividend payout ratio is currently 15.55%.

Apple declared that its board has authorized a stock buyback program on Thursday, May 2nd that allows the company to repurchase $110.00 billion in shares. This repurchase authorization allows the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the transaction, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Chris Kondo sold 4,999 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total transaction of $951,809.60. Following the completion of the sale, the insider now owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the transaction, the chief executive officer now directly owns 3,377,407 shares in the company, valued at $574,260,512.21. The disclosure for this sale can be found here. Insiders sold 346,270 shares of company stock worth $60,880,196 over the last three months. 0.06% of the stock is currently owned by corporate insiders.

Apple Company Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLFree Report).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.