Proquility Private Wealth Partners LLC Sells 1,105 Shares of Apple Inc. (NASDAQ:AAPL)

Proquility Private Wealth Partners LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 19.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,607 shares of the iPhone maker’s stock after selling 1,105 shares during the quarter. Proquility Private Wealth Partners LLC’s holdings in Apple were worth $887,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Wyrmwood Management LLC raised its holdings in shares of Apple by 69.0% in the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 69 shares during the period. Gilfoyle & Co LLC raised its holdings in shares of Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares during the period. PayPay Securities Corp raised its holdings in shares of Apple by 70.2% in the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after purchasing an additional 210 shares during the period. Cordant Inc. raised its holdings in Apple by 27.7% during the 3rd quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock valued at $110,000 after acquiring an additional 140 shares during the period. Finally, Friedenthal Financial bought a new stake in Apple during the 4th quarter valued at $111,000. Institutional investors own 60.41% of the company’s stock.

Apple Price Performance

AAPL stock opened at $196.89 on Friday. The firm’s 50-day moving average price is $179.90 and its two-hundred day moving average price is $183.43. The stock has a market capitalization of $3.02 trillion, a price-to-earnings ratio of 30.62, a PEG ratio of 2.37 and a beta of 1.25. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $199.62.

Apple (NASDAQ:AAPLGet Free Report) last issued its quarterly earnings data 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. Apple had a net margin of 26.31% and a return on equity of 148.33%. The business had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. During the same period in the previous year, the firm earned $1.52 EPS. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, equities analysts predict that Apple Inc. will post 6.57 earnings per share for the current year.

Apple announced that its Board of Directors has approved a share repurchase program on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were issued a $0.25 dividend. The ex-dividend date was Friday, May 10th. This is a positive change from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 0.51%. Apple’s dividend payout ratio (DPR) is 15.55%.

Insider Buying and Selling at Apple

In other news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was 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 owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 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 sale, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $18,768,046.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 346,270 shares of company stock valued at $60,880,196. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AAPL shares. Maxim Group started coverage on shares of Apple in a report on Wednesday, April 17th. They set a “hold” rating and a $178.00 target price on the stock. Monness Crespi & Hardt reissued a “buy” rating and set a $205.00 target price on shares of Apple in a report on Thursday. Bank of America reissued a “buy” rating and set a $230.00 target price on shares of Apple in a report on Wednesday, May 29th. Sanford C. Bernstein raised shares of Apple from a “market perform” rating to an “outperform” rating and set a $195.00 target price on the stock in a report on Monday, April 29th. Finally, Canaccord Genuity Group boosted their target price on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a report on Saturday, May 4th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $205.59.

Check Out Our Latest Stock Analysis on AAPL

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.

See Also

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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