Enzi Wealth Sells 138 Shares of Apple Inc. (NASDAQ:AAPL)

Enzi Wealth reduced its position in Apple Inc. (NASDAQ:AAPLFree Report) by 1.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 7,576 shares of the iPhone maker’s stock after selling 138 shares during the period. Apple accounts for approximately 0.6% of Enzi Wealth’s portfolio, making the stock its 20th largest holding. Enzi Wealth’s holdings in Apple were worth $1,308,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Flagstone Financial Management raised its holdings in shares of Apple by 0.9% during the fourth quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock valued at $1,173,000 after acquiring an additional 56 shares in the last quarter. High Pines Wealth Management LLC raised its holdings in shares of Apple by 0.7% during the fourth quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock valued at $1,638,000 after acquiring an additional 58 shares in the last quarter. Asset Planning Corporation raised its holdings in shares of 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 acquiring an additional 59 shares in the last quarter. Columbus Macro LLC raised its holdings 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 acquiring an additional 59 shares in the last quarter. Finally, Stableford Capital II LLC raised its holdings in shares of Apple by 0.3% during the first quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock valued at $2,942,000 after acquiring an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Stock Up 2.2 %

AAPL stock opened at $226.34 on Friday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $226.45. The business’s 50-day moving average is $197.44 and its two-hundred day moving average is $186.24. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. The company has a market cap of $3.47 trillion, a price-to-earnings ratio of 35.20, a P/E/G ratio of 2.69 and a beta of 1.24.

Apple (NASDAQ:AAPLGet Free Report) last posted its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The company had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. During the same quarter in the prior year, the company earned $1.52 earnings per share. Apple’s revenue was down 4.3% on a year-over-year basis. As a group, analysts forecast that Apple Inc. will post 6.59 earnings per share for the current year.

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

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. This is an increase from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio (DPR) is 15.55%.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 4,999 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the transaction, the insider now owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Chris Kondo sold 4,999 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the transaction, the insider now owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 59,162 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $172.22, for a total value of $10,188,879.64. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $84,378,155.68. The disclosure for this sale can be found here. Insiders have sold 192,355 shares of company stock valued at $34,771,329 over the last quarter. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on AAPL. Barclays restated an “underweight” rating and set a $164.00 target price on shares of Apple in a report on Tuesday, June 11th. Canaccord Genuity Group upped their target price on Apple from $200.00 to $215.00 and gave the company a “buy” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. upped their price target on Apple from $225.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 18th. Sanford C. Bernstein upped their price target on Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. Finally, Tigress Financial upped their price target on Apple from $240.00 to $245.00 and gave the stock a “strong-buy” rating in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $215.71.

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Apple Profile

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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

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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