Apple Inc. (NASDAQ:AAPL) is Robinson Smith Wealth Advisors LLC’s 10th Largest Position

Robinson Smith Wealth Advisors LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 23.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,914 shares of the iPhone maker’s stock after selling 3,557 shares during the period. Apple comprises 2.5% of Robinson Smith Wealth Advisors LLC’s investment portfolio, making the stock its 10th largest position. Robinson Smith Wealth Advisors LLC’s holdings in Apple were worth $2,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of AAPL. Signature Wealth Management Group raised its position in shares of Apple by 2.5% in the 4th quarter. Signature Wealth Management Group now owns 9,315 shares of the iPhone maker’s stock worth $2,333,000 after acquiring an additional 229 shares in the last quarter. First National Advisers LLC grew its stake in Apple by 1.8% in the fourth quarter. First National Advisers LLC now owns 169,016 shares of the iPhone maker’s stock worth $42,325,000 after purchasing an additional 2,993 shares during the period. WealthTrust Asset Management LLC grew its stake in Apple by 6.1% in the fourth quarter. WealthTrust Asset Management LLC now owns 15,063 shares of the iPhone maker’s stock worth $3,772,000 after purchasing an additional 867 shares during the period. GWN Securities Inc. bought a new position in Apple in the fourth quarter worth $31,598,000. Finally, Altus Wealth Group LLC lifted its position in Apple by 0.3% during the fourth quarter. Altus Wealth Group LLC now owns 31,636 shares of the iPhone maker’s stock valued at $7,922,000 after buying an additional 89 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AAPL has been the topic of several recent research reports. Evercore ISI upped their price target on Apple from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 18th. Rosenblatt Securities cut Apple from a “buy” rating to a “neutral” rating and set a $217.00 target price on the stock. in a research note on Friday, May 2nd. Morgan Stanley restated an “overweight” rating on shares of Apple in a report on Monday, May 12th. Oppenheimer cut shares of Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Finally, Redburn Partners set a $230.00 price objective on shares of Apple in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $235.80.

Insider Activity at Apple

In other news, CFO Kevan Parekh sold 4,570 shares of the business’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the sale, the chief financial officer now directly owns 4,569 shares in the company, valued at approximately $941,214. The trade was a 50.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the transaction, the insider now directly owns 15,533 shares in the company, valued at $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

Shares of AAPL opened at $195.27 on Tuesday. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a market cap of $2.92 trillion, a PE ratio of 31.00, a P/E/G ratio of 2.44 and a beta of 1.27. The stock has a 50-day moving average of $204.64 and a 200-day moving average of $225.71. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The business’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.53 EPS. On average, equities research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a dividend of $0.26 per share. This is a boost from Apple’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Monday, May 12th. Apple’s dividend payout ratio is presently 16.20%.

Apple declared that its Board of Directors has initiated a share buyback plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Apple Company Profile

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.