Inspirion Wealth Advisors LLC Sells 532 Shares of Apple Inc. (NASDAQ:AAPL)

Inspirion Wealth Advisors LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 0.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,736 shares of the iPhone maker’s stock after selling 532 shares during the quarter. Apple makes up approximately 1.8% of Inspirion Wealth Advisors LLC’s holdings, making the stock its 16th biggest position. Inspirion Wealth Advisors LLC’s holdings in Apple were worth $12,603,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Drystone LLC bought a new position in shares of Apple during the 4th quarter valued at approximately $25,000. Life Planning Partners Inc bought a new position in shares of Apple during the 4th quarter valued at approximately $47,000. Conquis Financial LLC bought a new position in shares of Apple during the 4th quarter valued at approximately $63,000. LSV Asset Management bought a new position in shares of Apple during the 4th quarter valued at approximately $65,000. Finally, Pillar Financial Advisors LLC bought a new position in shares of Apple during the 4th quarter valued at approximately $82,000. 67.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on AAPL shares. Morgan Stanley reiterated an “overweight” rating on shares of Apple in a research report on Friday, June 13th. Rosenblatt Securities downgraded Apple from a “buy” rating to a “neutral” rating and set a $217.00 target price for the company. in a research report on Friday, May 2nd. Barclays set a $173.00 target price on Apple and gave the company an “underweight” rating in a research report on Tuesday. Bank of America reiterated a “buy” rating and set a $235.00 target price on shares of Apple in a research report on Tuesday, June 10th. Finally, JPMorgan Chase & Co. decreased their price target on Apple from $245.00 to $230.00 and set an “overweight” rating on the stock in a report on Thursday. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $234.39.

Apple Stock Performance

AAPL stock opened at $201.08 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. The business’s fifty day simple moving average is $202.61 and its two-hundred day simple moving average is $220.03. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The firm has a market cap of $3.00 trillion, a price-to-earnings ratio of 31.32, a PEG ratio of 2.25 and a beta of 1.22.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.03. The business had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.53 earnings per share. Analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. This is a positive change from Apple’s previous quarterly dividend of $0.25. Apple’s dividend payout ratio (DPR) is currently 16.20%.

Apple declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, CEO Timothy D. Cook sold 108,136 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the transaction, the chief executive officer now owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This trade represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Jeffrey E. Williams sold 35,493 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the transaction, the chief operating officer now owns 390,059 shares in the company, valued at approximately $87,377,116.59. This represents a 8.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,507 shares of company stock worth $42,694,080. Company insiders own 0.06% of the company’s stock.

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.