Apple Inc. (NASDAQ:AAPL) Shares Sold by Alliance Wealth Advisors LLC

Alliance Wealth Advisors LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 3.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,483 shares of the iPhone maker’s stock after selling 693 shares during the period. Apple makes up 2.2% of Alliance Wealth Advisors LLC’s portfolio, making the stock its 9th biggest position. Alliance Wealth Advisors LLC’s holdings in Apple were worth $3,883,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AAPL. Radnor Capital Management LLC grew its holdings in Apple by 2.3% during the 1st quarter. Radnor Capital Management LLC now owns 73,894 shares of the iPhone maker’s stock valued at $16,414,000 after purchasing an additional 1,663 shares in the last quarter. Impact Capital Partners LLC grew its holdings in Apple by 7.5% during the 1st quarter. Impact Capital Partners LLC now owns 51,620 shares of the iPhone maker’s stock valued at $11,466,000 after purchasing an additional 3,581 shares in the last quarter. Disciplined Investments LLC grew its holdings in Apple by 23.8% during the 1st quarter. Disciplined Investments LLC now owns 8,873 shares of the iPhone maker’s stock valued at $1,971,000 after purchasing an additional 1,707 shares in the last quarter. Tower Wealth Partners Inc. grew its holdings in Apple by 11.0% during the 1st quarter. Tower Wealth Partners Inc. now owns 10,081 shares of the iPhone maker’s stock valued at $2,239,000 after purchasing an additional 995 shares in the last quarter. Finally, Fortress Financial Group LLC grew its holdings in Apple by 0.8% during the 1st quarter. Fortress Financial Group LLC now owns 8,933 shares of the iPhone maker’s stock valued at $1,984,000 after purchasing an additional 68 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity at Apple

In related news, CFO Kevan Parekh sold 4,570 shares of the business’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer owned 4,569 shares of the company’s stock, valued at $941,214. The trade was a 50.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 4,486 shares of the business’s 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 sale, the insider directly owned 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Loop Capital lowered their price target on shares of Apple from $230.00 to $215.00 and set a “hold” rating for the company in a report on Wednesday, April 30th. Barclays set a $173.00 target price on shares of Apple and gave the stock an “underweight” rating in a research report on Tuesday, June 24th. JPMorgan Chase & Co. reduced their price target on shares of Apple from $245.00 to $230.00 and set an “overweight” rating on the stock in a research report on Thursday, June 26th. Tigress Financial lifted their price target on Apple from $295.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Thursday, April 3rd. Finally, KeyCorp upgraded Apple from an “underweight” rating to a “sector weight” rating in a research note on Monday, April 14th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.95.

Apple Stock Performance

AAPL opened at $213.36 on Friday. The business’s 50 day moving average is $203.35 and its 200-day moving average is $218.66. The stock has a market cap of $3.19 trillion, a PE ratio of 33.23, a price-to-earnings-growth ratio of 2.38 and a beta of 1.20. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10.

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

Apple announced that its Board of Directors has approved a stock buyback program on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a dividend of $0.26 per share. This is a boost from Apple’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.49%. Apple’s payout ratio is presently 16.20%.

Apple 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.