First Affirmative Financial Network Has $5.83 Million Stake in Apple Inc. (NASDAQ:AAPL)

First Affirmative Financial Network lessened its stake in Apple Inc. (NASDAQ:AAPL) by 3.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,247 shares of the iPhone maker’s stock after selling 1,002 shares during the period. Apple comprises 3.6% of First Affirmative Financial Network’s portfolio, making the stock its 3rd biggest holding. First Affirmative Financial Network’s holdings in Apple were worth $5,830,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Burkett Financial Services LLC raised its stake in shares of Apple by 0.6% in the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock valued at $3,199,000 after acquiring an additional 93 shares during the last quarter. OneAscent Wealth Management LLC raised its stake in shares of Apple by 4.6% in the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock valued at $2,337,000 after acquiring an additional 409 shares during the last quarter. TruWealth Advisors LLC raised its stake in shares of Apple by 2.8% in the first quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker’s stock valued at $42,045,000 after acquiring an additional 5,120 shares during the last quarter. Allstate Corp raised its stake in shares of Apple by 3,368.2% in the fourth quarter. Allstate Corp now owns 451,489 shares of the iPhone maker’s stock valued at $113,062,000 after acquiring an additional 438,471 shares during the last quarter. Finally, Vinva Investment Management Ltd raised its stake in shares of Apple by 12.4% in the fourth quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker’s stock valued at $192,700,000 after acquiring an additional 83,997 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AAPL shares. UBS Group set a $210.00 target price on shares of Apple and gave the company a “neutral” rating in a research note on Thursday. KeyCorp upgraded shares of Apple from an “underweight” rating to a “sector weight” rating in a research note on Monday, April 14th. DA Davidson lifted their target price on shares of Apple from $230.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Morgan Stanley restated an “overweight” rating on shares of Apple in a research report on Friday, June 13th. Finally, Scotiabank cut shares of Apple to a “market perform” rating in a research report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $234.95.

Apple Price Performance

Shares of AAPL stock opened at $213.36 on Friday. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The firm has a market capitalization of $3.19 trillion, a price-to-earnings ratio of 33.23, a price-to-earnings-growth ratio of 2.38 and a beta of 1.20. 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 firm has a fifty day moving average of $203.35 and a 200-day moving average of $218.66.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The company had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. During the same quarter in the previous year, the business earned $1.53 EPS. The firm’s revenue was up 5.1% on a year-over-year basis. On average, equities research analysts forecast 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 issued a $0.26 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. Apple’s payout ratio is 16.20%.

Apple declared that its Board of Directors has authorized a share buyback program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 4,486 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the transaction, the insider owned 15,533 shares of the company’s stock, valued at $3,233,815.27. The trade was a 22.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the business’s stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the transaction, the chief financial officer directly owned 4,569 shares of the company’s stock, valued at $941,214. This trade represents a 50.01% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

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.