Strategent Financial LLC Has $443,000 Position in Apple Inc. (NASDAQ:AAPL)

Strategent Financial LLC increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 13.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,995 shares of the iPhone maker’s stock after acquiring an additional 233 shares during the quarter. Apple comprises 0.4% of Strategent Financial LLC’s portfolio, making the stock its 23rd biggest holding. Strategent Financial LLC’s holdings in Apple were worth $443,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Drystone LLC acquired a new position in Apple in the 4th quarter valued at $25,000. Life Planning Partners Inc acquired a new position in Apple in the 4th quarter valued at $47,000. Conquis Financial LLC acquired a new position in Apple in the 4th quarter valued at $63,000. LSV Asset Management acquired a new position in Apple in the 4th quarter valued at $65,000. Finally, Pillar Financial Advisors LLC acquired a new position in Apple in the 4th quarter valued at $82,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

Shares of AAPL stock opened at $213.36 on Monday. The company has a quick ratio of 0.78, a current ratio of 0.82 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. The company has a market cap of $3.19 trillion, a P/E ratio of 33.23, a P/E/G ratio of 2.38 and a beta of 1.20. The business has a fifty day simple moving average of $203.35 and a 200 day simple moving average of $218.44.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the company earned $1.53 earnings per share. On average, sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a $0.26 dividend. The ex-dividend date was Monday, May 12th. This is an increase from Apple’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.49%. Apple’s dividend payout ratio (DPR) is currently 16.20%.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on AAPL. Citigroup reaffirmed a “buy” rating on shares of Apple in a report on Tuesday, June 10th. Loop Capital decreased their price objective on Apple from $230.00 to $215.00 and set a “hold” rating on the stock in a report on Wednesday, April 30th. Monness Crespi & Hardt upped their price objective on Apple to $245.00 and gave the company a “buy” rating in a report on Tuesday, June 10th. Tigress Financial upped their price objective on Apple from $295.00 to $300.00 and gave the company a “strong-buy” rating in a report on Thursday, April 3rd. Finally, TD Cowen decreased their price objective on Apple from $290.00 to $275.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $234.95.

Insider Activity

In other Apple news, insider Chris Kondo sold 4,486 shares of the stock in a transaction dated 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 directly owned 15,533 shares in the company, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction dated 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 transaction, the chief financial officer owned 4,569 shares of the company’s stock, valued at $941,214. This represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company 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.