Apple Inc. (NASDAQ:AAPL) Shares Sold by Accurate Wealth Management LLC

Accurate Wealth Management LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,708 shares of the iPhone maker’s stock after selling 495 shares during the quarter. Apple makes up approximately 4.2% of Accurate Wealth Management LLC’s holdings, making the stock its 2nd largest position. Accurate Wealth Management LLC’s holdings in Apple were worth $22,370,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Advanced Portfolio Management LLC raised its stake in shares of Apple by 0.3% during the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock worth $3,260,000 after purchasing an additional 47 shares in the last quarter. Family Capital Management Inc. raised its stake in shares of Apple by 0.3% during the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker’s stock worth $4,235,000 after purchasing an additional 48 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in shares of Apple by 0.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker’s stock worth $4,178,000 after purchasing an additional 48 shares in the last quarter. Scarborough Advisors LLC raised its stake in shares of Apple by 0.3% during the 4th quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker’s stock worth $3,992,000 after purchasing an additional 51 shares in the last quarter. Finally, Disciplined Investments LLC raised its stake in shares of Apple by 0.7% during the 4th quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker’s stock worth $1,794,000 after purchasing an additional 51 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Price Performance

Shares of AAPL stock opened at $212.41 on Friday. The stock has a 50 day moving average of $203.27 and a two-hundred day moving average of $217.73. 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 12 month low of $169.21 and a 12 month high of $260.10. The company has a market capitalization of $3.17 trillion, a P/E ratio of 33.09, a P/E/G ratio of 2.36 and a beta of 1.20.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $94.04 billion. During the same quarter last year, the company earned $1.53 EPS. The company’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Increases Dividend

The company also recently disclosed 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 represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. This is an increase from Apple’s previous quarterly dividend of $0.25. Apple’s dividend payout ratio (DPR) is currently 16.20%.

Apple declared that its board has approved a stock buyback program 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 programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AAPL shares. Scotiabank downgraded Apple to a “market perform” rating in a research note on Friday, May 2nd. KeyCorp raised Apple from an “underweight” rating to a “sector weight” rating in a report on Monday, April 14th. The Goldman Sachs Group reissued a “buy” rating on shares of Apple in a report on Wednesday, May 21st. Monness Crespi & Hardt increased their price objective on Apple to $245.00 and gave the company a “buy” rating in a report on Tuesday, June 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Apple in a report on Tuesday, June 10th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $235.27.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,486 shares of the firm’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 transaction of $933,940.34. Following the completion of the transaction, the insider owned 15,533 shares in the company, valued at $3,233,815.27. This trade represents a 22.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the firm’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 value of $941,420.00. Following the transaction, the chief financial officer 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 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.