Dodds Wealth LLC Sells 93 Shares of Apple Inc. (NASDAQ:AAPL)

Dodds Wealth LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 0.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,737 shares of the iPhone maker’s stock after selling 93 shares during the quarter. Apple accounts for about 1.0% of Dodds Wealth LLC’s investment portfolio, making the stock its 16th largest holding. Dodds Wealth LLC’s holdings in Apple were worth $3,051,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in AAPL. Advanced Portfolio Management LLC lifted its stake in Apple by 0.3% in the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock worth $3,260,000 after acquiring an additional 47 shares during the period. Family Capital Management Inc. lifted its stake in Apple by 0.3% in the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker’s stock worth $4,235,000 after acquiring an additional 48 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in Apple by 0.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker’s stock worth $4,178,000 after acquiring an additional 48 shares during the period. Scarborough Advisors LLC lifted its stake in Apple by 0.3% in the fourth quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker’s stock worth $3,992,000 after acquiring an additional 51 shares during the period. Finally, Disciplined Investments LLC lifted its stake in Apple by 0.7% in the fourth quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker’s stock worth $1,794,000 after acquiring an additional 51 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Chris Kondo sold 4,486 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider owned 15,533 shares of the company’s stock, valued at $3,233,815.27. This trade represents a 22.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction of $941,420.00. Following the sale, the chief financial officer directly owned 4,569 shares in the company, valued at $941,214. The trade was a 50.01% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

AAPL has been the subject of a number of research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research note on Tuesday, June 10th. TD Cowen decreased their price target on shares of Apple from $290.00 to $275.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Tigress Financial increased their price target on shares of Apple from $295.00 to $300.00 and gave the company a “strong-buy” rating in a research report on Thursday, April 3rd. Barclays set a $173.00 price target on shares of Apple and gave the company an “underweight” rating in a research report on Tuesday, June 24th. Finally, KeyCorp raised shares of Apple from an “underweight” rating to a “sector weight” rating in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.27.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $209.11 on Wednesday. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company’s 50 day moving average is $203.79 and its 200 day moving average is $216.45. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The company has a market cap of $3.12 trillion, a PE ratio of 32.57, a price-to-earnings-growth ratio of 2.33 and a beta of 1.20.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $94.04 billion. During the same quarter in the prior year, the company earned $1.53 EPS. Apple’s quarterly revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Apple Increases Dividend

The company also recently disclosed 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. This is a boost from Apple’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.50%. Apple’s dividend payout ratio (DPR) 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.