Relyea Zuckerberg Hanson LLC Has $18.91 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Relyea Zuckerberg Hanson LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,127 shares of the iPhone maker’s stock after selling 2,098 shares during the quarter. Apple accounts for 2.5% of Relyea Zuckerberg Hanson LLC’s holdings, making the stock its 8th largest position. Relyea Zuckerberg Hanson LLC’s holdings in Apple were worth $18,909,000 as of its most recent SEC filing.

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

Insider Activity

In other news, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction dated Wednesday, April 23rd. The stock was 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 directly owned 4,569 shares of the company’s stock, valued at approximately $941,214. This trade represents a 50.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Chris Kondo sold 4,486 shares of the business’s stock in a transaction dated 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 sale, the insider directly owned 15,533 shares of the company’s stock, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several research reports. Jefferies Financial Group raised shares of Apple from an “underperform” rating to a “hold” rating and increased their price objective for the company from $170.62 to $188.32 in a research note on Tuesday, July 1st. Rosenblatt Securities downgraded shares of Apple from a “buy” rating to a “neutral” rating and set a $217.00 price target for the company. in a report on Friday, May 2nd. Raymond James Financial cut their price objective on Apple from $250.00 to $230.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a report on Wednesday, May 21st. Finally, Wedbush reissued an “outperform” rating and set a $270.00 price target on shares of Apple in a research note on Wednesday, July 9th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $235.27.

Apple Stock Performance

AAPL stock opened at $209.11 on Wednesday. The stock has a 50-day moving average price of $203.79 and a 200-day moving average price of $216.45. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. 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 firm 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 posted its quarterly earnings data 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 return on equity of 167.24% and a net margin of 24.30%. The firm had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. During the same period last year, the company posted $1.53 EPS. The business’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple announced that its Board of Directors has approved a share 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 shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a $0.26 dividend. The ex-dividend date was Monday, May 12th. This is a positive change from Apple’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.50%. Apple’s dividend payout ratio (DPR) is 16.20%.

About Apple

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.