High Probability Advisors LLC Sells 744 Shares of Apple Inc. (NASDAQ:AAPL)

High Probability Advisors LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 15.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,158 shares of the iPhone maker’s stock after selling 744 shares during the period. High Probability Advisors LLC’s holdings in Apple were worth $924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Advanced Portfolio Management LLC boosted 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 valued at $3,260,000 after acquiring an additional 47 shares in the last quarter. Family Capital Management Inc. raised its holdings in shares of 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 buying an additional 48 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in shares of 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 buying an additional 48 shares during the last quarter. Scarborough Advisors LLC raised its holdings in shares of 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 buying an additional 51 shares during the last quarter. Finally, Disciplined Investments LLC raised its holdings in shares of 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 buying an additional 51 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

AAPL opened at $210.16 on Thursday. The firm has a market capitalization of $3.14 trillion, a PE ratio of 32.74, a PEG ratio of 2.34 and a beta of 1.20. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The firm’s 50-day moving average price is $204.07 and its 200 day moving average price is $216.41. 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 (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. Apple’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.53 earnings per share. As a group, sell-side analysts expect 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 issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.49%. This is a positive change from Apple’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple’s payout ratio is presently 16.20%.

Apple announced that its Board of Directors has approved a share buyback plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding 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 generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AAPL shares. China Renaissance initiated coverage on shares of Apple in a report on Tuesday, April 22nd. They issued a “buy” rating and a $241.00 price target for the company. Scotiabank cut shares of Apple to a “market perform” rating in a report on Friday, May 2nd. JPMorgan Chase & Co. cut their price objective on shares of Apple from $245.00 to $230.00 and set an “overweight” rating for the company in a report on Thursday, June 26th. DA Davidson lifted their price objective on shares of Apple from $230.00 to $250.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a report on Tuesday, June 10th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.27.

Insider Activity

In other Apple news, CFO Kevan Parekh sold 4,570 shares of the business’s 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 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. The trade was a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

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.