Retirement Financial Solutions LLC Sells 70 Shares of Apple Inc. (NASDAQ:AAPL)

Retirement Financial Solutions LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,025 shares of the iPhone maker’s stock after selling 70 shares during the period. Apple makes up approximately 0.7% of Retirement Financial Solutions LLC’s portfolio, making the stock its 18th largest position. Retirement Financial Solutions LLC’s holdings in Apple were worth $1,116,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in AAPL. Tallon Kerry Patrick bought a new stake in shares of Apple in the 4th quarter worth about $1,877,000. First National Bank of Hutchinson raised its holdings in shares of Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after buying an additional 6,982 shares during the last quarter. Capital & Planning LLC increased its stake in shares of Apple by 10.7% in the fourth quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker’s stock worth $6,836,000 after acquiring an additional 2,647 shares during the period. Eagle Capital Management LLC grew its position in Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after buying an additional 272 shares during the period. Finally, Brighton Jones LLC grew its position in shares of Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after purchasing an additional 69,207 shares during the period. Institutional investors own 67.73% of the company’s stock.

Apple Stock Down 0.1%

Shares of NASDAQ AAPL opened at $210.02 on Friday. The firm has a market capitalization of $3.14 trillion, a PE ratio of 32.71, a price-to-earnings-growth ratio of 2.35 and a beta of 1.20. 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 1 year low of $169.21 and a 1 year high of $260.10. The firm’s 50-day moving average is $204.32 and its 200-day moving average is $216.12.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS 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 firm had revenue of $95.36 billion for the quarter, compared to the consensus estimate 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. Equities analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.50%. This is an increase 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%.

Insiders Place Their Bets

In other news, 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 approximately $941,214. This represents a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,486 shares of the company’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 value of $933,940.34. Following the completion of the transaction, the insider directly owned 15,533 shares of the company’s stock, valued at $3,233,815.27. This represents a 22.41% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. China Renaissance began coverage on shares of Apple in a report on Tuesday, April 22nd. They set a “buy” rating and a $241.00 price target for the company. DA Davidson increased their price target on shares of Apple from $230.00 to $250.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Raymond James Financial decreased their price target on shares of Apple from $250.00 to $230.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Morgan Stanley reaffirmed an “overweight” rating on shares of Apple in a research report on Friday, June 13th. Finally, TD Cowen reduced their price objective on shares of Apple from $290.00 to $275.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $235.11.

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.