Good Life Advisors LLC Sells 15,301 Shares of Apple Inc. (NASDAQ:AAPL)

Good Life Advisors LLC cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 8.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 161,437 shares of the iPhone maker’s stock after selling 15,301 shares during the quarter. Apple accounts for 2.5% of Good Life Advisors LLC’s portfolio, making the stock its 7th biggest holding. Good Life Advisors LLC’s holdings in Apple were worth $35,860,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in AAPL. Norges Bank acquired a new position in shares of Apple in the 4th quarter worth approximately $46,868,648,000. GAMMA Investing LLC boosted its holdings in shares of Apple by 25,934.1% in the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock worth $133,425,490,000 after acquiring an additional 59,835,676 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Apple by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker’s stock worth $349,532,608,000 after acquiring an additional 49,168,843 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Apple by 23,555.4% in the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker’s stock worth $5,272,653,000 after acquiring an additional 20,966,232 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after acquiring an additional 20,079,472 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Trading Up 0.6%

AAPL opened at $211.18 on Friday. 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 company has a market cap of $3.15 trillion, a P/E ratio of 32.89, a price-to-earnings-growth ratio of 2.36 and a beta of 1.20. The company has a fifty day moving average price of $204.57 and a two-hundred day moving average price of $215.61.

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, beating 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 during the quarter, compared to the consensus estimate of $94.04 billion. During the same period in the previous year, the firm posted $1.53 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. Analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a dividend of $0.26 per share. This is an increase from Apple’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, May 12th. Apple’s dividend payout ratio is currently 16.20%.

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 shares. This buyback authorization allows the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts recently weighed in on AAPL shares. Monness Crespi & Hardt boosted their price objective on shares of Apple to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, June 10th. DA Davidson boosted their price objective on shares of Apple from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Loop Capital dropped their price objective on shares of Apple from $230.00 to $215.00 and set a “hold” rating for the company in a research report on Wednesday, April 30th. JPMorgan Chase & Co. boosted their price objective on shares of Apple from $230.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Jefferies Financial Group upgraded shares of Apple from an “underperform” rating to a “hold” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.11.

Insider Buying and Selling

In other news, insider Chris Kondo sold 4,486 shares of the firm’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 approximately $3,233,815.27. This trade represents a 22.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the firm’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the sale, the chief financial officer directly 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 disclosure for this sale can be found here. Corporate 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.