ORBA Wealth Advisors L.L.C. Has $15.69 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

ORBA Wealth Advisors L.L.C. decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 0.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,635 shares of the iPhone maker’s stock after selling 239 shares during the period. Apple accounts for approximately 7.9% of ORBA Wealth Advisors L.L.C.’s holdings, making the stock its biggest holding. ORBA Wealth Advisors L.L.C.’s holdings in Apple were worth $15,690,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Drystone LLC purchased a new stake in Apple in the 4th quarter worth about $25,000. Conquis Financial LLC purchased a new stake in Apple in the 4th quarter worth about $63,000. LSV Asset Management purchased a new stake in Apple in the 4th quarter worth about $65,000. Pillar Financial Advisors LLC purchased a new stake in Apple in the 4th quarter worth about $82,000. Finally, Compass Planning Associates Inc purchased a new stake in Apple in the 4th quarter worth about $96,000. Institutional investors own 67.73% of the company’s stock.

Insider Activity

In other news, insider Chris Kondo sold 4,486 shares of the business’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 sale, the insider directly owned 15,533 shares of the company’s stock, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the business’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were 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 in the company, valued at $941,214. This trade represents a 50.01% 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.

Apple Stock Up 0.6%

AAPL stock opened at $211.18 on Friday. The stock has a market capitalization of $3.15 trillion, a P/E ratio of 32.89, a P/E/G ratio of 2.36 and a beta of 1.20. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The firm has a 50-day simple moving average of $204.57 and a 200-day simple moving average of $215.61. The company has a quick ratio of 0.78, a current ratio of 0.82 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. Equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

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%.

Analyst Ratings Changes

A number of equities analysts have recently commented on AAPL shares. TD Cowen reduced their target price on shares of Apple from $290.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research report on Tuesday, June 10th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a research report on Wednesday, May 21st. Rosenblatt Securities downgraded shares of Apple from a “buy” rating to a “neutral” rating and set a $217.00 price objective on the stock. in a research note on Friday, May 2nd. Finally, Scotiabank downgraded shares of Apple to a “market perform” rating in a research note on Friday, May 2nd. Two investment 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 company. According to MarketBeat, the stock presently 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.