Colony Family Offices LLC Reduces Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Colony Family Offices LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 9.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,448 shares of the iPhone maker’s stock after selling 1,350 shares during the quarter. Apple accounts for approximately 0.9% of Colony Family Offices LLC’s holdings, making the stock its 19th largest holding. Colony Family Offices LLC’s holdings in Apple were worth $2,987,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. River Street Advisors LLC increased its holdings in Apple by 1.1% during the 1st quarter. River Street Advisors LLC now owns 31,237 shares of the iPhone maker’s stock worth $6,939,000 after purchasing an additional 344 shares during the last quarter. Walter & Keenan Wealth Management LLC IN ADV increased its holdings in Apple by 0.6% during the 1st quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 90,441 shares of the iPhone maker’s stock worth $20,090,000 after purchasing an additional 551 shares during the last quarter. DecisionMap Wealth Management LLC increased its holdings in Apple by 2.5% during the 1st quarter. DecisionMap Wealth Management LLC now owns 15,299 shares of the iPhone maker’s stock worth $3,398,000 after purchasing an additional 377 shares during the last quarter. Trifecta Capital Advisors LLC increased its holdings in Apple by 1.9% during the 1st quarter. Trifecta Capital Advisors LLC now owns 113,446 shares of the iPhone maker’s stock worth $25,200,000 after purchasing an additional 2,130 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in Apple by 2.0% during the 1st quarter. Blue Trust Inc. now owns 169,861 shares of the iPhone maker’s stock worth $37,731,000 after purchasing an additional 3,306 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AAPL shares. Scotiabank downgraded Apple to a “market perform” rating in a report on Friday, May 2nd. Bank of America restated a “buy” rating and set a $235.00 price objective on shares of Apple in a report on Tuesday, June 10th. Barclays set a $173.00 price target on Apple and gave the company an “underweight” rating in a report on Tuesday, June 24th. Monness Crespi & Hardt boosted their price target on Apple to $245.00 and gave the company a “buy” rating in a report on Tuesday, June 10th. Finally, China Renaissance assumed coverage on Apple in a report on Tuesday, April 22nd. They issued a “buy” rating and a $241.00 price target for the company. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $234.94.

Apple Trading Up 0.1%

Shares of Apple stock opened at $213.88 on Monday. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. The firm has a market cap of $3.19 trillion, a price-to-earnings ratio of 33.31, a price-to-earnings-growth ratio of 2.39 and a beta of 1.20. The business has a fifty day simple moving average of $204.77 and a 200-day simple moving average of $214.38. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.03. The company had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. Apple’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.53 earnings per share. On average, equities analysts forecast 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. The ex-dividend date of this dividend was Monday, May 12th. This is a positive change 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%. Apple’s payout ratio is 16.20%.

Apple announced that its Board of Directors has initiated a share repurchase program 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 shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, insider Chris Kondo sold 4,486 shares of the business’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is owned by company insiders.

Apple Company Profile

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.