5T Wealth LLC Reduces Position in Apple Inc. (NASDAQ:AAPL)

5T Wealth LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 7.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,244 shares of the iPhone maker’s stock after selling 509 shares during the quarter. 5T Wealth LLC’s holdings in Apple were worth $1,387,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Antonelli Financial Advisors LLC bought a new position in shares of Apple during the first quarter valued at approximately $14,617,000. Whalen Wealth Management Inc. raised its holdings in shares of Apple by 8.8% during the first quarter. Whalen Wealth Management Inc. now owns 6,770 shares of the iPhone maker’s stock valued at $1,504,000 after acquiring an additional 550 shares in the last quarter. Palumbo Wealth Management LLC raised its holdings in shares of Apple by 16.3% during the first quarter. Palumbo Wealth Management LLC now owns 52,467 shares of the iPhone maker’s stock valued at $11,655,000 after acquiring an additional 7,341 shares in the last quarter. Friday Financial raised its holdings in shares of Apple by 232.2% during the first quarter. Friday Financial now owns 16,902 shares of the iPhone maker’s stock valued at $3,784,000 after acquiring an additional 11,814 shares in the last quarter. Finally, Jericho Financial LLP raised its holdings in shares of Apple by 2.4% during the first quarter. Jericho Financial LLP now owns 31,297 shares of the iPhone maker’s stock valued at $6,952,000 after acquiring an additional 719 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by insiders.

Apple Trading Down 2.5%

Shares of NASDAQ:AAPL opened at $202.38 on Friday. The stock has a market capitalization of $3.02 trillion, a price-to-earnings ratio of 30.71, a PEG ratio of 2.22 and a beta of 1.17. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The stock’s 50-day simple moving average is $205.37 and its two-hundred day simple moving average is $213.60. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 172.48% and a net margin of 24.30%. The business had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. During the same period last year, the firm posted $1.40 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. Analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its board has authorized a share buyback 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 purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, August 11th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, August 11th. Apple’s payout ratio is presently 15.78%.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price objective on Apple from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday. Loop Capital decreased their price objective on Apple from $230.00 to $215.00 and set a “hold” rating for the company in a report on Wednesday, April 30th. Monness Crespi & Hardt increased their price objective on Apple from $245.00 to $270.00 and gave the stock a “buy” rating in a report on Friday. TD Cowen decreased their price objective on Apple from $290.00 to $275.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Finally, China Renaissance assumed coverage on Apple in a report on Tuesday, April 22nd. They set a “buy” rating and a $241.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $237.25.

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.