HWG Holdings LP Reduces Stock Holdings in Apple Inc. (NASDAQ:AAPL)

HWG Holdings LP lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 90,611 shares of the iPhone maker’s stock after selling 1,508 shares during the period. Apple accounts for approximately 9.0% of HWG Holdings LP’s holdings, making the stock its 2nd biggest position. HWG Holdings LP’s holdings in Apple were worth $20,127,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AAPL. Tallon Kerry Patrick bought a new position in Apple in the 4th quarter worth about $1,877,000. First National Bank of Hutchinson raised its position in Apple by 24.6% in the 4th 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 raised its position in Apple by 10.7% in the 4th quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker’s stock worth $6,836,000 after buying an additional 2,647 shares during the last quarter. Eagle Capital Management LLC raised its position in Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after buying an additional 272 shares during the last quarter. Finally, Brighton Jones LLC raised its position in Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after buying an additional 69,207 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Trading Down 2.5%

AAPL stock opened at $202.38 on Friday. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. The company 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 business has a 50 day simple moving average of $205.37 and a two-hundred day simple moving average of $213.60.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share 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 during the quarter, compared to the consensus estimate of $88.64 billion. During the same period in the prior year, the company posted $1.40 EPS. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. Research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Monday, August 11th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, August 11th. Apple’s dividend payout ratio is presently 15.78%.

Apple declared that its board has approved a share repurchase plan on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

AAPL has been the subject of a number of recent analyst reports. Bank of America boosted their target price on Apple from $235.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday. Citigroup boosted their target price on Apple from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday. JPMorgan Chase & Co. boosted their target price on Apple from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday. China Renaissance initiated coverage on Apple in a research report on Tuesday, April 22nd. They issued a “buy” rating and a $241.00 target price for the company. Finally, Wedbush reaffirmed an “outperform” rating and set a $270.00 price target on shares of Apple in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $237.25.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,486 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was 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 in the company, valued at $3,233,815.27. This represents a 22.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.06% of the stock is owned by 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.