Independent Solutions Wealth Management LLC Has $13.99 Million Stake in Apple Inc. (NASDAQ:AAPL)

Independent Solutions Wealth Management LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 62,997 shares of the iPhone maker’s stock after selling 1,352 shares during the period. Apple comprises about 3.1% of Independent Solutions Wealth Management LLC’s investment portfolio, making the stock its 4th biggest position. Independent Solutions Wealth Management LLC’s holdings in Apple were worth $13,994,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. waypoint wealth counsel raised its stake in shares of Apple by 1.3% in the first quarter. waypoint wealth counsel now owns 31,282 shares of the iPhone maker’s stock worth $6,949,000 after acquiring an additional 405 shares during the last quarter. Berkshire Money Management Inc. raised its stake in shares of Apple by 0.6% in the first quarter. Berkshire Money Management Inc. now owns 23,268 shares of the iPhone maker’s stock worth $5,169,000 after acquiring an additional 135 shares during the last quarter. Mission Hills Financial Advisory LLC raised its stake in shares of Apple by 1.3% in the first quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker’s stock worth $892,000 after acquiring an additional 53 shares during the last quarter. Balance Wealth LLC bought a new position in shares of Apple in the first quarter worth about $1,329,000. Finally, RAM Investment Partners LLC raised its stake in shares of Apple by 2.3% in the first quarter. RAM Investment Partners LLC now owns 16,810 shares of the iPhone maker’s stock worth $3,734,000 after acquiring an additional 380 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Price Performance

Shares of NASDAQ AAPL opened at $213.12 on Thursday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The business has a 50-day moving average of $205.84 and a 200-day moving average of $213.24. The stock has a market capitalization of $3.16 trillion, a price-to-earnings ratio of 32.34, a PEG ratio of 2.13 and a beta of 1.16. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.

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, beating analysts’ consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company earned $1.40 earnings per share. As a group, sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple declared that its board has approved a share buyback program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Apple Announces Dividend

The company 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 $0.26 dividend. 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 dividend payout ratio (DPR) is 15.78%.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,486 shares of the stock in a transaction 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 sale, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AAPL shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research note on Friday, July 25th. DA Davidson reissued a “buy” rating and set a $250.00 price target on shares of Apple in a research note on Friday, August 1st. Loop Capital dropped their price target on shares of Apple from $230.00 to $215.00 and set a “hold” rating for the company in a research note on Wednesday, April 30th. Bank of America boosted their price target on shares of Apple from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Finally, Morgan Stanley boosted their price target on shares of Apple from $235.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Two 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $237.25.

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.