Sylvest Advisors LLC Sells 1,174 Shares of Apple Inc. (NASDAQ:AAPL)

Sylvest Advisors LLC lessened its position in Apple Inc. (NASDAQ:AAPL) by 6.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,790 shares of the iPhone maker’s stock after selling 1,174 shares during the period. Apple makes up about 2.5% of Sylvest Advisors LLC’s investment portfolio, making the stock its 11th biggest holding. Sylvest Advisors LLC’s holdings in Apple were worth $3,952,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Life Planning Partners Inc bought a new stake in shares of Apple during the fourth quarter worth $47,000. Conquis Financial LLC bought a new stake in shares of Apple during the fourth quarter worth $63,000. LSV Asset Management acquired a new position in Apple during the fourth quarter worth $65,000. Pillar Financial Advisors LLC acquired a new position in Apple during the fourth quarter worth $82,000. Finally, Compass Planning Associates Inc acquired a new position in Apple during the fourth quarter worth $96,000. Institutional investors own 67.73% of the company’s stock.

Apple Stock Up 5.0%

Shares of NASDAQ AAPL opened at $213.12 on Thursday. The company has a market capitalization of $3.16 trillion, a P/E ratio of 32.34, a price-to-earnings-growth ratio of 2.13 and a beta of 1.16. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The company’s 50 day moving average price is $205.84 and its 200-day moving average price is $213.24.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.40 EPS. Equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple declared that its board has initiated 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 buy up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors 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 is Monday, August 11th. Apple’s payout ratio is presently 15.78%.

Insider Activity

In related news, insider Chris Kondo sold 4,486 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider owned 15,533 shares in the company, valued at $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 the SEC website. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AAPL. Barclays increased their target price on shares of Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a report on Friday, August 1st. Citigroup increased their target price on shares of Apple from $240.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Monness Crespi & Hardt increased their price target on shares of Apple from $245.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 1st. TD Cowen cut their price target on shares of Apple from $290.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $240.00 price target (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price 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.