Apple Inc. (NASDAQ:AAPL) Shares Sold by Bordeaux Wealth Advisors LLC

Bordeaux Wealth Advisors LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 162,983 shares of the iPhone maker’s stock after selling 6,019 shares during the quarter. Apple makes up about 6.7% of Bordeaux Wealth Advisors LLC’s investment portfolio, making the stock its 3rd biggest holding. Bordeaux Wealth Advisors LLC’s holdings in Apple were worth $36,203,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Financial Futures Ltd Liability Co. boosted its holdings in Apple by 2.2% during the first quarter. Financial Futures Ltd Liability Co. now owns 3,137 shares of the iPhone maker’s stock worth $697,000 after purchasing an additional 68 shares during the last quarter. Heirloom Wealth Management raised its position in Apple by 3.6% during the first quarter. Heirloom Wealth Management now owns 45,416 shares of the iPhone maker’s stock worth $10,088,000 after acquiring an additional 1,575 shares in the last quarter. Financial Life Advisors raised its position in Apple by 41.8% during the first quarter. Financial Life Advisors now owns 1,992 shares of the iPhone maker’s stock worth $442,000 after acquiring an additional 587 shares in the last quarter. Tsfg LLC raised its position in Apple by 9.2% during the first quarter. Tsfg LLC now owns 59,976 shares of the iPhone maker’s stock worth $13,323,000 after acquiring an additional 5,043 shares in the last quarter. Finally, Highland Capital Management LLC raised its position in Apple by 1.3% during the first quarter. Highland Capital Management LLC now owns 395,708 shares of the iPhone maker’s stock worth $87,899,000 after acquiring an additional 4,907 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on AAPL. KeyCorp raised shares of Apple from an “underweight” rating to a “sector weight” rating in a research report on Monday, April 14th. Wedbush reaffirmed an “outperform” rating and set a $270.00 price target on shares of Apple in a research report on Thursday, August 7th. DA Davidson reaffirmed a “buy” rating and set a $250.00 price target on shares of Apple in a research report on Friday, August 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research report on Friday, July 25th. Finally, UBS Group upped their price target on shares of Apple from $210.00 to $220.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $237.60.

Apple Trading Down 0.9%

AAPL opened at $227.18 on Tuesday. The company’s 50 day moving average is $207.35 and its 200-day moving average is $213.10. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The company has a market cap of $3.37 trillion, a P/E ratio of 34.47, a PEG ratio of 2.40 and a beta of 1.16.

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

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 11th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Monday, August 11th. Apple’s dividend payout ratio (DPR) is 15.78%.

Apple declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

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.