Capitol Family Office Inc. Sells 1,058 Shares of Apple Inc. (NASDAQ:AAPL)

Capitol Family Office Inc. lessened its stake in Apple Inc. (NASDAQ:AAPL) by 8.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,154 shares of the iPhone maker’s stock after selling 1,058 shares during the quarter. Apple accounts for about 3.8% of Capitol Family Office Inc.’s holdings, making the stock its 4th biggest position. Capitol Family Office Inc.’s holdings in Apple were worth $2,700,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Life Planning Partners Inc acquired a new position in shares of Apple during the 4th quarter worth $47,000. Conquis Financial LLC acquired a new position in shares of Apple during the 4th quarter worth $63,000. LSV Asset Management acquired a new position in shares of Apple during the 4th quarter worth $65,000. Pillar Financial Advisors LLC acquired a new position in shares of Apple during the 4th quarter worth $82,000. Finally, Compass Planning Associates Inc acquired a new position in shares of Apple during the 4th quarter worth $96,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AAPL shares. DA Davidson restated a “buy” rating and set a $250.00 price target on shares of Apple in a research note on Friday, August 1st. Barclays increased their price target on shares of Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research note on Friday, August 1st. Citigroup increased their price target on shares of Apple from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Morgan Stanley increased 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. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $217.00 price objective on shares of Apple in a report on Tuesday, July 29th. Two research 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 stock. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average target price of $237.60.

Apple Trading Down 0.9%

Shares of NASDAQ AAPL opened at $227.18 on Tuesday. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a market cap of $3.37 trillion, a PE ratio of 34.47, a P/E/G ratio of 2.40 and a beta of 1.16. 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 50-day moving average of $207.35 and a two-hundred day moving average of $213.10.

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

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

Apple Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. Apple’s payout ratio is currently 15.78%.

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.