Crescent Grove Advisors LLC Sells 1,619 Shares of Apple Inc. (NASDAQ:AAPL)

Crescent Grove Advisors LLC reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 2.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 79,048 shares of the iPhone maker’s stock after selling 1,619 shares during the quarter. Apple comprises 1.8% of Crescent Grove Advisors LLC’s investment portfolio, making the stock its 15th largest position. Crescent Grove Advisors LLC’s holdings in Apple were worth $17,559,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in AAPL. Life Planning Partners Inc purchased a new position in shares of Apple in the 4th quarter valued at approximately $47,000. Conquis Financial LLC purchased a new position in shares of Apple in the 4th quarter valued at approximately $63,000. LSV Asset Management purchased a new position in shares of Apple in the 4th quarter valued at approximately $65,000. Pillar Financial Advisors LLC purchased a new position in Apple during the fourth quarter valued at $82,000. Finally, Compass Planning Associates Inc purchased a new position in Apple during the fourth quarter valued at $96,000. 67.73% of the stock is currently owned by institutional investors.

Apple Price Performance

NASDAQ:AAPL opened at $227.18 on Tuesday. 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 capitalization of $3.37 trillion, a P/E ratio of 34.47, a P/E/G ratio of 2.40 and a beta of 1.16. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The business’s 50-day moving average is $207.35 and its 200 day moving average is $213.10.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The company had revenue of $94.04 billion for 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 firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.40 earnings per share. On average, equities research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple announced that its board has approved a share repurchase program on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Apple Announces Dividend

The company 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 $0.26 dividend. 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 currently 15.78%.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of recent research reports. DA Davidson reiterated a “buy” rating and set a $250.00 price objective on shares of Apple in a research note on Friday, August 1st. Monness Crespi & Hardt lifted their price objective on Apple from $245.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Barclays lifted their price objective on Apple from $173.00 to $180.00 and gave the company an “underweight” rating in a research note on Friday, August 1st. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research note on Friday, July 25th. Finally, Evercore ISI lifted their price objective on Apple to $250.00 and gave the company a “buy” rating in a research note on Friday, June 6th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus target price of $237.60.

Apple 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.