Apple Inc. (NASDAQ:AAPL) Shares Sold by Sollinda Capital Management LLC

Sollinda Capital Management LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 13.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,525 shares of the iPhone maker’s stock after selling 2,241 shares during the quarter. Apple makes up approximately 0.9% of Sollinda Capital Management LLC’s investment portfolio, making the stock its 20th largest position. Sollinda Capital Management LLC’s holdings in Apple were worth $3,226,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of AAPL. Life Planning Partners Inc acquired a new position in shares of Apple during the 4th quarter worth approximately $47,000. Conquis Financial LLC acquired a new position in shares of Apple during the 4th quarter worth approximately $63,000. LSV Asset Management acquired a new position in shares of Apple during the 4th quarter worth approximately $65,000. Pillar Financial Advisors LLC acquired a new position in shares of Apple during the 4th quarter worth approximately $82,000. Finally, Compass Planning Associates Inc acquired a new position in shares of Apple during the 4th quarter worth approximately $96,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In related news, SVP Deirdre O’brien sold 34,821 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $232.78 on Friday. The stock has a market cap of $3.45 trillion, a PE ratio of 35.32, a P/E/G ratio of 2.44 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. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The stock has a fifty day simple moving average of $209.13 and a 200-day simple moving average of $213.37.

Apple (NASDAQ:AAPL) last released its quarterly 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. The business had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.40 EPS. Equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple declared that its board has initiated a stock buyback program on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio is currently 15.78%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AAPL shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research note on Friday, July 25th. Raymond James Financial reaffirmed an “outperform” rating and set a $240.00 target price (up from $230.00) on shares of Apple in a research note on Friday, August 1st. Bank of America increased their price objective on Apple from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Citigroup increased their price objective on Apple from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Finally, Loop Capital reduced their price objective on Apple from $230.00 to $215.00 and set a “hold” rating for the company in a research note on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average price target 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.