Eads & Heald Wealth Management Has $3.32 Million Position in Apple Inc. (NASDAQ:AAPL)

Eads & Heald Wealth Management cut its holdings in Apple Inc. (NASDAQ:AAPL) by 2.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,930 shares of the iPhone maker’s stock after selling 385 shares during the period. Apple makes up 1.7% of Eads & Heald Wealth Management’s investment portfolio, making the stock its 4th biggest holding. Eads & Heald Wealth Management’s holdings in Apple were worth $3,316,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Conquis Financial LLC acquired a new position in shares of Apple during the fourth quarter valued at about $63,000. LSV Asset Management acquired a new position in shares of Apple during the fourth quarter valued at about $65,000. Pillar Financial Advisors LLC acquired a new position in shares of Apple during the fourth quarter valued at about $82,000. Compass Planning Associates Inc acquired a new position in shares of Apple during the fourth quarter valued at about $96,000. Finally, Sellwood Investment Partners LLC acquired a new position in shares of Apple during the fourth quarter valued at about $147,000. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Performance

NASDAQ AAPL opened at $232.78 on Friday. The firm has a market cap of $3.45 trillion, a price-to-earnings ratio of 35.32, a PEG ratio of 2.44 and a beta of 1.16. The company has a 50 day moving average of $209.13 and a 200-day moving average of $213.37. 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 1-year low of $169.21 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share 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%. Apple’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.40 earnings per share. On average, equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued a $0.26 dividend. The ex-dividend date of this dividend 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 (DPR) is currently 15.78%.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. UBS Group upped their price objective on shares of Apple from $210.00 to $220.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Scotiabank lowered shares of Apple to a “market perform” rating in a research report on Friday, May 2nd. BMO Capital Markets reaffirmed a “buy” rating on shares of Apple in a research report on Wednesday. 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 report on Friday, August 1st. Finally, Wedbush reissued an “outperform” rating and issued a $270.00 price target on shares of Apple in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.60.

Insider Buying and Selling at Apple

In related news, SVP Deirdre O’brien sold 34,821 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.

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.