Apple Inc. (NASDAQ:AAPL) Holdings Cut by Enzi Wealth

Enzi Wealth lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,931 shares of the iPhone maker’s stock after selling 519 shares during the period. Apple accounts for about 1.3% of Enzi Wealth’s investment portfolio, making the stock its 17th biggest holding. Enzi Wealth’s holdings in Apple were worth $3,111,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AAPL. Advanced Portfolio Management LLC raised its stake in shares of Apple by 0.3% in the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock valued at $3,260,000 after acquiring an additional 47 shares during the period. Family Capital Management Inc. lifted its holdings in shares of Apple by 0.3% in the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker’s stock worth $4,235,000 after buying an additional 48 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of Apple by 0.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker’s stock worth $4,178,000 after buying an additional 48 shares during the period. Salus Financial Advisors LLC grew its holdings in Apple by 3.9% during the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock worth $291,000 after acquiring an additional 49 shares in the last quarter. Finally, Scarborough Advisors LLC grew its holdings in Apple by 0.3% during the 4th quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker’s stock worth $3,992,000 after acquiring an additional 51 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Trading Down 0.5%

Shares of AAPL stock opened at $231.59 on Friday. The company’s 50-day moving average price is $209.69 and its 200-day moving average price is $213.33. 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 stock has a market cap of $3.44 trillion, a price-to-earnings ratio of 35.14, a PEG ratio of 2.44 and a beta of 1.16. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10.

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 the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion for 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 was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.40 EPS. As a group, equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple declared that its board has approved a share repurchase 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 purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were given a dividend of $0.26 per share. 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 presently 15.78%.

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the topic of several recent research reports. Scotiabank cut shares of Apple to a “market perform” rating in a report on Friday, May 2nd. BMO Capital Markets reiterated a “buy” rating on shares of Apple in a report on Wednesday. TD Cowen lowered their price target on shares of Apple from $290.00 to $275.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Evercore ISI restated an “outperform” rating and issued a $250.00 price target on shares of Apple in a report on Wednesday. Finally, UBS Group raised their price target on shares of Apple from $210.00 to $220.00 and gave the company a “neutral” rating in a report on Friday, August 1st. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently 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.