Apple Inc. (NASDAQ:AAPL) Shares Sold by Von Berge Wealth Management Group LLC

Von Berge Wealth Management Group LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 22.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,763 shares of the iPhone maker’s stock after selling 3,061 shares during the quarter. Apple comprises about 1.4% of Von Berge Wealth Management Group LLC’s investment portfolio, making the stock its 17th largest holding. Von Berge Wealth Management Group LLC’s holdings in Apple were worth $2,243,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tallon Kerry Patrick acquired a new stake in Apple in the 4th quarter valued at about $1,877,000. First National Bank of Hutchinson increased its holdings in Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after buying an additional 6,982 shares during the last quarter. Capital & Planning LLC boosted its position in Apple by 10.7% during the fourth quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker’s stock worth $6,836,000 after purchasing an additional 2,647 shares during the period. Eagle Capital Management LLC boosted its position in shares of Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after acquiring an additional 272 shares during the period. Finally, Brighton Jones LLC boosted its position in shares of Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after acquiring an additional 69,207 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Transactions at Apple

In related news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction on 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 completion of the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Down 0.5%

NASDAQ AAPL opened at $231.59 on Friday. The business has a 50 day simple moving average of $209.69 and a 200 day simple moving average of $213.14. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The stock has a market capitalization of $3.44 trillion, a P/E ratio of 35.14, a P/E/G ratio of 2.42 and a beta of 1.16. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last posted its 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 company had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the company earned $1.40 earnings per share. Research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple announced that its board 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 generally an indication that the company’s management believes its stock is undervalued.

Apple Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have issued reports on AAPL shares. Citigroup increased their price objective on Apple from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Wedbush restated an “outperform” rating and issued a $270.00 target price on shares of Apple in a research note on Thursday, August 7th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $217.00 price target on shares of Apple in a research report on Tuesday, July 29th. TD Cowen reduced their price target on Apple from $290.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Finally, BMO Capital Markets reiterated a “buy” rating on shares of Apple in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.