EnRich Financial Partners LLC Decreases Position in Apple Inc. (NASDAQ:AAPL)

EnRich Financial Partners LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 1.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,248 shares of the iPhone maker’s stock after selling 107 shares during the quarter. Apple accounts for 0.7% of EnRich Financial Partners LLC’s investment portfolio, making the stock its 21st biggest position. EnRich Financial Partners LLC’s holdings in Apple were worth $2,054,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Burkett Financial Services LLC grew its holdings in Apple by 0.6% in the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock worth $3,199,000 after acquiring an additional 93 shares during the last quarter. Avid Wealth Partners LLC boosted its stake in shares of Apple by 28.3% during the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock valued at $935,000 after purchasing an additional 930 shares in the last quarter. OneAscent Wealth Management LLC boosted its stake in shares of Apple by 4.6% during the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock valued at $2,337,000 after purchasing an additional 409 shares in the last quarter. TruWealth Advisors LLC boosted its stake in shares of Apple by 2.8% during the 1st quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker’s stock valued at $42,045,000 after purchasing an additional 5,120 shares in the last quarter. Finally, Allstate Corp boosted its stake in shares of Apple by 3,368.2% during the 4th quarter. Allstate Corp now owns 451,489 shares of the iPhone maker’s stock valued at $113,062,000 after purchasing an additional 438,471 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Trading Down 0.5%

Shares of NASDAQ AAPL opened at $231.59 on Friday. The firm’s 50 day moving average price is $209.69 and its 200-day moving average price is $213.14. The company has a market cap of $3.44 trillion, a PE ratio of 35.14, a P/E/G ratio of 2.42 and a beta of 1.16. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.40 earnings per share. On average, equities research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple declared that its board has authorized a stock repurchase plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

Apple Announces Dividend

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

Insider Activity

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

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of research reports. TD Cowen cut their target price on shares of Apple from $290.00 to $275.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research note on Friday, July 25th. Jefferies Financial Group raised shares of Apple from an “underperform” rating to a “hold” rating in a research note on Friday, July 18th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $217.00 target price on shares of Apple in a research note on Tuesday, July 29th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Apple from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $237.60.

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.