Apple Inc. $AAPL Shares Sold by Alterna Wealth Management Inc.

Alterna Wealth Management Inc. cut its position in Apple Inc. (NASDAQ:AAPL) by 1.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,187 shares of the iPhone maker’s stock after selling 300 shares during the quarter. Apple accounts for 3.2% of Alterna Wealth Management Inc.’s holdings, making the stock its 8th largest holding. Alterna Wealth Management Inc.’s holdings in Apple were worth $4,262,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Apple by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker’s stock worth $349,532,608,000 after purchasing an additional 49,168,843 shares in the last quarter. Geode Capital Management LLC grew its stake in Apple by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker’s stock worth $84,999,145,000 after purchasing an additional 6,307,413 shares in the last quarter. Norges Bank acquired a new position in Apple during the 4th quarter worth $46,868,648,000. Northern Trust Corp grew its stake in Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Apple by 14.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock worth $26,220,566,000 after purchasing an additional 13,137,968 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

Shares of Apple stock opened at $231.59 on Monday. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The stock has a market capitalization of $3.44 trillion, a P/E ratio of 35.14, a PEG ratio of 2.42 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. The business’s fifty day moving average price is $209.69 and its 200 day moving average price is $212.97.

Apple (NASDAQ:AAPL) last issued 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. Apple had a return on equity of 170.91% and a net margin of 24.30%. The firm had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. During the same quarter last year, the firm earned $1.40 earnings per share. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

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

Apple Announces Dividend

The company also recently announced 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 was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is presently 15.78%.

Insiders Place Their Bets

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 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 trade represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. China Renaissance assumed coverage on Apple in a research note on Tuesday, April 22nd. They set a “buy” rating and a $241.00 target price for the company. TD Cowen decreased their price target on Apple from $290.00 to $275.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Jefferies Financial Group raised Apple from an “underperform” rating to a “hold” rating in a report on Friday, July 18th. Citigroup lifted their price target on Apple from $240.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Finally, Scotiabank downgraded Apple to a “market perform” rating in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.