Apple Inc. $AAPL is Weaver Consulting Group’s 7th Largest Position

Weaver Consulting Group trimmed its position in Apple Inc. (NASDAQ:AAPL) by 0.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,825 shares of the iPhone maker’s stock after selling 329 shares during the quarter. Apple accounts for 2.4% of Weaver Consulting Group’s holdings, making the stock its 7th largest holding. Weaver Consulting Group’s holdings in Apple were worth $7,958,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Arlington Trust Co LLC lifted its stake in shares of Apple by 1.0% during the 1st quarter. Arlington Trust Co LLC now owns 66,701 shares of the iPhone maker’s stock worth $14,816,000 after purchasing an additional 657 shares during the last quarter. Vishria Bird Financial Group LLC lifted its stake in shares of Apple by 0.3% during the 1st quarter. Vishria Bird Financial Group LLC now owns 105,376 shares of the iPhone maker’s stock worth $23,407,000 after purchasing an additional 300 shares during the last quarter. Alley Investment Management Company LLC lifted its stake in shares of Apple by 0.4% during the 1st quarter. Alley Investment Management Company LLC now owns 135,005 shares of the iPhone maker’s stock worth $29,989,000 after purchasing an additional 544 shares during the last quarter. Instrumental Wealth LLC lifted its stake in shares of Apple by 11.8% during the 1st quarter. Instrumental Wealth LLC now owns 8,411 shares of the iPhone maker’s stock worth $1,760,000 after purchasing an additional 886 shares during the last quarter. Finally, Horizon Financial Services LLC lifted its stake in shares of Apple by 20,644.1% during the 1st quarter. Horizon Financial Services LLC now owns 747,203 shares of the iPhone maker’s stock worth $165,976,000 after purchasing an additional 743,601 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction that occurred 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 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 filing with the SEC, which can be accessed through this link. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Evercore ISI restated an “outperform” rating and set a $250.00 price objective on shares of Apple in a research note on Wednesday, August 13th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $217.00 target price on shares of Apple in a research report on Tuesday, July 29th. Scotiabank cut Apple to a “market perform” rating in a research note on Friday, May 2nd. TD Cowen decreased 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, Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research note on Friday, July 25th. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $237.60.

Apple Stock Performance

NASDAQ AAPL opened at $230.89 on Tuesday. The company has a market cap of $3.43 trillion, a PE ratio of 35.04, a price-to-earnings-growth ratio of 2.42 and a beta of 1.16. The stock’s 50 day simple moving average is $210.28 and its 200-day simple moving average is $212.94. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. 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 released its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%. The business’s quarterly revenue 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. As a group, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple declared that its Board of Directors has approved a share buyback program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Apple Dividend Announcement

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 was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.5%. Apple’s dividend payout ratio (DPR) is presently 15.78%.

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.