Revisor Wealth Management LLC Trims Stock Holdings in Apple Inc. $AAPL

Revisor Wealth Management LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 14.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,681 shares of the iPhone maker’s stock after selling 9,189 shares during the period. Apple comprises 5.4% of Revisor Wealth Management LLC’s holdings, making the stock its 2nd biggest holding. Revisor Wealth Management LLC’s holdings in Apple were worth $12,146,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Tallon Kerry Patrick bought a new position in Apple in the 4th quarter worth about $1,877,000. First National Bank of Hutchinson grew its stake in Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after acquiring an additional 6,982 shares in the last quarter. Capital & Planning LLC grew its stake in Apple by 10.7% in the 4th quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker’s stock worth $6,836,000 after acquiring an additional 2,647 shares in the last quarter. Eagle Capital Management LLC grew its stake in Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after acquiring an additional 272 shares in the last quarter. Finally, Brighton Jones LLC grew its stake in Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after acquiring an additional 69,207 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AAPL shares. Loop Capital dropped their price objective on shares of Apple from $230.00 to $215.00 and set a “hold” rating on the stock in a research note on Wednesday, April 30th. Raymond James Financial reiterated an “outperform” rating and set a $240.00 price objective (up from $230.00) on shares of Apple in a research note on Friday, August 1st. Scotiabank downgraded shares of Apple to a “market perform” rating in a research note on Friday, May 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research note on Friday, July 25th. Finally, China Renaissance started coverage on shares of Apple in a research note on Tuesday, April 22nd. They set a “buy” rating and a $241.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.60.

Insiders Place Their Bets

In related news, SVP Deirdre O’brien sold 34,821 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the transaction, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.

Apple Stock Down 0.3%

Shares of NASDAQ AAPL opened at $230.89 on Tuesday. The company’s 50-day simple moving average is $210.28 and its 200-day simple moving average is $212.94. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The firm has a market cap of $3.43 trillion, a price-to-earnings ratio of 35.04, a price-to-earnings-growth ratio of 2.42 and a beta of 1.16. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

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

Apple Announces Dividend

The firm also recently declared 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 payout ratio is presently 15.78%.

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

About Apple

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.