Global Strategic Investment Solutions LLC Decreases Position in Apple Inc. $AAPL

Global Strategic Investment Solutions LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 34.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,774 shares of the iPhone maker’s stock after selling 8,112 shares during the quarter. Global Strategic Investment Solutions LLC’s holdings in Apple were worth $3,504,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Life Planning Partners Inc purchased a new stake in shares of Apple in the fourth quarter valued at $47,000. Conquis Financial LLC purchased a new stake in shares of Apple in the fourth quarter valued at $63,000. LSV Asset Management purchased a new stake in shares of Apple in the fourth quarter valued at $65,000. Pillar Financial Advisors LLC purchased a new stake in shares of Apple in the fourth quarter valued at $82,000. Finally, Compass Planning Associates Inc purchased a new stake in shares of Apple in the fourth quarter valued at $96,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $230.56 on Wednesday. The firm has a market capitalization of $3.42 trillion, a PE ratio of 34.99, 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. The business has a 50-day moving average of $210.83 and a two-hundred day moving average of $213.06. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) 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 business had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. During the same quarter last year, the firm earned $1.40 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple announced that its board has initiated 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 stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Apple Dividend Announcement

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

Insider Activity

In other news, SVP Deirdre O’brien sold 34,821 shares of the stock in a transaction dated 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 completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. China Renaissance assumed coverage on Apple in a research report on Tuesday, April 22nd. They set a “buy” rating and a $241.00 target price on the stock. Barclays increased their target price on Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research report on Friday, August 1st. Monness Crespi & Hardt increased their target price on Apple from $245.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a research report on Wednesday, May 21st. Finally, Loop Capital reduced their target price on Apple from $230.00 to $215.00 and set a “hold” rating on the stock in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target 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.