Apple Inc. $AAPL Shares Sold by Pure Portfolios Holdings LLC

Pure Portfolios Holdings LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 8.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,875 shares of the iPhone maker’s stock after selling 2,391 shares during the period. Apple accounts for 2.1% of Pure Portfolios Holdings LLC’s investment portfolio, making the stock its 13th biggest position. Pure Portfolios Holdings LLC’s holdings in Apple were worth $5,748,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Life Planning Partners Inc acquired a new stake in shares of Apple in the fourth quarter worth approximately $47,000. Elite Financial Inc. acquired a new position in Apple during the first quarter worth approximately $58,000. Conquis Financial LLC purchased a new position in Apple during the fourth quarter worth approximately $63,000. LSV Asset Management acquired a new position in shares of Apple in the 4th quarter valued at $65,000. Finally, Pillar Financial Advisors LLC purchased a new stake in shares of Apple during the 4th quarter valued at $82,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Price Performance

Shares of AAPL stock opened at $227.76 on Friday. The firm has a fifty day simple moving average of $212.52 and a 200-day simple moving average of $212.96. The company has a market capitalization of $3.38 trillion, a PE ratio of 34.56, a price-to-earnings-growth ratio of 2.38 and a beta of 1.16. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL) last released its quarterly 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 firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.40 EPS. Equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple declared that its Board of Directors has approved a stock repurchase 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 shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.5%. Apple’s payout ratio is currently 15.78%.

Insider Activity

In related news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction 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 completion of the sale, the senior vice president 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on AAPL. Evercore ISI reaffirmed an “outperform” rating and issued a $250.00 target price on shares of Apple in a research report on Wednesday, August 13th. Bank of America upped their price target on Apple from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Barclays raised their price objective on Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a report on Friday, August 1st. Morgan Stanley lifted their price objective on Apple from $235.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, BMO Capital Markets reissued a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $237.98.

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.