Apple Inc. $AAPL Shares Sold by US Asset Management LLC

US Asset Management LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 37,687 shares of the iPhone maker’s stock after selling 130 shares during the period. Apple comprises approximately 8.0% of US Asset Management LLC’s portfolio, making the stock its biggest position. US Asset Management LLC’s holdings in Apple were worth $8,371,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Life Planning Partners Inc purchased a new position in shares of Apple in the 4th quarter worth approximately $47,000. Elite Financial Inc. bought a new stake in Apple during the first quarter worth $58,000. Conquis Financial LLC purchased a new position in Apple in the fourth quarter worth $63,000. LSV Asset Management bought a new position in Apple in the 4th quarter valued at $65,000. Finally, Pillar Financial Advisors LLC bought a new position in Apple in the 4th quarter valued at $82,000. Institutional investors own 67.73% of the company’s stock.

Insider Activity at Apple

In other news, SVP Deirdre O’brien sold 34,821 shares of the firm’s stock in a transaction on 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 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AAPL shares. BMO Capital Markets reiterated a “buy” rating on shares of Apple in a research note on Wednesday, August 13th. Raymond James Financial reiterated an “outperform” rating and set a $240.00 price target (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. JPMorgan Chase & Co. lifted their price objective on Apple from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Rosenblatt Securities reaffirmed a “neutral” rating and set a $217.00 price objective on shares of Apple in a report on Tuesday, July 29th. Finally, Morgan Stanley lifted their target price on shares of Apple from $235.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $237.98.

Apple Stock Performance

NASDAQ:AAPL opened at $227.76 on Friday. The stock has a market cap of $3.38 trillion, a P/E ratio of 34.56, a PEG ratio of 2.38 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. The business’s 50-day moving average price is $212.52 and its two-hundred day moving average price is $212.96. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. The company had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.Apple’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.40 earnings per share. As a group, equities analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple declared that its Board of Directors has initiated a stock repurchase program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Apple Announces Dividend

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

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.