Apple Inc. $AAPL Stake Cut by Roffman Miller Associates Inc. PA

Roffman Miller Associates Inc. PA lowered its stake in Apple Inc. (NASDAQ:AAPL) by 1.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 479,722 shares of the iPhone maker’s stock after selling 5,169 shares during the quarter. Apple makes up about 6.7% of Roffman Miller Associates Inc. PA’s holdings, making the stock its biggest position. Roffman Miller Associates Inc. PA’s holdings in Apple were worth $106,561,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Burkett Financial Services LLC raised its holdings in Apple by 0.6% in the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock valued at $3,199,000 after acquiring an additional 93 shares during the last quarter. Avid Wealth Partners LLC raised its holdings in Apple by 28.3% in the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock valued at $935,000 after acquiring an additional 930 shares during the last quarter. OneAscent Wealth Management LLC raised its holdings in Apple by 4.6% in the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock valued at $2,337,000 after acquiring an additional 409 shares during the last quarter. TruWealth Advisors LLC raised its holdings in Apple by 2.8% in the 1st quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker’s stock valued at $42,045,000 after acquiring an additional 5,120 shares during the last quarter. Finally, Allstate Corp raised its holdings in Apple by 3,368.2% in the 4th quarter. Allstate Corp now owns 451,489 shares of the iPhone maker’s stock valued at $113,062,000 after acquiring an additional 438,471 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Trading Up 1.3%

AAPL stock opened at $227.76 on Monday. The company has a market cap of $3.38 trillion, a price-to-earnings 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 has a fifty day simple moving average of $212.52 and a 200-day simple moving average of $212.82. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion during 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 revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.40 EPS. On average, equities research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its Board of Directors has authorized a share repurchase program on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

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. 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 dividend payout ratio is 15.78%.

Insiders Place Their Bets

In related news, SVP Deirdre O’brien sold 34,821 shares of the company’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 completion of the sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the subject of several analyst reports. Monness Crespi & Hardt boosted their price target on Apple from $245.00 to $270.00 and gave the company a “buy” rating in a report on Friday, August 1st. DA Davidson reiterated a “buy” rating and issued a $250.00 price target on shares of Apple in a report on Friday, August 1st. Jefferies Financial Group upgraded Apple from an “underperform” rating to a “hold” rating in a report on Friday, July 18th. TD Cowen cut their price target on Apple from $290.00 to $275.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Finally, UBS Group boosted their price target on Apple from $210.00 to $220.00 and gave the company a “neutral” rating in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $237.98.

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.