Dupree Financial Group LLC Trims Stock Holdings in Apple Inc. $AAPL

Dupree Financial Group LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,388 shares of the iPhone maker’s stock after selling 225 shares during the quarter. Apple comprises approximately 1.7% of Dupree Financial Group LLC’s portfolio, making the stock its 20th biggest position. Dupree Financial Group LLC’s holdings in Apple were worth $4,307,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Life Planning Partners Inc acquired a new position in Apple during the fourth quarter worth $47,000. Elite Financial Inc. acquired a new stake in shares of Apple during the first quarter valued at $58,000. Conquis Financial LLC purchased a new position in Apple during the fourth quarter worth about $63,000. LSV Asset Management purchased a new position in Apple during the fourth quarter worth about $65,000. Finally, Pillar Financial Advisors LLC purchased a new position in shares of Apple in the 4th quarter worth about $82,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Up 1.3%

AAPL opened at $227.76 on Monday. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The stock’s fifty day moving average is $212.52 and its 200-day moving average is $212.82. The company has a market capitalization of $3.38 trillion, a PE ratio of 34.56, a P/E/G ratio of 2.38 and a beta of 1.16.

Apple (NASDAQ:AAPL) last posted 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 company had revenue of $94.04 billion for 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 company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.40 EPS. On average, equities analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

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

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

Wall Street Analyst Weigh In

Several brokerages recently commented on AAPL. DA Davidson reiterated a “buy” rating and set a $250.00 target price on shares of Apple in a report on Friday, August 1st. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research report on Friday, July 25th. Citigroup raised their price target on Apple from $240.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Wedbush reaffirmed an “outperform” rating and set a $270.00 target price on shares of Apple in a research note on Thursday, August 7th. Finally, Bank of America lifted their target price on Apple from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.98.

Insider Activity

In related news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction on 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 transaction, the senior vice president directly owned 136,687 shares in the company, valued at $30,508,538.40. The trade was a 20.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.06% of the stock is owned by insiders.

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.