Apple Inc. $AAPL Shares Sold by Evergreen Wealth Management LLC

Evergreen Wealth Management LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 26.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,511 shares of the iPhone maker’s stock after selling 3,346 shares during the period. Apple makes up 1.3% of Evergreen Wealth Management LLC’s holdings, making the stock its 29th biggest holding. Evergreen Wealth Management LLC’s holdings in Apple were worth $2,113,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Yeomans Consulting Group Inc. grew its holdings in shares of Apple by 2.2% in the first quarter. Yeomans Consulting Group Inc. now owns 9,229 shares of the iPhone maker’s stock valued at $2,050,000 after purchasing an additional 199 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Apple by 65.1% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 973,700 shares of the iPhone maker’s stock worth $216,288,000 after acquiring an additional 384,000 shares in the last quarter. Ring Mountain Capital LLC boosted its holdings in shares of Apple by 0.8% in the 1st quarter. Ring Mountain Capital LLC now owns 75,008 shares of the iPhone maker’s stock valued at $16,661,000 after buying an additional 572 shares in the last quarter. JDH Wealth Management LLC boosted its holdings in shares of Apple by 3.9% in the 1st quarter. JDH Wealth Management LLC now owns 10,885 shares of the iPhone maker’s stock valued at $2,418,000 after buying an additional 407 shares in the last quarter. Finally, Creekmur Asset Management LLC boosted its stake in Apple by 25.0% during the 1st quarter. Creekmur Asset Management LLC now owns 31,789 shares of the iPhone maker’s stock worth $7,061,000 after purchasing an additional 6,362 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Bank of America reiterated a “buy” rating and set a $250.00 price target on shares of Apple in a research note on Monday, August 25th. Raymond James Financial reiterated an “outperform” rating and issued a $240.00 price target (up previously from $230.00) on shares of Apple in a report on Friday, August 1st. Evercore ISI restated an “outperform” rating and set a $250.00 target price on shares of Apple in a report on Wednesday, August 13th. Citigroup raised their target price on shares of Apple from $240.00 to $245.00 and gave the company a “buy” rating in a report on Friday, August 1st. Finally, Monness Crespi & Hardt lifted their price target on shares of Apple from $245.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $237.37.

Apple Trading Down 0.2%

NASDAQ AAPL opened at $232.14 on Friday. The company’s fifty day simple moving average is $215.79 and its 200-day simple moving average is $212.91. Apple Inc. has a 52 week low of $169.21 and a 52 week 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. The stock has a market cap of $3.45 trillion, a P/E ratio of 35.23, a PEG ratio of 2.42 and a beta of 1.16.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the company posted $1.40 earnings per share. Equities research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio is currently 15.78%.

Insider Activity at Apple

In other news, SVP Deirdre O’brien sold 34,821 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.06% of the company’s stock.

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.