Apple Inc. $AAPL is Delap Wealth Advisory LLC’s 10th Largest Position

Delap Wealth Advisory LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,649 shares of the iPhone maker’s stock after selling 169 shares during the period. Apple makes up approximately 2.2% of Delap Wealth Advisory LLC’s investment portfolio, making the stock its 10th biggest holding. Delap Wealth Advisory LLC’s holdings in Apple were worth $3,920,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tallon Kerry Patrick purchased a new position in Apple in the fourth quarter valued at $1,877,000. First National Bank of Hutchinson increased its stake in Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after buying an additional 6,982 shares in the last quarter. Eagle Capital Management LLC grew its position in shares of Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after purchasing an additional 272 shares in the last quarter. Brighton Jones LLC grew its position in shares of Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after purchasing an additional 69,207 shares in the last quarter. Finally, Revolve Wealth Partners LLC grew its position in shares of Apple by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after purchasing an additional 2,695 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on AAPL shares. Raymond James Financial restated an “outperform” rating and issued a $240.00 price objective (up from $230.00) on shares of Apple in a report on Friday, August 1st. Morgan Stanley set a $240.00 price target on Apple and gave the company an “overweight” rating in a research note on Wednesday. Monness Crespi & Hardt raised their price target on Apple from $245.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 1st. UBS Group raised their price target on Apple from $210.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Finally, Barclays raised their price target on Apple from $173.00 to $180.00 and gave the company an “underweight” rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $239.05.

Insider Transactions at Apple

In related news, SVP Deirdre O’brien sold 34,821 shares of the business’s stock in a transaction dated 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 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 at the SEC website. 0.06% of the stock is owned by company insiders.

Apple Stock Up 0.5%

Shares of NASDAQ:AAPL opened at $239.78 on Friday. The stock has a market cap of $3.56 trillion, a P/E ratio of 36.39, a P/E/G ratio of 2.49 and a beta of 1.11. The firm has a fifty day moving average price of $218.50 and a 200 day moving average price of $212.89. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion during 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%. Apple’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.40 EPS. Sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

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

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.