Apple Inc. $AAPL Shares Sold by 1 North Wealth Services LLC

1 North Wealth Services LLC reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 2.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,636 shares of the iPhone maker’s stock after selling 985 shares during the quarter. Apple accounts for 3.4% of 1 North Wealth Services LLC’s portfolio, making the stock its 11th largest position. 1 North Wealth Services LLC’s holdings in Apple were worth $7,249,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Conquis Financial LLC bought a new position in Apple during the fourth quarter valued at about $63,000. LSV Asset Management bought a new position in Apple during the fourth quarter valued at about $65,000. Elite Financial Inc. bought a new position in Apple during the first quarter valued at about $58,000. Pillar Financial Advisors LLC bought a new position in Apple during the fourth quarter valued at about $82,000. Finally, Sellwood Investment Partners LLC bought a new position in Apple during the fourth quarter valued at about $147,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Phillip Securities cut Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 target price for the company. in a research note on Thursday. HSBC set a $220.00 target price on Apple and gave the stock a “hold” rating in a report on Monday. JPMorgan Chase & Co. lifted their target price on Apple from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Raymond James Financial restated an “outperform” rating and issued a $240.00 target price (up from $230.00) on shares of Apple in a report on Friday, August 1st. Finally, Loop Capital decreased their target price on Apple from $230.00 to $226.00 and set a “hold” rating on the stock in a report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $240.80.

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 stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.06% of the stock is currently owned by company insiders.

Apple Stock Performance

Shares of Apple stock opened at $234.07 on Friday. The stock has a market cap of $3.47 trillion, a PE ratio of 35.52, a price-to-earnings-growth ratio of 2.39 and a beta of 1.11. The business has a fifty day simple moving average of $221.50 and a 200-day simple moving average of $212.39. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last issued its earnings results 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 business had revenue of $94.04 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the firm posted $1.40 earnings per share. On average, sell-side analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s dividend payout ratio (DPR) 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.