Beaird Harris Wealth Management LLC Lowers Stock Holdings in Apple Inc. $AAPL

Beaird Harris Wealth Management LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 6.3% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,954 shares of the iPhone maker’s stock after selling 1,684 shares during the quarter. Beaird Harris Wealth Management LLC’s holdings in Apple were worth $5,543,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Life Planning Partners Inc purchased a new position in shares of Apple during the 4th quarter valued at $47,000. Elite Financial Inc. bought a new stake in shares of Apple in the 1st quarter worth about $58,000. Conquis Financial LLC bought a new stake in shares of Apple in the 4th quarter worth about $63,000. LSV Asset Management bought a new stake in shares of Apple in the 4th quarter worth about $65,000. Finally, Pillar Financial Advisors LLC bought a new position in Apple during the 4th quarter valued at about $82,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on AAPL. Morgan Stanley set a $240.00 price target on shares of Apple and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Citigroup reissued a “buy” rating on shares of Apple in a research report on Wednesday. UBS Group reissued a “neutral” rating on shares of Apple in a research report on Monday. Rosenblatt Securities increased their target price on shares of Apple from $223.00 to $241.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Loop Capital decreased their target price on shares of Apple from $230.00 to $226.00 and set a “hold” rating for the company in a research report on Thursday, August 21st. Two investment 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average target price of $240.80.

Apple Stock Up 1.8%

NASDAQ:AAPL opened at $234.07 on Friday. The firm has a market capitalization of $3.47 trillion, a P/E ratio of 35.52, a PEG ratio of 2.39 and a beta of 1.11. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company’s fifty day moving average price is $221.50 and its 200-day moving average price is $212.39. 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 (NASDAQ:AAPL) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business’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 earnings per share. As a group, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

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

Insider Buying and Selling at Apple

In other news, SVP Deirdre O’brien sold 34,821 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares in the company, valued at $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 available through the SEC website. 0.06% of the stock is owned by insiders.

Apple Company 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.