Client 1ST Advisory Group LLC Sells 75 Shares of Apple Inc. $AAPL

Client 1ST Advisory Group LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,531 shares of the iPhone maker’s stock after selling 75 shares during the period. Apple comprises approximately 1.1% of Client 1ST Advisory Group LLC’s investment portfolio, making the stock its 19th biggest holding. Client 1ST Advisory Group LLC’s holdings in Apple were worth $2,784,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Burkett Financial Services LLC raised its stake in shares of Apple by 0.6% during the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock valued at $3,199,000 after acquiring an additional 93 shares in the last quarter. Avid Wealth Partners LLC raised its stake in Apple by 28.3% in the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock worth $935,000 after buying an additional 930 shares in the last quarter. OneAscent Wealth Management LLC raised its stake in Apple by 4.6% in the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock worth $2,337,000 after buying an additional 409 shares in the last quarter. Bell & Brown Wealth Advisors LLC raised its stake in Apple by 0.4% in the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock worth $13,772,000 after buying an additional 240 shares in the last quarter. Finally, TruWealth Advisors LLC raised its stake in Apple by 2.8% in the first quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker’s stock worth $42,045,000 after buying an additional 5,120 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on AAPL shares. Evercore ISI boosted their price objective on shares of Apple from $250.00 to $260.00 and gave the stock an “outperform” rating in a research note on Wednesday. Loop Capital reduced their price objective on shares of Apple from $230.00 to $226.00 and set a “hold” rating for the company in a research note on Thursday, August 21st. JPMorgan Chase & Co. boosted their price objective on shares of Apple from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a report on Friday, July 25th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $266.00 price objective on shares of Apple in a report on Tuesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $240.80.

Apple Price Performance

Shares of AAPL opened at $234.07 on Friday. The firm has a market capitalization 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 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. The company’s fifty day moving average price is $221.50 and its 200-day moving average price is $212.20.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating 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 period in the previous year, the company earned $1.40 earnings per share. On average, equities research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

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

Insider Buying and Selling at Apple

In other news, SVP Deirdre O’brien sold 34,821 shares of the business’s stock in a transaction on 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 sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is owned by company 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.