Intrua Financial LLC Sells 9,676 Shares of Apple Inc. $AAPL

Intrua Financial LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 13.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,699 shares of the iPhone maker’s stock after selling 9,676 shares during the period. Apple makes up approximately 1.9% of Intrua Financial LLC’s holdings, making the stock its 11th biggest position. Intrua Financial LLC’s holdings in Apple were worth $13,261,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Turn8 Private Wealth Inc. raised its stake in shares of Apple by 9.3% in the 1st quarter. Turn8 Private Wealth Inc. now owns 16,646 shares of the iPhone maker’s stock valued at $3,698,000 after buying an additional 1,412 shares in the last quarter. Jacobi Capital Management LLC raised its stake in shares of Apple by 1.3% in the 1st quarter. Jacobi Capital Management LLC now owns 100,859 shares of the iPhone maker’s stock valued at $22,404,000 after buying an additional 1,292 shares in the last quarter. SWS Partners raised its stake in shares of Apple by 2.4% in the 1st quarter. SWS Partners now owns 6,165 shares of the iPhone maker’s stock valued at $1,369,000 after buying an additional 143 shares in the last quarter. Triune Financial Partners LLC raised its stake in shares of Apple by 98.8% in the 1st quarter. Triune Financial Partners LLC now owns 1,950 shares of the iPhone maker’s stock valued at $433,000 after buying an additional 969 shares in the last quarter. Finally, Mattson Financial Services LLC raised its stake in shares of Apple by 6.3% in the 1st quarter. Mattson Financial Services LLC now owns 37,155 shares of the iPhone maker’s stock valued at $8,253,000 after buying an additional 2,200 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Rosenblatt Securities increased their price objective on shares of Apple from $223.00 to $241.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. Jefferies Financial Group increased their target price on shares of Apple from $190.67 to $205.82 and gave the stock a “hold” rating in a research report on Monday, September 8th. Wedbush reiterated an “outperform” rating and set a $270.00 target price on shares of Apple in a research report on Tuesday, September 9th. Moffett Nathanson upgraded shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price for the company in a research report on Thursday, September 4th. Finally, Citigroup reiterated a “buy” rating on shares of Apple in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $240.80.

Apple Trading Up 1.8%

AAPL opened at $234.07 on Monday. 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 capitalization of $3.47 trillion, a PE ratio of 35.52, a PEG ratio of 2.43 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 firm has a 50-day moving average price of $221.50 and a two-hundred day moving average price of $212.02.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating the consensus estimate 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%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.40 EPS. As a group, equities analysts anticipate that Apple Inc. will post 7.28 earnings per share 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 paid 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%.

Insider Activity

In other news, SVP Deirdre O’brien sold 34,821 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company 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.