PFW Advisors LLC Cuts Stock Position in Apple Inc. $AAPL

PFW Advisors LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 8.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,792 shares of the iPhone maker’s stock after selling 2,107 shares during the quarter. Apple comprises about 1.4% of PFW Advisors LLC’s investment portfolio, making the stock its 15th largest holding. PFW Advisors LLC’s holdings in Apple were worth $4,676,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Advanced Portfolio Management LLC increased its position in Apple by 0.3% during the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock valued at $3,260,000 after buying an additional 47 shares in the last quarter. Salus Financial Advisors LLC grew its stake in shares of Apple by 3.9% during the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock worth $291,000 after acquiring an additional 49 shares during the last quarter. Sharpepoint LLC increased its holdings in shares of Apple by 3.5% during the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock valued at $322,000 after acquiring an additional 51 shares in the last quarter. Redwood Financial Network Corp raised its position in shares of Apple by 0.6% in the 4th quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker’s stock valued at $2,184,000 after purchasing an additional 53 shares during the last quarter. Finally, Mission Hills Financial Advisory LLC raised its position in shares of Apple by 1.3% in the 1st quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker’s stock valued at $892,000 after purchasing an additional 53 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Price Performance

Shares of NASDAQ AAPL opened at $252.31 on Thursday. The stock has a market capitalization of $3.74 trillion, a price-to-earnings ratio of 38.29, a PEG ratio of 2.64 and a beta of 1.11. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The firm’s 50 day simple moving average is $227.04 and its 200-day simple moving average is $212.78. 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 posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) 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 business’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.40 EPS. Analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid a dividend of $0.26 per share. 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 is presently 15.78%.

Insider Activity at Apple

In other news, SVP Deirdre O’brien sold 34,821 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was 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 in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AAPL shares. The Goldman Sachs Group restated a “buy” rating and set a $266.00 price target on shares of Apple in a research note on Tuesday, August 26th. UBS Group reissued a “neutral” rating on shares of Apple in a report on Monday, September 8th. Tigress Financial upped their target price on Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 17th. Loop Capital lowered their price target on Apple from $230.00 to $226.00 and set a “hold” rating for the company in a research report on Thursday, August 21st. Finally, Jefferies Financial Group boosted their price target on Apple from $190.67 to $205.82 and gave the company a “hold” rating in a research note on Monday, September 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average target price of $244.66.

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.