Apple Inc. (NASDAQ:AAPL) is Etesian Wealth Advisors Inc.’s 6th Largest Position

Etesian Wealth Advisors Inc. lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,130 shares of the iPhone maker’s stock after selling 260 shares during the quarter. Apple makes up approximately 3.2% of Etesian Wealth Advisors Inc.’s holdings, making the stock its 6th largest holding. Etesian Wealth Advisors Inc.’s holdings in Apple were worth $5,510,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Conservest Capital Advisors Inc. raised its holdings in shares of Apple by 0.3% during the 3rd quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock valued at $2,877,000 after buying an additional 55 shares during the period. Flagstone Financial Management increased its holdings in Apple by 0.9% during the 4th quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock worth $1,173,000 after purchasing an additional 56 shares during the last quarter. High Pines Wealth Management LLC increased its holdings in Apple by 0.7% during the 4th quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock worth $1,638,000 after purchasing an additional 58 shares during the last quarter. Asset Planning Corporation increased its holdings in Apple by 1.0% during the 4th quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock worth $1,181,000 after purchasing an additional 59 shares during the last quarter. Finally, Columbus Macro LLC increased its holdings in Apple by 0.5% during the 4th quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock worth $2,120,000 after purchasing an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AAPL shares. Maxim Group lifted their price objective on Apple from $178.00 to $195.00 and gave the stock a “hold” rating in a report on Tuesday, June 25th. Rosenblatt Securities upgraded Apple from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $196.00 to $260.00 in a report on Wednesday, June 26th. Erste Group Bank upgraded Apple from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Needham & Company LLC restated a “buy” rating and set a $220.00 price objective on shares of Apple in a report on Monday. Finally, DA Davidson upgraded Apple from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $200.00 to $230.00 in a report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.71.

Apple Trading Up 2.9 %

Shares of AAPL stock opened at $216.75 on Tuesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $220.20. The stock has a fifty day moving average of $192.13 and a two-hundred day moving average of $185.31. The firm has a market capitalization of $3.32 trillion, a PE ratio of 33.71, a price-to-earnings-growth ratio of 2.56 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. The business had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The company’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.52 earnings per share. As a group, research analysts expect that Apple Inc. will post 6.59 EPS for the current year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were issued a $0.25 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, May 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.46%. Apple’s dividend payout ratio is 15.55%.

Apple announced that its Board of Directors has initiated a share repurchase program on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, insider Chris Kondo sold 4,999 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the completion of the sale, the insider now owns 29,278 shares in the company, valued at $5,574,531.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Chris Kondo sold 4,999 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the completion of the sale, the insider now owns 29,278 shares in the company, valued at $5,574,531.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Luca Maestri sold 53,194 shares of the business’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total value of $9,262,139.28. Following the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at $18,768,046.56. The disclosure for this sale can be found here. Insiders sold a total of 192,355 shares of company stock worth $34,771,329 over the last 90 days. 0.06% of the stock is currently owned by company 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.