Revolve Wealth Partners LLC Sells 1,029 Shares of Apple Inc. (NASDAQ:AAPL)

Revolve Wealth Partners LLC lowered its stake in Apple Inc. (NASDAQ:AAPL) by 1.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 61,085 shares of the iPhone maker’s stock after selling 1,029 shares during the quarter. Apple comprises approximately 1.8% of Revolve Wealth Partners LLC’s investment portfolio, making the stock its 17th biggest holding. Revolve Wealth Partners LLC’s holdings in Apple were worth $10,475,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Flagstone Financial Management grew its stake in shares of Apple by 0.9% in the fourth quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock valued at $1,173,000 after acquiring an additional 56 shares in the last quarter. High Pines Wealth Management LLC boosted its holdings in Apple by 0.7% in the 4th quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock valued at $1,638,000 after purchasing an additional 58 shares during the period. Asset Planning Corporation grew its position in shares of 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 in the last quarter. Columbus Macro LLC increased its holdings in shares of Apple by 0.5% during the fourth 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 period. Finally, Stableford Capital II LLC raised its position in shares of Apple by 0.3% in the first quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock valued at $2,942,000 after buying an additional 59 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AAPL shares. Evercore ISI increased their price target on Apple from $220.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 25th. Barclays reissued an “underweight” rating and set a $164.00 target price on shares of Apple in a report on Tuesday, June 11th. DA Davidson upgraded Apple from a “neutral” rating to a “buy” rating and raised their price target for the stock from $200.00 to $230.00 in a research report on Tuesday, June 11th. Canaccord Genuity Group upped their price objective on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Saturday, May 4th. Finally, Melius Research raised their target price on shares of Apple from $227.00 to $260.00 and gave the company a “buy” rating in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $215.71.

Insider Buying and Selling at Apple

In other news, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the sale, the chief financial officer now owns 107,788 shares in the company, valued at approximately $18,768,046.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Luca Maestri sold 53,194 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $18,768,046.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Jeffrey E. Williams sold 59,162 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $172.22, for a total value of $10,188,879.64. Following the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at $84,378,155.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 192,355 shares of company stock valued at $34,771,329. 0.06% of the stock is currently owned by company insiders.

Apple Stock Up 0.6 %

Shares of NASDAQ AAPL opened at $221.55 on Thursday. The company’s 50 day moving average price is $194.21 and its 200-day moving average price is $185.60. 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 52-week low of $164.07 and a 52-week high of $221.55. The company has a market capitalization of $3.40 trillion, a P/E ratio of 34.46, a price-to-earnings-growth ratio of 2.56 and a beta of 1.24.

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

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were issued a $0.25 dividend. This is an increase from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Friday, May 10th. Apple’s payout ratio is presently 15.55%.

Apple declared that its board has authorized a share repurchase plan on Thursday, May 2nd that allows the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.