Apple Inc. (NASDAQ:AAPL) Shares Sold by O Brien Wealth Partners LLC

O Brien Wealth Partners LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.6% in the 1st quarter, HoldingsChannel reports. The firm owned 21,659 shares of the iPhone maker’s stock after selling 798 shares during the period. Apple makes up 0.9% of O Brien Wealth Partners LLC’s investment portfolio, making the stock its 16th biggest position. O Brien Wealth Partners LLC’s holdings in Apple were worth $3,714,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Yeomans Consulting Group Inc. acquired a new stake in Apple in the fourth quarter valued at approximately $1,713,000. Raleigh Capital Management Inc. raised its holdings in shares of Apple by 11.8% in the 4th quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after purchasing an additional 1,643 shares in the last quarter. Headinvest LLC lifted its position in shares of Apple by 1.7% during the 3rd quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock worth $9,236,000 after purchasing an additional 872 shares during the last quarter. GLOBALT Investments LLC GA purchased a new stake in shares of Apple during the 4th quarter worth $38,406,000. Finally, Barden Capital Management Inc. grew its stake in shares of Apple by 132.8% during the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after purchasing an additional 18,615 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insiders Place Their Bets

In other news, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the transaction, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Arthur D. Levinson sold 75,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the transaction, the director now directly owns 4,359,576 shares in the company, valued at $835,207,570.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Kondo sold 4,999 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total transaction of $951,809.60. Following the completion of the sale, the insider now directly owns 29,278 shares in the company, valued at $5,574,531.20. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AAPL shares. Loop Capital cut their price target on Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Piper Sandler Companies restated a “neutral” rating and set a $225.00 target price (up previously from $190.00) on shares of Apple in a research note on Tuesday. Melius Research upped their price target on Apple from $227.00 to $260.00 and gave the company a “buy” rating in a report on Monday, June 24th. Bank of America reissued a “buy” rating and set a $230.00 price objective on shares of Apple in a report on Tuesday. Finally, UBS Group restated a “neutral” rating and issued a $190.00 target price on shares of Apple in a report on Monday, July 1st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $218.43.

Apple Price Performance

Apple stock opened at $227.57 on Friday. The company has a market cap of $3.49 trillion, a P/E ratio of 35.39, a price-to-earnings-growth ratio of 2.77 and a beta of 1.24. Apple Inc. has a one year low of $164.07 and a one year high of $233.08. The business has a fifty day moving average of $202.05 and a two-hundred day moving average of $187.27. 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 (NASDAQ:AAPL) last released 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. Apple had a return on equity of 148.33% and a net margin of 26.31%. The firm had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. During the same period last year, the business posted $1.52 EPS. Apple’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, analysts predict that Apple Inc. will post 6.59 earnings per share for the current fiscal year.

Apple announced that its board has initiated a stock repurchase program on Thursday, May 2nd that allows the company to buyback $110.00 billion in shares. This buyback authorization allows the iPhone maker to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. This is a boost from Apple’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, May 10th. Apple’s dividend payout ratio (DPR) is 15.55%.

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.