Apple Inc. (NASDAQ:AAPL) Shares Sold by ERTS Wealth Advisors LLC

ERTS Wealth Advisors LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 8.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,821 shares of the iPhone maker’s stock after selling 1,674 shares during the period. Apple accounts for approximately 0.8% of ERTS Wealth Advisors LLC’s investment portfolio, making the stock its 17th biggest holding. ERTS Wealth Advisors LLC’s holdings in Apple were worth $4,181,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Life Planning Partners Inc purchased a new stake in Apple in the fourth quarter valued at $47,000. Conquis Financial LLC purchased a new stake in shares of Apple during the 4th quarter worth about $63,000. LSV Asset Management purchased a new stake in shares of Apple during the 4th quarter worth about $65,000. Pillar Financial Advisors LLC purchased a new stake in shares of Apple during the 4th quarter worth about $82,000. Finally, Compass Planning Associates Inc purchased a new stake in shares of Apple during the 4th quarter worth about $96,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,486 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the transaction, the insider owned 15,533 shares of the company’s stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the topic of several recent analyst reports. TD Cowen lowered their target price on shares of Apple from $290.00 to $275.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $217.00 price target on shares of Apple in a research note on Tuesday. JPMorgan Chase & Co. raised their price target on shares of Apple from $230.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. UBS Group reaffirmed a “hold” rating on shares of Apple in a research note on Friday, July 18th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Apple in a research note on Friday, June 13th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $234.94.

Apple Stock Down 1.3%

Shares of NASDAQ AAPL opened at $211.27 on Wednesday. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a market capitalization of $3.16 trillion, a PE ratio of 32.91, a price-to-earnings-growth ratio of 2.39 and a beta of 1.20. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. The firm’s 50-day moving average is $204.96 and its two-hundred day moving average is $214.20.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The company had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same quarter in the prior year, the firm earned $1.53 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its board has initiated a stock repurchase program on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a dividend of $0.26 per share. This is a positive change from Apple’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.49%. Apple’s dividend payout ratio is 16.20%.

Apple 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.