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

Perfromance Wealth Partners LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,104,830 shares of the iPhone maker’s stock after selling 43,770 shares during the quarter. Apple comprises 32.6% of Perfromance Wealth Partners LLC’s holdings, making the stock its largest holding. Perfromance Wealth Partners LLC’s holdings in Apple were worth $911,806,000 as of its most recent SEC filing.

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

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,486 shares of the firm’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 transaction, the insider owned 15,533 shares in the company, valued at $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $211.27 on Wednesday. The firm’s 50-day moving average price is $204.96 and its two-hundred day moving average price is $214.20. The stock has a market capitalization of $3.16 trillion, a P/E ratio of 32.91, a P/E/G ratio of 2.39 and a beta of 1.20. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.03. The company had revenue of $95.36 billion for the quarter, compared to analysts’ expectations of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.53 earnings per share. As a group, sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple declared that its board has approved a share buyback plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Apple Increases Dividend

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

Analyst Ratings Changes

AAPL has been the subject of a number of recent analyst reports. Loop Capital decreased their price target on Apple from $230.00 to $215.00 and set a “hold” rating for the company in a report on Wednesday, April 30th. Citigroup reaffirmed a “buy” rating on shares of Apple in a report on Tuesday, June 10th. Evercore ISI boosted their target price on Apple to $250.00 and gave the company a “buy” rating in a report on Friday, June 6th. Bank of America reissued a “buy” rating and issued a $235.00 target price on shares of Apple in a report on Tuesday, June 10th. Finally, Scotiabank cut Apple to a “market perform” rating in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $234.94.

About Apple

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.