Private Portfolio Partners LLC Lowers Holdings in Apple Inc. (NASDAQ:AAPL)

Private Portfolio Partners LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 57,423 shares of the iPhone maker’s stock after selling 2,086 shares during the period. Apple makes up approximately 2.3% of Private Portfolio Partners LLC’s holdings, making the stock its 5th biggest position. Private Portfolio Partners LLC’s holdings in Apple were worth $7,014,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ulysses Management LLC increased its position in shares of Apple by 19.0% during the 1st quarter. Ulysses Management LLC now owns 12,500 shares of the iPhone maker’s stock valued at $1,527,000 after purchasing an additional 2,000 shares during the last quarter. Resolute Partners Group increased its position in shares of Apple by 154.0% during the 1st quarter. Resolute Partners Group now owns 5,309 shares of the iPhone maker’s stock valued at $532,000 after purchasing an additional 3,219 shares during the last quarter. Coastal Bridge Advisors LLC increased its position in shares of Apple by 2.2% during the 1st quarter. Coastal Bridge Advisors LLC now owns 56,494 shares of the iPhone maker’s stock valued at $6,901,000 after purchasing an additional 1,213 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Apple by 18.4% during the 1st quarter. Captrust Financial Advisors now owns 2,725,867 shares of the iPhone maker’s stock valued at $332,965,000 after purchasing an additional 424,286 shares during the last quarter. Finally, Corient Capital Partners LLC increased its position in shares of Apple by 5.7% during the 1st quarter. Corient Capital Partners LLC now owns 296,080 shares of the iPhone maker’s stock valued at $36,166,000 after purchasing an additional 15,882 shares during the last quarter. Institutional investors and hedge funds own 56.20% of the company’s stock.

In related news, CFO Luca Maestri sold 121,072 shares of the firm’s stock in a transaction on Monday, May 3rd. The stock was sold at an average price of $132.81, for a total value of $16,079,572.32. Following the completion of the sale, the chief financial officer now directly owns 143,961 shares in the company, valued at $19,119,460.41. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Katherine L. Adams sold 17,000 shares of the firm’s stock in a transaction on Monday, May 3rd. The stock was sold at an average price of $132.80, for a total value of $2,257,600.00. Following the completion of the sale, the senior vice president now owns 333,044 shares of the company’s stock, valued at $44,228,243.20. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Several research firms have recently commented on AAPL. Morgan Stanley upped their price target on shares of Apple from $162.00 to $166.00 and gave the company an “overweight” rating in a research report on Thursday, July 15th. Credit Suisse Group reaffirmed a “neutral” rating and set a $150.00 price target on shares of Apple in a research report on Tuesday, June 8th. Evercore ISI reissued a “buy” rating on shares of Apple in a report on Sunday, June 27th. Zacks Investment Research lowered shares of Apple from a “buy” rating to a “hold” rating and set a $128.00 target price for the company. in a report on Tuesday, March 30th. Finally, Wedbush increased their target price on shares of Apple from $175.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, April 29th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. Apple currently has a consensus rating of “Buy” and an average price target of $149.63.

NASDAQ AAPL opened at $145.40 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 1.57. The company has a market cap of $2.43 trillion, a P/E ratio of 32.81, a P/E/G ratio of 2.22 and a beta of 1.21. Apple Inc. has a one year low of $89.14 and a one year high of $150.00. The firm’s 50 day moving average price is $133.11.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, April 27th. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.41. The company had revenue of $89.58 billion during the quarter, compared to the consensus estimate of $76.84 billion. Apple had a return on equity of 111.80% and a net margin of 23.45%. Apple’s revenue was up 53.6% on a year-over-year basis. During the same period last year, the company earned $0.64 earnings per share. On average, equities analysts expect that Apple Inc. will post 5.19 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 13th. Investors of record on Monday, May 10th were given a $0.22 dividend. The ex-dividend date was Friday, May 7th. This is an increase from Apple’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.61%. Apple’s dividend payout ratio (DPR) is currently 26.83%.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.

Featured Story: Quantitative Easing

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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