Wealthcare Advisory Partners LLC Sells 1,694 Shares of Apple Inc. (NASDAQ:AAPL)



Wealthcare Advisory Partners LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 1.3% in the first quarter, Holdings Channel reports. The fund owned 130,114 shares of the iPhone maker’s stock after selling 1,694 shares during the quarter. Apple comprises approximately 1.4% of Wealthcare Advisory Partners LLC’s investment portfolio, making the stock its 15th biggest holding. Wealthcare Advisory Partners LLC’s holdings in Apple were worth $22,719,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Cardinal Capital Management Inc. boosted its holdings in Apple by 5,525.0% during the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock value sharesd at $39,000 after acquiring an additional 221 during the period. Shore Point Advisors LLC bought a new stake in Apple during the fourth quarter valued at about $41,000. st. James Investment Advisors LLC bought a new stake in Apple during the fourth quarter valued at about $57,000. Econ Financial Services Corp bought a new stake in shares of Apple in the fourth quarter valued at about $58,000. Finally, Castle Financial & Retirement Planning Associates Inc. bought a new stake in shares of Apple in the fourth quarter valued at about $116,000. Institutional investors own 57.98% of the company’s stock.

Several research firms recently weighed in on AAPL. The Goldman Sachs Group set a $157.00 target price on shares of Apple in a research note on Friday, June 3rd. Barclays set a $167.00 price target on shares of Apple in a research report on Tuesday, June 7th. Credit Suisse Group set a $169.00 price target on shares of Apple in a research report on Friday, April 29th. Fundamental Research dropped their objective price on shares of Apple from $179.32 to $175.24 and set an “average” rating for the company in a report on Friday, May 6th. Finally, Deutsche Bank Rese… set a $210.00 price objective on shares of Apple in a report on Friday, April 8th. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $185.64.

AAPL stock opened at $141.56 on Wednesday. Apple Inc. has a one year low of $129.04 and a one year high of $182.94. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.88. The stock has a market cap of $2.29 trillion, a price-to-earnings ratio of 22.98, a price-to-earnings-growth ratio of 1.82 and a beta of 1.19. The company has a fifty day moving average price of $144.63 and a two-hundred day moving average price of $160.50.

Apple (NASDAQ:AAPL – Get Rating) last posted its earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.09. Apple had a return on equity of 152.88% and a net margin of 26.41%. The company had revenue of $97.28 billion during the quarter, compared to the consensus estimate of $93.99 billion. During the same quarter last year, the firm earned $1.40 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. Research analysts anticipate that Apple Inc. will post 6.1 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Stockholders of record on Monday, May 9th were issued a dividend of $0.23 per share. The ex-dividend date was Friday, May 6th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.65%. This is an increase from Apple’s previous quarterly dividend of $0.22. Apple’s dividend payout ratio (DPR) is currently 14.94%.

Apple announced that its board has authorized a stock buyback program on Thursday, April 28th that permits the company to buyback $90.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to repurchase up to 3.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the completion of the transaction, the senior vice president now owns 452,334 shares of the company’s stock, valued at $73,151,454.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Deirdre O’brien sold 8,000 shares of the business’s stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $164.91, for a total value of $1,319,280.00. Following the transaction, the senior vice president now directly owns 136,290 shares of the company’s stock, valued at approximately $22,475,583.90. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

About Apple (Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

Read More

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL – Get Rating).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)



Receive News & Ratings for Apple Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Apple and related companies with MarketBeat.com’s FREE daily email newsletter.

.

Leave a Comment