BSW Wealth Partners Reduces Holdings in Apple Inc. (AAPL)
BSW Wealth Partners reduced its position in Apple Inc. (NASDAQ:AAPL) by 15.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,278 shares of the iPhone maker’s stock after selling 1,867 shares during the period. Apple comprises about 0.8% of BSW Wealth Partners’ holdings, making the stock its 19th largest position. BSW Wealth Partners’ holdings in Apple were worth $1,724,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Smart Portfolios LLC acquired a new position in shares of Apple during the 1st quarter valued at about $134,000. Macroview Investment Management LLC boosted its stake in Apple by 220.3% during the 1st quarter. Macroview Investment Management LLC now owns 900 shares of the iPhone maker’s stock valued at $151,000 after purchasing an additional 619 shares during the period. Litman Gregory Asset Management LLC boosted its stake in Apple by 553.8% during the 1st quarter. Litman Gregory Asset Management LLC now owns 1,033 shares of the iPhone maker’s stock valued at $173,000 after purchasing an additional 875 shares during the period. Stuart Chaussee & Associates Inc. boosted its stake in Apple by 940.8% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 1,072 shares of the iPhone maker’s stock valued at $181,000 after purchasing an additional 969 shares during the period. Finally, Delphi Private Advisors LLC boosted its stake in Apple by 8,292.9% during the 4th quarter. Delphi Private Advisors LLC now owns 1,175 shares of the iPhone maker’s stock valued at $199,000 after purchasing an additional 1,161 shares during the period. 58.61% of the stock is currently owned by institutional investors.
Apple stock opened at $219.70 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.31 and a debt-to-equity ratio of 0.84. The company has a market cap of $1,062.46 billion, a P/E ratio of 23.85, a P/E/G ratio of 1.68 and a beta of 1.16. Apple Inc. has a one year low of $149.16 and a one year high of $220.54.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 16th. Investors of record on Monday, August 13th were given a dividend of $0.73 per share. The ex-dividend date was Friday, August 10th. This represents a $2.92 annualized dividend and a dividend yield of 1.33%. Apple’s dividend payout ratio (DPR) is presently 31.70%.
Apple declared that its board has approved a stock buyback program on Tuesday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 11.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
Several brokerages recently weighed in on AAPL. Loop Capital increased their target price on Apple from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, July 6th. Needham & Company LLC increased their target price on Apple from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. BidaskClub downgraded Apple from a “buy” rating to a “hold” rating in a research note on Wednesday, May 23rd. DZ Bank restated a “buy” rating on shares of Apple in a research note on Wednesday, August 1st. Finally, Sanford C. Bernstein set a $190.00 target price on Apple and gave the company a “neutral” rating in a research note on Monday, July 16th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $219.97.
In related news, CEO Timothy D. Cook sold 265,160 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $217.79, for a total transaction of $57,749,196.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Luca Maestri sold 4,769 shares of the firm’s stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $189.54, for a total value of $903,916.26. Following the transaction, the insider now owns 68,044 shares of the company’s stock, valued at approximately $12,897,059.76. The disclosure for this sale can be found here. Insiders have sold a total of 405,390 shares of company stock valued at $86,185,558 in the last 90 days. 0.06% of the stock is owned by corporate insiders.
Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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