Opal Wealth Advisors LLC Reduces Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Opal Wealth Advisors LLC lowered its stake in Apple Inc. (NASDAQ:AAPL) by 2.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 29,431 shares of the iPhone maker’s stock after selling 814 shares during the quarter. Apple comprises about 1.7% of Opal Wealth Advisors LLC’s holdings, making the stock its 13th biggest position. Opal Wealth Advisors LLC’s holdings in Apple were worth $5,047,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Conservest Capital Advisors Inc. lifted its position in shares of Apple by 0.3% during the 3rd quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock valued at $2,877,000 after acquiring an additional 55 shares during the period. Flagstone Financial Management lifted its holdings in shares of Apple by 0.9% in the fourth quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock worth $1,173,000 after buying an additional 56 shares in the last quarter. High Pines Wealth Management LLC lifted its holdings in shares of Apple by 0.7% in the fourth quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock worth $1,638,000 after buying an additional 58 shares in the last quarter. Asset Planning Corporation lifted its holdings in shares of Apple by 1.0% in the fourth quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock worth $1,181,000 after buying an additional 59 shares in the last quarter. Finally, Columbus Macro LLC lifted its holdings in shares of Apple by 0.5% in the fourth quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock worth $2,120,000 after buying an additional 59 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Apple Stock Up 0.4 %

Shares of AAPL opened at $214.10 on Friday. The business’s 50 day moving average is $190.27 and its 200 day moving average is $185.14. The company has a market capitalization of $3.28 trillion, a PE ratio of 33.30, a price-to-earnings-growth ratio of 2.54 and a beta of 1.25. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $220.20. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The business had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The company’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.52 EPS. Research analysts expect that Apple Inc. will post 6.58 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were issued a $0.25 dividend. This is a boost from Apple’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.47%. Apple’s payout ratio is 15.55%.

Apple announced that its Board of Directors has authorized a share buyback plan on Thursday, May 2nd that permits the company to buyback $110.00 billion in shares. This buyback authorization permits the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AAPL shares. Bank of America reaffirmed a “buy” rating and issued a $230.00 target price on shares of Apple in a research note on Wednesday. Citigroup lowered their target price on shares of Apple from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $220.00 target price on shares of Apple in a research note on Tuesday, June 11th. JPMorgan Chase & Co. boosted their price objective on shares of Apple from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Finally, Monness Crespi & Hardt reiterated a “buy” rating and issued a $205.00 target price on shares of Apple in a research report on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $214.29.

Insider Activity at Apple

In related news, SVP Deirdre O’brien sold 54,732 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the transaction, the senior vice president now owns 136,572 shares in the company, valued at approximately $23,068,376.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Deirdre O’brien sold 54,732 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the transaction, the senior vice president now owns 136,572 shares in the company, valued at approximately $23,068,376.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the sale, the director now directly owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The disclosure for this sale can be found here. Insiders sold a total of 346,270 shares of company stock worth $60,880,196 in the last quarter. 0.06% of the stock is owned by company insiders.

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.