Apple Inc. (NASDAQ:AAPL) Shares Sold by HFG Wealth Management LLC

HFG Wealth Management LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 90.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,604 shares of the iPhone maker’s stock after selling 86,296 shares during the period. Apple makes up 1.0% of HFG Wealth Management LLC’s investment portfolio, making the stock its 20th largest position. HFG Wealth Management LLC’s holdings in Apple were worth $1,647,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Flagstone Financial Management increased its stake in Apple by 0.9% during the fourth quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock valued at $1,173,000 after purchasing an additional 56 shares during the last quarter. Stableford Capital II LLC increased its stake in Apple by 0.3% during the first quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock valued at $2,942,000 after purchasing an additional 59 shares during the last quarter. Kwmg LLC increased its stake in Apple by 0.6% during the first quarter. Kwmg LLC now owns 10,640 shares of the iPhone maker’s stock valued at $1,825,000 after purchasing an additional 60 shares during the last quarter. Greylin Investment Management Inc increased its stake in Apple by 0.4% during the first quarter. Greylin Investment Management Inc now owns 16,711 shares of the iPhone maker’s stock valued at $2,866,000 after purchasing an additional 61 shares during the last quarter. Finally, Ruedi Wealth Management Inc. increased its stake in Apple by 0.3% during the first quarter. Ruedi Wealth Management Inc. now owns 20,036 shares of the iPhone maker’s stock valued at $3,436,000 after purchasing an additional 62 shares during the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AAPL has been the subject of several recent research reports. Melius Research boosted their target price on shares of Apple from $227.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Rosenblatt Securities boosted their price target on shares of Apple from $260.00 to $261.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Citigroup boosted their price target on shares of Apple from $210.00 to $255.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Moffett Nathanson initiated coverage on shares of Apple in a report on Monday, August 19th. They set a “neutral” rating and a $211.00 price target for the company. Finally, Cfra boosted their price target on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $233.63.

Insider Activity

In other news, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the transaction, the director now owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the transaction, the director now owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Insiders have sold 188,884 shares of company stock worth $38,092,387 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

NASDAQ AAPL opened at $226.84 on Friday. The stock’s 50-day moving average price is $220.32 and its two-hundred day moving average price is $194.44. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The company has a market cap of $3.48 trillion, a PE ratio of 35.28, a PEG ratio of 2.60 and a beta of 1.24. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. The firm had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. Apple had a return on equity of 145.35% and a net margin of 26.44%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.26 EPS. On average, analysts predict that Apple Inc. will post 6.61 EPS for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio is 15.55%.

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

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.