Dominguez Wealth Management Solutions Inc. Reduces Holdings in Apple Inc. (NASDAQ:AAPL)

Dominguez Wealth Management Solutions Inc. reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 72,938 shares of the iPhone maker’s stock after selling 48 shares during the period. Apple comprises about 11.6% of Dominguez Wealth Management Solutions Inc.’s investment portfolio, making the stock its 2nd biggest position. Dominguez Wealth Management Solutions Inc.’s holdings in Apple were worth $15,362,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Flagstone Financial Management increased its stake in Apple by 0.9% in 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 in the last quarter. Hoese & Co LLP boosted its holdings in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 57 shares during the period. Stableford Capital II LLC boosted its holdings in shares of Apple by 0.3% in the first quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock valued at $2,942,000 after buying an additional 59 shares during the period. Kwmg LLC boosted its holdings in shares of Apple by 0.6% in the first quarter. Kwmg LLC now owns 10,640 shares of the iPhone maker’s stock valued at $1,825,000 after buying an additional 60 shares during the period. Finally, Greylin Investment Management Inc boosted its holdings in shares of Apple by 0.4% in the first quarter. Greylin Investment Management Inc now owns 16,711 shares of the iPhone maker’s stock valued at $2,866,000 after buying an additional 61 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Up 1.5 %

NASDAQ:AAPL opened at $229.79 on Friday. The firm’s 50 day simple moving average is $221.05 and its 200 day simple moving average is $195.24. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. Apple Inc. has a one year low of $164.07 and a one year high of $237.23. The company has a market cap of $3.52 trillion, a PE ratio of 35.74, a P/E/G ratio of 2.60 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings results 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. Apple had a net margin of 26.44% and a return on equity of 145.35%. The firm had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. During the same quarter last year, the business earned $1.26 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. On average, research analysts anticipate that Apple Inc. will post 6.61 earnings per share for the current year.

Apple Announces Dividend

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

Apple announced that its Board of Directors has approved a share buyback plan on Thursday, May 2nd that allows the company to buyback $110.00 billion in shares. This buyback authorization allows the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have recently weighed in on AAPL. Piper Sandler reiterated a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Tuesday. Cfra upped 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. Rosenblatt Securities upped 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. Sanford C. Bernstein upped their price target on shares of Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, June 21st. Finally, KeyCorp restated a “hold” rating and set a $247.61 target price on shares of Apple in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average target price of $237.30.

Insider Activity

In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction on 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 sale, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the sale, the insider now owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The disclosure for this sale can be found here. Insiders sold 113,884 shares of company stock worth $23,723,887 in the last quarter. 0.06% of the stock is owned by corporate 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.