Peninsula Wealth LLC Sells 9,324 Shares of Apple Inc. (NASDAQ:AAPL)

Peninsula Wealth LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 15.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,987 shares of the iPhone maker’s stock after selling 9,324 shares during the period. Apple makes up about 1.1% of Peninsula Wealth LLC’s portfolio, making the stock its 25th largest holding. Peninsula Wealth LLC’s holdings in Apple were worth $8,743,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc bought a new stake in Apple in the 1st quarter valued at about $35,000. Fidelis Capital Partners LLC boosted its holdings in Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 31,278 shares during the period. A.P. Gilfoyle & Co. L.P. bought a new stake in shares of Apple during the 4th quarter worth approximately $39,000. Gilfoyle & Co LLC lifted its holdings in shares of Apple by 168.0% during the 4th quarter. Gilfoyle & Co LLC now owns 268 shares of the iPhone maker’s stock worth $52,000 after acquiring an additional 168 shares during the period. Finally, University of Texas Texas AM Investment Managment Co. lifted its holdings in shares of Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after acquiring an additional 368 shares during the period. Institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling

In related news, Director Arthur D. Levinson sold 75,000 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the transaction, the director now directly owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the firm’s 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 transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the transaction, the director now directly owns 4,359,576 shares in the company, valued at $835,207,570.08. The disclosure for this sale can be found here. Insiders have sold a total of 188,884 shares of company stock valued at $38,092,387 over the last ninety days. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AAPL shares. Tigress Financial upped their price target on shares of Apple from $240.00 to $245.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 30th. Wedbush upped their price target on shares of Apple from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Oppenheimer upped their price target on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, June 28th. Canaccord Genuity Group upped their price target on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, Piper Sandler Companies reaffirmed a “neutral” rating and set a $225.00 price target (up previously from $190.00) on shares of Apple in a report on Tuesday, July 9th. One equities research 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $233.63.

Apple Trading Up 1.0 %

AAPL opened at $226.84 on Friday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.23. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The company has a fifty day moving average of $220.32 and a 200-day moving average of $194.40. The stock has a market cap of $3.48 trillion, a PE ratio of 35.28, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its 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. The business had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 145.35%. Apple’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.26 earnings per share. On average, sell-side analysts predict that Apple Inc. will post 6.61 EPS for the current year.

Apple declared that its board has authorized a share repurchase plan on Thursday, May 2nd that allows the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Apple Announces Dividend

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

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.