One Plus One Wealth Management LLC Cuts Stake in Apple Inc. (NASDAQ:AAPL)

One Plus One Wealth Management LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,533 shares of the iPhone maker’s stock after selling 324 shares during the quarter. Apple comprises approximately 1.4% of One Plus One Wealth Management LLC’s holdings, making the stock its 23rd largest position. One Plus One Wealth Management LLC’s holdings in Apple were worth $2,492,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Lantz Financial LLC grew its holdings in shares of Apple by 6.3% in the first quarter. Lantz Financial LLC now owns 27,390 shares of the iPhone maker’s stock valued at $4,697,000 after purchasing an additional 1,615 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services grew its holdings in shares of Apple by 2.1% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 73,725 shares of the iPhone maker’s stock valued at $12,642,000 after purchasing an additional 1,512 shares in the last quarter. Wedmont Private Capital grew its holdings in shares of Apple by 0.6% in the first quarter. Wedmont Private Capital now owns 194,179 shares of the iPhone maker’s stock valued at $32,946,000 after purchasing an additional 1,179 shares in the last quarter. St. Louis Financial Planners Asset Management LLC grew its holdings in shares of Apple by 10.1% in the first quarter. St. Louis Financial Planners Asset Management LLC now owns 11,857 shares of the iPhone maker’s stock valued at $2,012,000 after purchasing an additional 1,089 shares in the last quarter. Finally, Fulton Bank N.A. grew its holdings in shares of Apple by 1.1% in the first quarter. Fulton Bank N.A. now owns 287,242 shares of the iPhone maker’s stock valued at $49,256,000 after purchasing an additional 3,118 shares in the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 54,732 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the transaction, the senior vice president now directly owns 136,572 shares in the company, valued at $23,068,376.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Apple news, SVP Deirdre O’brien sold 54,732 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the transaction, the senior vice president now directly owns 136,572 shares in the company, valued at $23,068,376.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was 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 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. Over the last ninety days, insiders sold 346,270 shares of company stock worth $60,880,196. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Loop Capital cut their target price on shares of Apple from $185.00 to $170.00 and set a “hold” rating for the company in a report on Monday, April 1st. Rosenblatt Securities reissued a “neutral” rating and issued a $196.00 target price on shares of Apple in a report on Tuesday, June 11th. Itau BBA Securities raised shares of Apple from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from $162.00 to $188.00 in a research note on Friday, May 3rd. Maxim Group started coverage on shares of Apple in a research note on Wednesday, April 17th. They set a “hold” rating and a $178.00 price objective for the company. Finally, Bank of America reaffirmed a “buy” rating and set a $230.00 price objective on shares of Apple in a research note on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $209.38.

Apple Stock Performance

AAPL stock opened at $207.49 on Monday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. The business has a 50-day moving average price of $187.87 and a 200 day moving average price of $184.75. The company has a market capitalization of $3.18 trillion, a P/E ratio of 32.27, a PEG ratio of 2.55 and a beta of 1.25. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $220.20.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. The firm had revenue of $90.75 billion during 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 firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 earnings per share. As a group, equities research analysts forecast that Apple Inc. will post 6.58 EPS for the current fiscal year.

Apple declared that its Board of Directors has approved a share buyback program on Thursday, May 2nd that permits the company to repurchase $110.00 billion in shares. This repurchase authorization permits the iPhone maker to purchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were issued a $0.25 dividend. The ex-dividend date was Friday, May 10th. This is an increase from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 0.48%. Apple’s payout ratio is currently 15.55%.

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.