Apple Inc. (NASDAQ:AAPL) Shares Sold by Parkside Advisors LLC

Parkside Advisors LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,632 shares of the iPhone maker’s stock after selling 933 shares during the quarter. Apple comprises about 1.9% of Parkside Advisors LLC’s holdings, making the stock its 15th biggest holding. Parkside Advisors LLC’s holdings in Apple were worth $7,482,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AAPL. Syon Capital LLC purchased a new stake in shares of Apple during the third quarter worth approximately $17,981,000. Main Street Research LLC increased its stake in shares of Apple by 22.3% during the third quarter. Main Street Research LLC now owns 330,777 shares of the iPhone maker’s stock worth $56,632,000 after buying an additional 60,400 shares during the period. Regent Peak Wealth Advisors LLC increased its stake in shares of Apple by 0.5% during the third quarter. Regent Peak Wealth Advisors LLC now owns 110,855 shares of the iPhone maker’s stock worth $18,979,000 after buying an additional 548 shares during the period. Alta Advisers Ltd increased its stake in shares of Apple by 1.3% during the third quarter. Alta Advisers Ltd now owns 40,500 shares of the iPhone maker’s stock worth $6,934,000 after buying an additional 500 shares during the period. Finally, Strategic Wealth Investment Group LLC increased its stake in Apple by 7.4% in the third quarter. Strategic Wealth Investment Group LLC now owns 167,322 shares of the iPhone maker’s stock valued at $28,647,000 after purchasing an additional 11,591 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AAPL. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 price target on shares of Apple in a research note on Tuesday, June 11th. Monness Crespi & Hardt reiterated a “buy” rating and issued a $205.00 price target on shares of Apple in a research note on Thursday, June 6th. UBS Group reiterated a “neutral” rating and issued a $190.00 price target on shares of Apple in a research note on Tuesday, June 11th. Canaccord Genuity Group increased their price target on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Saturday, May 4th. Finally, JPMorgan Chase & Co. increased their price target on shares of Apple from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $210.83.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the transaction, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 54,732 shares of Apple 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 disclosure for this sale can be found here. Insiders sold 346,270 shares of company stock worth $60,880,196 in the last 90 days. 0.06% of the stock is owned by company insiders.

Apple Trading Up 0.3 %

Apple stock opened at $208.14 on Tuesday. The stock has a market cap of $3.19 trillion, a PE ratio of 32.37, a P/E/G ratio of 2.55 and a beta of 1.25. The stock has a 50-day moving average price of $188.57 and a 200 day moving average price of $184.85. Apple Inc. has a 52 week low of $164.07 and a 52 week 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 posted its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, beating the consensus estimate of $1.51 by $0.02. The company had revenue of $90.75 billion during the quarter, compared to analysts’ expectations of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.52 EPS. Equities research analysts predict that Apple Inc. will post 6.58 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders 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 annualized dividend and a yield of 0.48%. Apple’s payout ratio is 15.55%.

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

Apple Company 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.