CVA Family Office LLC Sells 379 Shares of Apple Inc. (NASDAQ:AAPL)

CVA Family Office LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,055 shares of the iPhone maker’s stock after selling 379 shares during the quarter. Apple makes up 1.5% of CVA Family Office LLC’s portfolio, making the stock its 16th biggest position. CVA Family Office LLC’s holdings in Apple were worth $8,240,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wyrmwood Management LLC raised its holdings in shares of Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after acquiring an additional 69 shares in the last quarter. A.P. Gilfoyle & Co. L.P. bought a new position in shares of Apple during the fourth quarter valued at approximately $39,000. Gilfoyle & Co LLC raised its holdings in shares of Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after acquiring an additional 118 shares in the last quarter. University of Texas Texas AM Investment Managment Co. raised its holdings in shares of Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after acquiring an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. bought a new position in Apple in the fourth quarter worth $85,000. Institutional investors own 60.41% of the company’s stock.

Apple Trading Up 0.3 %

Apple stock opened at $208.14 on Tuesday. The business has a 50-day simple moving average of $188.57 and a two-hundred day simple moving average of $184.85. The company has a market cap of $3.19 trillion, a P/E ratio of 32.37, a P/E/G ratio of 2.55 and a beta of 1.25. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $220.20. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The firm had revenue of $90.75 billion for the quarter, compared to analysts’ expectations of $90.37 billion. During the same period in the previous year, the firm earned $1.52 EPS. The business’s quarterly revenue was down 4.3% on a year-over-year basis. Analysts predict that Apple Inc. will post 6.58 EPS for the current year.

Apple declared that its board has approved a share buyback program 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 programs are generally an indication that the company’s management believes its shares are undervalued.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were given a dividend of $0.25 per share. This is a boost from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Friday, May 10th. Apple’s payout ratio is presently 15.55%.

Insider Activity

In other news, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the transaction, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Timothy D. Cook sold 99,183 shares of the business’s stock in a transaction that occurred on 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 legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 54,732 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was 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 have sold a total of 346,270 shares of company stock valued at $60,880,196 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AAPL shares. JPMorgan Chase & Co. increased their price objective on Apple from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Canaccord Genuity Group increased their price objective on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Saturday, May 4th. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 price objective on shares of Apple in a report on Tuesday, June 11th. DZ Bank reiterated a “hold” rating and issued a $180.00 price objective on shares of Apple in a report on Thursday, March 28th. Finally, Monness Crespi & Hardt reiterated a “buy” rating and issued a $205.00 price objective on shares of Apple in a report on Thursday, June 6th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $210.83.

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.