Opal Wealth Advisors LLC Sells 814 Shares of Apple Inc. (NASDAQ:AAPL)

Opal Wealth Advisors LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,431 shares of the iPhone maker’s stock after selling 814 shares during the quarter. Apple accounts for approximately 1.7% of Opal Wealth Advisors LLC’s investment portfolio, making the stock its 13th largest holding. Opal Wealth Advisors LLC’s holdings in Apple were worth $5,047,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Apple during the fourth quarter worth about $33,912,466,000. International Assets Investment Management LLC grew its stake in shares of Apple by 14,395.4% during the fourth quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock worth $136,119,470,000 after acquiring an additional 70,212,651 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Apple by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock worth $253,766,929,000 after acquiring an additional 18,067,216 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Apple by 130.1% during the fourth quarter. Cerity Partners LLC now owns 9,430,190 shares of the iPhone maker’s stock worth $1,815,594,000 after acquiring an additional 5,331,439 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Apple during the fourth quarter worth about $560,388,000. 60.41% of the stock is currently owned by institutional investors.

Apple Price Performance

Shares of NASDAQ AAPL opened at $214.10 on Friday. The stock’s 50-day simple moving average is $190.27 and its 200-day simple moving average is $185.14. The firm has a market capitalization of $3.28 trillion, a PE ratio of 33.30, a price-to-earnings-growth ratio of 2.54 and a beta of 1.25. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $220.20.

Apple (NASDAQ:AAPL) last announced its earnings results 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 company had revenue of $90.75 billion for 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 company’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the business posted $1.52 EPS. As a group, equities research analysts forecast that Apple Inc. will post 6.58 EPS for the current fiscal year.

Apple announced that its Board of Directors has authorized a stock buyback program on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.47%. This is a boost from Apple’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, May 10th. Apple’s payout ratio is 15.55%.

Insider Transactions at Apple

In other news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the sale, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the sale, the director now directly owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. Insiders sold a total of 346,270 shares of company stock valued at $60,880,196 over the last three months. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Monness Crespi & Hardt reiterated a “buy” rating and issued a $205.00 target price on shares of Apple in a research report on Thursday, June 6th. Rosenblatt Securities upgraded Apple from a “neutral” rating to a “buy” rating and upped their target price for the company from $196.00 to $260.00 in a research report on Wednesday. Tigress Financial upped their target price on Apple from $240.00 to $245.00 and gave the company a “strong-buy” rating in a research report on Thursday, May 30th. Canaccord Genuity Group upped their target price on Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Saturday, May 4th. Finally, Barclays reiterated an “underweight” rating and issued a $164.00 target price on shares of Apple in a research report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $214.29.

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.