Pursue Wealth Partners LLC Sells 1,307 Shares of Apple Inc. (NASDAQ:AAPL)

Pursue Wealth Partners LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 6.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,814 shares of the iPhone maker’s stock after selling 1,307 shares during the period. Apple comprises approximately 2.5% of Pursue Wealth Partners LLC’s holdings, making the stock its 10th largest holding. Pursue Wealth Partners LLC’s holdings in Apple were worth $4,179,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Burkett Financial Services LLC grew its stake in Apple by 0.6% during the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock worth $3,199,000 after buying an additional 93 shares during the last quarter. Avid Wealth Partners LLC grew its stake in Apple by 28.3% during the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock worth $935,000 after buying an additional 930 shares during the last quarter. OneAscent Wealth Management LLC grew its stake in Apple by 4.6% during the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock worth $2,337,000 after buying an additional 409 shares during the last quarter. TruWealth Advisors LLC grew its stake in Apple by 2.8% during the 1st quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker’s stock worth $42,045,000 after buying an additional 5,120 shares during the last quarter. Finally, Allstate Corp grew its stake in Apple by 3,368.2% during the 4th quarter. Allstate Corp now owns 451,489 shares of the iPhone maker’s stock worth $113,062,000 after buying an additional 438,471 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insider Activity at Apple

In other news, insider Chris Kondo sold 4,486 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the sale, the insider directly owned 15,533 shares of the company’s stock, valued at $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of recent research reports. Wedbush restated an “outperform” rating and set a $270.00 price objective on shares of Apple in a research note on Wednesday. Scotiabank downgraded Apple to a “market perform” rating in a research note on Friday, May 2nd. The Goldman Sachs Group reissued a “buy” rating on shares of Apple in a research note on Wednesday, May 21st. Bank of America increased their price target on Apple from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Citigroup increased their price target on Apple from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $237.25.

Apple Trading Down 2.5%

Shares of NASDAQ AAPL opened at $202.38 on Friday. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company has a market cap of $3.02 trillion, a price-to-earnings ratio of 30.71, a P/E/G ratio of 2.28 and a beta of 1.20. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. The business has a fifty day simple moving average of $205.37 and a 200-day simple moving average of $213.77.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 172.48% and a net margin of 24.30%. The business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same period in the prior year, the business posted $1.40 earnings per share. Apple’s revenue was up 9.6% compared to the same quarter last year. Sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its Board of Directors has approved a stock repurchase plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, August 11th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, August 11th. Apple’s dividend payout ratio is currently 15.78%.

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.