Moneywise Inc. Has $337,000 Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Moneywise Inc. cut its holdings in Apple Inc. (NASDAQ:AAPL) by 47.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,515 shares of the iPhone maker’s stock after selling 1,365 shares during the quarter. Moneywise Inc.’s holdings in Apple were worth $337,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Advanced Portfolio Management LLC raised its holdings in Apple by 0.3% in the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock valued at $3,260,000 after acquiring an additional 47 shares in the last quarter. Family Capital Management Inc. raised its holdings in Apple by 0.3% in the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker’s stock valued at $4,235,000 after acquiring an additional 48 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in Apple by 0.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker’s stock valued at $4,178,000 after acquiring an additional 48 shares in the last quarter. Scarborough Advisors LLC raised its holdings in Apple by 0.3% in the 4th quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker’s stock valued at $3,992,000 after acquiring an additional 51 shares in the last quarter. Finally, Disciplined Investments LLC raised its holdings in Apple by 0.7% in the 4th quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker’s stock valued at $1,794,000 after acquiring an additional 51 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several analyst reports. Barclays lifted their price objective on Apple from $173.00 to $180.00 and gave the company an “underweight” rating in a report on Friday. KeyCorp upgraded Apple from an “underweight” rating to a “sector weight” rating in a research note on Monday, April 14th. UBS Group lifted their price target on Apple from $210.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday. Scotiabank lowered Apple to a “market perform” rating in a research note on Friday, May 2nd. Finally, TD Cowen decreased their price target on Apple from $290.00 to $275.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $237.25.

Insider Activity at Apple

In other news, insider Chris Kondo sold 4,486 shares of the business’s stock in a transaction that occurred 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 owned 15,533 shares in the company, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Apple Trading Down 2.5%

Shares of AAPL stock opened at $202.38 on Monday. The company has a market cap of $3.02 trillion, a P/E ratio of 30.71, a PEG ratio of 2.20 and a beta of 1.16. The stock has a 50 day simple moving average of $205.37 and a two-hundred day simple moving average of $213.50. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.40 earnings per share. Research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. Apple’s payout ratio is currently 15.78%.

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

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.