Udine Wealth Management Inc. Has $18.63 Million Position in Apple Inc. (NASDAQ:AAPL)

Udine Wealth Management Inc. lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 79,938 shares of the iPhone maker’s stock after selling 2,181 shares during the quarter. Apple makes up approximately 13.1% of Udine Wealth Management Inc.’s holdings, making the stock its 2nd biggest holding. Udine Wealth Management Inc.’s holdings in Apple were worth $18,626,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hershey Financial Advisers LLC acquired a new stake in shares of Apple during the 2nd quarter worth approximately $42,000. Hoese & Co LLP boosted its stake in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares during the last quarter. Sage Financial Group Inc. acquired a new stake in Apple during the 2nd quarter worth $206,000. Benchmark Wealth Management LLC bought a new stake in shares of Apple during the 2nd quarter valued at $208,000. Finally, SMH Capital Advisors Inc. acquired a new position in shares of Apple in the 2nd quarter valued at $209,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the sale, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at $42,309,126.60. This represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock valued at $92,007,745 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AAPL shares. Oppenheimer reaffirmed a “buy” rating and set a $250.00 price objective on shares of Apple in a research note on Tuesday, October 1st. Moffett Nathanson lowered their price target on Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a research note on Tuesday, November 19th. The Goldman Sachs Group lifted their price objective on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. UBS Group upped their target price on shares of Apple to $236.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Finally, Loop Capital decreased their price target on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $235.25.

Apple Stock Performance

Shares of Apple stock opened at $232.87 on Tuesday. The firm has a market capitalization of $3.52 trillion, a P/E ratio of 38.30, a price-to-earnings-growth ratio of 2.25 and a beta of 1.24. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The business’s fifty day simple moving average is $228.06 and its 200 day simple moving average is $218.64. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same period in the previous year, the company posted $1.46 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. As a group, analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. Apple’s dividend payout ratio (DPR) is 16.45%.

About Apple

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.