WFA Asset Management Corp trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 1.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 34,161 shares of the iPhone maker’s stock after selling 547 shares during the period. Apple makes up 4.3% of WFA Asset Management Corp’s investment portfolio, making the stock its 9th biggest position. WFA Asset Management Corp’s holdings in Apple were worth $7,959,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of AAPL. Lantz Financial LLC raised its stake in Apple by 8.6% during the 2nd quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker’s stock worth $6,266,000 after acquiring an additional 2,361 shares in the last quarter. SJS Investment Consulting Inc. boosted its position in shares of Apple by 1.6% in the 2nd quarter. SJS Investment Consulting Inc. now owns 58,341 shares of the iPhone maker’s stock valued at $12,288,000 after purchasing an additional 894 shares during the period. Great Valley Advisor Group Inc. grew its stake in Apple by 3.2% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 452,065 shares of the iPhone maker’s stock worth $95,214,000 after buying an additional 14,189 shares during the last quarter. Mainsail Financial Group LLC increased its position in Apple by 4.6% during the second quarter. Mainsail Financial Group LLC now owns 5,352 shares of the iPhone maker’s stock worth $1,127,000 after buying an additional 235 shares during the period. Finally, ORBA Wealth Advisors L.L.C. lifted its stake in Apple by 1.4% in the second quarter. ORBA Wealth Advisors L.L.C. now owns 72,264 shares of the iPhone maker’s stock valued at $15,220,000 after buying an additional 978 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts recently commented on AAPL shares. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $265.00 price target on shares of Apple in a research report on Tuesday, September 10th. Oppenheimer reiterated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. Morgan Stanley restated an “overweight” rating and set a $273.00 price target on shares of Apple in a research note on Friday, December 13th. Sanford C. Bernstein lifted their price objective on shares of Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $237.64.
Insider Activity
In other news, insider Chris Kondo sold 4,130 shares of the stock in a transaction on Monday, November 18th. The stock was 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 owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the transaction, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. This represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.
Apple Stock Down 1.1 %
Shares of NASDAQ:AAPL opened at $242.21 on Wednesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The stock has a 50-day simple moving average of $239.32 and a 200-day simple moving average of $229.57. The stock has a market capitalization of $3.66 trillion, a P/E ratio of 39.84, a PEG ratio of 2.41 and a beta of 1.20.
Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. Apple’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned $1.46 earnings per share. Equities analysts forecast that Apple Inc. will post 7.43 earnings per share for the current year.
Apple Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a $0.25 dividend. 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 0.41%. Apple’s dividend payout ratio (DPR) is 16.45%.
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.
Featured Stories
- Five stocks we like better than Apple
- What Are Dividend Achievers? An Introduction
- Disney: Forging a 3-Headed Sports Streaming Giant With Fubo Deal
- How to Invest in Biotech Stocks
- How Buffett’s Best and Worst Stock Bets Have Fared 5 Years Later
- What is Short Interest? How to Use It
- Bill Ackman’s Bold Case for Fannie Mae and Freddie Mac
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL – Free Report).
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.