Apple Inc. (NASDAQ:AAPL) Shares Sold by Long Run Wealth Advisors LLC

Long Run Wealth Advisors LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 6.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,957 shares of the iPhone maker’s stock after selling 2,306 shares during the period. Apple accounts for about 1.7% of Long Run Wealth Advisors LLC’s holdings, making the stock its 14th biggest holding. Long Run Wealth Advisors LLC’s holdings in Apple were worth $7,213,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Lantz Financial LLC boosted its position in shares of Apple by 8.6% in the 2nd quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker’s stock valued at $6,266,000 after purchasing an additional 2,361 shares during the period. 180 Wealth Advisors LLC grew its position in shares of Apple by 0.4% during the second quarter. 180 Wealth Advisors LLC now owns 107,737 shares of the iPhone maker’s stock worth $24,518,000 after acquiring an additional 452 shares during the last quarter. Salvus Wealth Management LLC increased its holdings in shares of Apple by 15.1% in the 2nd quarter. Salvus Wealth Management LLC now owns 23,938 shares of the iPhone maker’s stock valued at $5,042,000 after acquiring an additional 3,137 shares during the period. Capital Wealth Management LLC raised its position in Apple by 96.9% in the 2nd quarter. Capital Wealth Management LLC now owns 2,894 shares of the iPhone maker’s stock valued at $610,000 after purchasing an additional 1,424 shares during the last quarter. Finally, Breed s Hill Capital LLC boosted its stake in Apple by 1.0% during the 2nd quarter. Breed s Hill Capital LLC now owns 26,540 shares of the iPhone maker’s stock worth $5,590,000 after purchasing an additional 270 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AAPL shares. Citigroup raised their price target on Apple to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wedbush lifted their target price on Apple from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, December 26th. Needham & Company LLC restated a “buy” rating and set a $260.00 price target on shares of Apple in a research note on Tuesday, December 10th. Loop Capital lowered their price objective on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Morgan Stanley restated an “overweight” rating and set a $273.00 price objective on shares of Apple in a research report on Friday, December 13th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $237.64.

Apple Trading Up 0.2 %

Shares of AAPL stock opened at $242.70 on Friday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The company’s fifty day simple moving average is $239.91 and its two-hundred day simple moving average is $229.75. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market capitalization of $3.67 trillion, a price-to-earnings ratio of 39.92, a PEG ratio of 2.41 and a beta of 1.20.

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

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Insider Transactions 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 stock was sold at an average price of $228.87, for a total transaction 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 trade represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. The trade was 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 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.