Apple Inc. (NASDAQ:AAPL) Shares Sold by CFM Wealth Partners LLC

CFM Wealth Partners LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 0.5% during the second quarter, Holdings Channel.com reports. The firm owned 299,736 shares of the iPhone maker’s stock after selling 1,518 shares during the period. Apple makes up 11.6% of CFM Wealth Partners LLC’s holdings, making the stock its 2nd biggest holding. CFM Wealth Partners LLC’s holdings in Apple were worth $63,130,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AAPL. Vanguard Group Inc. increased its holdings in Apple by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after purchasing an additional 18,067,216 shares during the last quarter. Norges Bank purchased a new position in shares of Apple during the fourth quarter worth $33,912,466,000. Wellington Management Group LLP boosted its position in shares of Apple by 3.6% during the fourth quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock worth $11,677,190,000 after buying an additional 2,096,360 shares during the period. Fisher Asset Management LLC grew its stake in shares of Apple by 2.0% in the fourth quarter. Fisher Asset Management LLC now owns 54,702,300 shares of the iPhone maker’s stock valued at $10,531,834,000 after buying an additional 1,067,587 shares in the last quarter. Finally, Capital International Investors raised its holdings in shares of Apple by 7.1% in the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after buying an additional 2,474,887 shares during the period. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AAPL shares. KeyCorp restated a “hold” rating and set a $247.61 target price on shares of Apple in a report on Wednesday, August 28th. Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 price objective on shares of Apple in a research note on Monday, September 9th. Melius Research restated a “buy” rating and issued a $265.00 price objective on shares of Apple in a report on Tuesday, August 27th. Piper Sandler Companies reiterated a “neutral” rating and set a $225.00 target price (up from $190.00) on shares of Apple in a report on Tuesday, July 9th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $273.00 price target on shares of Apple in a research report on Tuesday. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $238.62.

Apple Stock Down 0.1 %

Apple stock opened at $222.50 on Friday. The company has a market capitalization of $3.38 trillion, a P/E ratio of 34.60, a PEG ratio of 2.62 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. The stock has a 50-day simple moving average of $223.14 and a 200-day simple moving average of $198.52.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The company had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.26 earnings per share. Equities research analysts expect that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s payout ratio is currently 15.55%.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is owned by company insiders.

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.