Revolve Wealth Partners LLC Cuts Stock Position in Apple Inc. (NASDAQ:AAPL)

Revolve Wealth Partners LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,046 shares of the iPhone maker’s stock after selling 2,039 shares during the period. Apple comprises approximately 2.0% of Revolve Wealth Partners LLC’s investment portfolio, making the stock its 14th largest holding. Revolve Wealth Partners LLC’s holdings in Apple were worth $12,436,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Apple by 1.4% in the fourth 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 period. Norges Bank purchased a new position in Apple in the 4th quarter valued at about $33,912,466,000. Wellington Management Group LLP lifted its stake in Apple by 3.6% in the 4th quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock valued at $11,677,190,000 after buying an additional 2,096,360 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Apple by 2.0% in the 4th quarter. Fisher Asset Management LLC now owns 54,702,300 shares of the iPhone maker’s stock worth $10,531,834,000 after buying an additional 1,067,587 shares during the last quarter. Finally, Capital International Investors increased its stake in Apple by 7.1% during the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after buying an additional 2,474,887 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at $3,469,275. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction 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 completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The transaction was disclosed in a document filed 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 dated 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 in the company, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Insiders have sold a total of 113,884 shares of company stock worth $23,723,887 in the last ninety days. 0.06% of the stock is owned by corporate insiders.

Apple Trading Up 0.2 %

AAPL opened at $216.79 on Wednesday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.23. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The business has a fifty day simple moving average of $222.67 and a 200-day simple moving average of $199.26. The firm has a market cap of $3.32 trillion, a P/E ratio of 33.72, a P/E/G ratio of 2.62 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS 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%. Apple’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the business posted $1.26 EPS. On average, equities analysts expect that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.46%. The ex-dividend date was Monday, August 12th. Apple’s payout ratio is currently 15.55%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AAPL. Robert W. Baird lifted their price target on Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. The Goldman Sachs Group lifted their target price 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. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Erste Group Bank raised shares of Apple from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Finally, Moffett Nathanson started coverage on shares of Apple in a research note on Monday, August 19th. They set a “neutral” rating and a $211.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $239.17.

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.