Apple Inc. (NASDAQ:AAPL) Stock Position Cut by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 0.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 172,638 shares of the iPhone maker’s stock after selling 832 shares during the quarter. Apple accounts for about 1.6% of Geneos Wealth Management Inc.’s holdings, making the stock its 5th biggest holding. Geneos Wealth Management Inc.’s holdings in Apple were worth $36,361,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AAPL. Norges Bank acquired a new stake in Apple in the fourth quarter valued at approximately $33,912,466,000. Vanguard Group Inc. lifted its position in shares of Apple by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock worth $253,766,929,000 after purchasing an additional 18,067,216 shares during the last quarter. Swedbank AB purchased a new position in Apple in the first quarter valued at $3,026,492,000. Global Assets Advisory LLC raised its stake in Apple by 23,076.4% in the first quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock valued at $1,584,512,000 after buying an additional 9,200,345 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Apple by 158.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock worth $1,977,582,000 after acquiring an additional 7,067,379 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AAPL shares. Loop Capital raised Apple from a “hold” rating to a “buy” rating and upped their price target for the company from $170.00 to $300.00 in a report on Monday, July 15th. Erste Group Bank raised shares of Apple from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. The Goldman Sachs Group raised their price objective on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. KeyCorp reissued a “hold” rating and issued a $247.61 target price on shares of Apple in a report on Wednesday, August 28th. Finally, TD Cowen raised their price target on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $238.76.

Apple Trading Down 0.4 %

Shares of AAPL opened at $226.37 on Thursday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.23. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $3.47 trillion, a P/E ratio of 35.21, a PEG ratio of 2.66 and a beta of 1.24. The firm’s 50-day moving average is $222.10 and its two-hundred day moving average is $201.22.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $85.78 billion for 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 company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.26 EPS. On average, research analysts predict that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio is currently 15.55%.

Insider Transactions at Apple

In other Apple news, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,469,275. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction 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 directly owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction dated 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 sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The disclosure for this sale can be found here. Insiders sold 113,884 shares of company stock valued at $23,723,887 in the last 90 days. 0.06% of the stock is currently owned by insiders.

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.