Apple Inc. (NASDAQ:AAPL) Shares Sold by Litman Gregory Wealth Management LLC

Litman Gregory Wealth Management LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 6.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 139,290 shares of the iPhone maker’s stock after selling 8,908 shares during the period. Apple accounts for approximately 2.6% of Litman Gregory Wealth Management LLC’s portfolio, making the stock its 9th biggest holding. Litman Gregory Wealth Management LLC’s holdings in Apple were worth $29,337,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Yeomans Consulting Group Inc. acquired a new stake in Apple during the fourth quarter valued at approximately $1,713,000. Raleigh Capital Management Inc. increased its holdings in shares of Apple by 11.8% in the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after buying an additional 1,643 shares in the last quarter. GLOBALT Investments LLC GA acquired a new stake in shares of Apple during the 4th quarter valued at $38,406,000. Barden Capital Management Inc. boosted its stake in shares of Apple by 132.8% during the 4th quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after acquiring an additional 18,615 shares in the last quarter. Finally, Sunpointe LLC bought a new stake in shares of Apple during the 4th quarter worth $4,782,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Up 1.7 %

Shares of AAPL stock opened at $229.54 on Thursday. Apple Inc. has a 12 month low of $164.07 and a 12 month 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 firm has a market cap of $3.52 trillion, a PE ratio of 35.70, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24. The stock has a 50 day moving average of $223.10 and a 200-day moving average of $204.97.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating the consensus estimate of $1.34 by $0.06. The firm had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.26 EPS. On average, equities analysts predict that Apple Inc. will post 6.7 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s payout ratio is presently 15.55%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. KeyCorp reaffirmed a “hold” rating and set a $247.61 target price on shares of Apple in a report on Wednesday, August 28th. Robert W. Baird upped their price objective on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Barclays reissued an “underweight” rating and issued a $186.00 target price on shares of Apple in a research report on Tuesday, October 1st. Needham & Company LLC restated a “buy” rating and issued a $260.00 price target on shares of Apple in a research report on Thursday, September 19th. Finally, The Goldman Sachs Group lifted their price objective on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $239.27.

Insider Buying and Selling

In other Apple news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Katherine L. Adams sold 100,000 shares of Apple 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 sale, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 517,924 shares of company stock valued at $114,786,399 over the last three months. 0.06% of the stock is owned by corporate 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.