Apple Inc. (NASDAQ:AAPL) Stock Holdings Trimmed by Westwood Wealth Management

Westwood Wealth Management decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 18.8% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 132,226 shares of the iPhone maker’s stock after selling 30,522 shares during the period. Apple makes up about 10.4% of Westwood Wealth Management’s holdings, making the stock its 2nd biggest holding. Westwood Wealth Management’s holdings in Apple were worth $27,849,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AAPL. Fidelis Capital Partners LLC increased its holdings in Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 31,278 shares during the period. Access Investment Management LLC bought a new stake in shares of Apple during the 1st quarter valued at $140,000. Hoese & Co LLP grew its holdings in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the period. Sage Financial Group Inc. bought a new position in Apple during the 2nd quarter valued at approximately $206,000. Finally, Benchmark Wealth Management LLC bought a new position in shares of Apple during the second quarter valued at $208,000. 60.41% of the stock is owned by institutional investors.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $224.23 on Tuesday. The company has a market capitalization of $3.39 trillion, a price-to-earnings ratio of 36.88, a price-to-earnings-growth ratio of 2.22 and a beta of 1.24. The firm has a 50 day moving average of $226.82 and a 200 day moving average of $214.68. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

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

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Friday, November 8th. Apple’s dividend payout ratio (DPR) is 16.45%.

Analysts Set New Price Targets

AAPL has been the subject of a number of recent analyst reports. Oppenheimer restated a “buy” rating and issued a $250.00 price objective on shares of Apple in a report on Tuesday, October 1st. Wedbush restated an “outperform” rating and set a $285.00 target price on shares of Apple in a research note on Monday, September 9th. UBS Group reaffirmed a “hold” rating and issued a $236.00 price objective on shares of Apple in a research note on Wednesday, October 16th. New Street Research reiterated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, September 25th. Finally, Cfra upped their price target on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $235.51.

Insider Activity

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other 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 sale, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 412,746 shares of company stock worth $93,021,362 over the last three months. 0.06% of the stock is currently owned by corporate insiders.

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.