Apple Inc. (NASDAQ:AAPL) is Thrive Wealth Management LLC’s 6th Largest Position

Thrive Wealth Management LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 1.3% during the third quarter, HoldingsChannel reports. The firm owned 48,880 shares of the iPhone maker’s stock after selling 661 shares during the period. Apple comprises about 2.1% of Thrive Wealth Management LLC’s investment portfolio, making the stock its 6th biggest holding. Thrive Wealth Management LLC’s holdings in Apple were worth $11,389,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Fidelis Capital Partners LLC increased its stake in Apple by 17.9% in 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 in the last quarter. Hershey Financial Advisers LLC acquired a new position in Apple in the 2nd quarter valued at $42,000. Access Investment Management LLC purchased a new position in Apple during the first quarter worth about $140,000. Hoese & Co LLP boosted its holdings in shares of Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares during the last quarter. Finally, Sage Financial Group Inc. purchased a new position in shares of Apple in the 2nd quarter worth about $206,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Activity

In other news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 408,170 shares of company stock valued at $92,007,745. Insiders own 0.06% of the company’s stock.

Apple Trading Up 0.3 %

Shares of AAPL stock opened at $229.00 on Thursday. The firm has a market cap of $3.46 trillion, a P/E ratio of 37.66, a PEG ratio of 2.20 and a beta of 1.24. The company has a 50 day moving average of $227.47 and a 200-day moving average of $217.40. 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 Inc. has a 12-month low of $164.07 and a 12-month high of $237.49.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion during 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 company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.46 EPS. Sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is presently 16.45%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. KeyCorp lowered shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target for the company. in a report on Friday, October 25th. Piper Sandler restated a “neutral” rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, October 9th. Raymond James boosted their price target on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Citigroup raised their price objective on shares of Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $235.25.

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.