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

ZRC Wealth Management LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,541 shares of the iPhone maker’s stock after selling 232 shares during the quarter. Apple makes up about 3.2% of ZRC Wealth Management LLC’s investment portfolio, making the stock its 8th biggest position. ZRC Wealth Management LLC’s holdings in Apple were worth $7,349,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Quent Capital LLC grew its stake in shares of Apple by 6.6% during the third quarter. Quent Capital LLC now owns 137,845 shares of the iPhone maker’s stock valued at $32,042,000 after purchasing an additional 8,483 shares during the last quarter. Arkansas Financial Group Inc. raised its holdings in Apple by 46.8% in the third quarter. Arkansas Financial Group Inc. now owns 6,863 shares of the iPhone maker’s stock worth $1,599,000 after purchasing an additional 2,187 shares during the period. Curated Wealth Partners LLC raised its holdings in shares of Apple by 5.8% during the third quarter. Curated Wealth Partners LLC now owns 53,013 shares of the iPhone maker’s stock worth $12,352,000 after acquiring an additional 2,913 shares during the period. Gainplan LLC raised its holdings in shares of Apple by 483.3% during the third quarter. Gainplan LLC now owns 8,049 shares of the iPhone maker’s stock worth $1,875,000 after acquiring an additional 6,669 shares during the period. Finally, Eclectic Associates Inc. ADV raised its holdings in shares of Apple by 1.5% during the third quarter. Eclectic Associates Inc. ADV now owns 30,629 shares of the iPhone maker’s stock worth $7,137,000 after acquiring an additional 460 shares during the period. 60.41% of the stock is owned by institutional investors.

Apple Stock Performance

Shares of AAPL stock opened at $228.44 on Friday. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The company’s 50-day moving average is $227.59 and its 200 day moving average is $217.47. The company has a market capitalization of $3.45 trillion, a price-to-earnings ratio of 37.57, a price-to-earnings-growth ratio of 2.24 and a beta of 1.24. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

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

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Insider Buying and Selling at Apple

In related news, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the sale, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 408,170 shares of company stock worth $92,007,745. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 target price on shares of Apple in a research report on Friday, November 1st. Barclays decreased their price objective on shares of Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, November 1st. Rosenblatt Securities lifted their price objective on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Bank of America reissued a “buy” rating and issued a $256.00 price objective on shares of Apple in a research report on Thursday, October 3rd. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $235.25.

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.