Choice Wealth Advisors LLC Has $7.93 Million Stake in Apple Inc. (NASDAQ:AAPL)

Choice Wealth Advisors LLC lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 6.8% during the third quarter, HoldingsChannel reports. The firm owned 34,050 shares of the iPhone maker’s stock after selling 2,491 shares during the quarter. Apple comprises 4.0% of Choice Wealth Advisors LLC’s holdings, making the stock its 11th largest holding. Choice Wealth Advisors LLC’s holdings in Apple were worth $7,934,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Fidelis Capital Partners LLC raised its position 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 buying an additional 31,278 shares during the last quarter. Hershey Financial Advisers LLC acquired a new stake in shares of Apple in the second quarter valued at approximately $42,000. Access Investment Management LLC bought a new stake in shares of Apple in the first quarter worth $140,000. Hoese & Co LLP boosted its holdings in Apple by 6.7% during 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 last quarter. Finally, Sage Financial Group Inc. bought a new position in Apple in the second quarter valued at $206,000. Institutional investors own 60.41% of the company’s stock.

Apple Price Performance

AAPL stock opened at $229.87 on Friday. The company’s 50-day moving average price is $227.73 and its two-hundred day moving average price is $217.81. Apple Inc. has a 12 month low of $164.07 and a 12 month 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. The firm has a market cap of $3.47 trillion, a P/E ratio of 37.81, a P/E/G ratio of 2.24 and a beta of 1.24.

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

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders 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 was Friday, November 8th. Apple’s dividend payout ratio is presently 16.45%.

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 6.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the sale, the senior vice president now owns 187,043 shares in the company, valued at approximately $42,309,126.60. This trade represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AAPL. Raymond James increased their price objective on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Oppenheimer restated a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Tuesday, October 1st. Citigroup boosted their price target on Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $265.00 price objective on shares of Apple in a report on Tuesday, September 10th. Finally, The Goldman Sachs Group boosted their target price on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $235.25.

Apple 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.