KWB Wealth Sells 1,326 Shares of Apple Inc. (NASDAQ:AAPL)

KWB Wealth lowered its position in Apple Inc. (NASDAQ:AAPL) by 7.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,506 shares of the iPhone maker’s stock after selling 1,326 shares during the period. KWB Wealth’s holdings in Apple were worth $3,846,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AAPL. China Universal Asset Management Co. Ltd. increased its holdings in shares of Apple by 127.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock valued at $12,943,000 after purchasing an additional 42,282 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Apple by 0.9% in the first quarter. Blue Trust Inc. now owns 128,418 shares of the iPhone maker’s stock valued at $22,021,000 after purchasing an additional 1,106 shares in the last quarter. Peterson Wealth Services increased its holdings in shares of Apple by 1.8% in the first quarter. Peterson Wealth Services now owns 96,257 shares of the iPhone maker’s stock valued at $16,506,000 after purchasing an additional 1,688 shares in the last quarter. Fairhaven Wealth Management LLC increased its holdings in shares of Apple by 17.9% in the first quarter. Fairhaven Wealth Management LLC now owns 79,503 shares of the iPhone maker’s stock valued at $13,633,000 after purchasing an additional 12,097 shares in the last quarter. Finally, KFA Private Wealth Group LLC increased its holdings in shares of Apple by 6.0% in the first quarter. KFA Private Wealth Group LLC now owns 29,304 shares of the iPhone maker’s stock valued at $5,025,000 after purchasing an additional 1,648 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Insider Activity

In other news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $111,148,695.84. The trade was a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Loop Capital lowered their price target on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, November 4th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $265.00 target price on shares of Apple in a report on Tuesday, September 10th. KeyCorp lowered shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price for the company. in a report on Friday, October 25th. Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 target price on shares of Apple in a report on Tuesday, September 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Apple in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $235.25.

Apple Trading Up 0.6 %

Shares of NASDAQ:AAPL 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. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The stock has a market capitalization of $3.47 trillion, a PE ratio of 37.81, a price-to-earnings-growth ratio of 2.24 and a beta of 1.24.

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

Apple Announces Dividend

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

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.