Apple Inc. (NASDAQ:AAPL) Position Cut by White Wing Wealth Management

White Wing Wealth Management lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.0% during the 3rd quarter, Holdings Channel reports. The fund owned 8,062 shares of the iPhone maker’s stock after selling 81 shares during the period. Apple makes up approximately 1.4% of White Wing Wealth Management’s portfolio, making the stock its 11th largest holding. White Wing Wealth Management’s holdings in Apple were worth $1,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in AAPL. Granite Investment Partners LLC boosted its stake in Apple by 2.7% during the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after buying an additional 7,606 shares in the last quarter. Truist Financial Corp lifted its holdings in Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after acquiring an additional 126,210 shares during the last quarter. EP Wealth Advisors LLC boosted its position in shares of Apple by 5.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock valued at $406,099,000 after purchasing an additional 95,235 shares in the last quarter. Bellwether Advisors LLC raised its holdings in shares of Apple by 387.3% in the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after purchasing an additional 19,352 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Apple by 34.9% during the third quarter. GAMMA Investing LLC now owns 200,214 shares of the iPhone maker’s stock valued at $46,650,000 after purchasing an additional 51,842 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on AAPL shares. New Street Research restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research report on Wednesday, September 25th. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 target price on shares of Apple in a report on Tuesday, September 10th. Evercore ISI reissued a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Thursday, September 26th. Finally, Maxim Group upped their price objective on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research note on Friday, November 1st. 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. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $235.25.

Apple Stock Performance

AAPL stock opened at $229.87 on Monday. 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 Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The company has a 50 day moving average price of $227.73 and a 200 day moving average price of $218.30.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations 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 period in the previous year, the business posted $1.46 EPS. Analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a dividend of $0.25 per share. 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 dividend payout ratio is presently 16.45%.

Insider Activity at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of Apple 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 owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction 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 sale, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is owned by insiders.

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.