Apple Inc. (NASDAQ:AAPL) Holdings Lessened by Baker Tilly Wealth Management LLC

Baker Tilly Wealth Management LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 38.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 24,599 shares of the iPhone maker’s stock after selling 15,477 shares during the quarter. Apple accounts for 2.5% of Baker Tilly Wealth Management LLC’s portfolio, making the stock its 6th largest position. Baker Tilly Wealth Management LLC’s holdings in Apple were worth $5,732,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AAPL. Bull Oak Capital LLC boosted its stake in shares of Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the period. Hershey Financial Advisers LLC purchased a new stake in Apple during the 2nd quarter worth approximately $42,000. Christopher J. Hasenberg Inc lifted its holdings in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares in the last quarter. Cordant Inc. boosted its position in Apple by 34.3% in the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after buying an additional 173 shares during the period. Finally, Sage Financial Group Inc. acquired a new position in shares of Apple in the second quarter worth $206,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Down 1.3 %

AAPL opened at $255.59 on Friday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The business has a 50 day moving average price of $237.41 and a two-hundred day moving average price of $227.65. 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 company has a market cap of $3.86 trillion, a PE ratio of 42.04, a P/E/G ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL) last released its earnings results 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 return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the previous year, the company posted $1.46 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Activity

In other news, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This trade represents a 10.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 508,170 shares of company stock valued at $117,004,745 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Piper Sandler reiterated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, October 9th. Loop Capital reduced their price target on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Needham & Company LLC reissued a “buy” rating and set a $260.00 price objective on shares of Apple in a research report on Tuesday, December 10th. UBS Group restated a “neutral” rating and set a $236.00 target price on shares of Apple in a research note on Monday, December 2nd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $273.00 price target on shares of Apple in a research note on Friday, December 13th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $237.47.

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.