Apple Inc. (NASDAQ:AAPL) is Taylor & Morgan Wealth Management LLC’s 5th Largest Position

Taylor & Morgan Wealth Management LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,592 shares of the iPhone maker’s stock after selling 907 shares during the quarter. Apple comprises about 4.8% of Taylor & Morgan Wealth Management LLC’s holdings, making the stock its 5th largest position. Taylor & Morgan Wealth Management LLC’s holdings in Apple were worth $7,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in AAPL. High Net Worth Advisory Group LLC raised its holdings in shares of Apple by 1.7% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after buying an additional 1,066 shares during the period. Granite Investment Partners LLC lifted 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 worth $60,958,000 after purchasing an additional 7,606 shares during the last quarter. Truist Financial Corp lifted its holdings in Apple by 1.8% in the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after acquiring an additional 126,210 shares during the last quarter. Sterling Investment Counsel LLC increased its position in Apple by 3.8% in the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after buying an additional 2,565 shares during the period. Finally, EP Wealth Advisors LLC increased its stake in shares of Apple by 5.2% in the second 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 during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Price Performance

Shares of AAPL stock opened at $255.59 on Friday. The firm’s 50 day moving average is $237.41 and its 200-day moving average is $227.79. The firm has a market capitalization of $3.86 trillion, a price-to-earnings ratio of 42.04, a PEG ratio of 2.41 and a beta of 1.23. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping 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 firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the previous year, the business earned $1.46 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Sell-side analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.39%. Apple’s payout ratio is 16.45%.

Insider Activity at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the firm’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 in the company, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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. The trade was a 24.60 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 508,170 shares of company stock valued at $117,004,745. 0.06% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AAPL. Piper Sandler reiterated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. Wells Fargo & Company increased their price objective on Apple to $275.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Oppenheimer reaffirmed a “buy” rating and issued a $250.00 target price on shares of Apple in a research report on Tuesday, October 1st. KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price on the stock. in a research report on Friday, October 25th. Finally, Maxim Group raised their target price 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 equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.