Aletheian Wealth Advisors LLC Decreases Position in Apple Inc. (NASDAQ:AAPL)

Aletheian Wealth Advisors LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,036 shares of the iPhone maker’s stock after selling 402 shares during the quarter. Apple makes up 2.0% of Aletheian Wealth Advisors LLC’s holdings, making the stock its 10th biggest holding. Aletheian Wealth Advisors LLC’s holdings in Apple were worth $3,503,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in AAPL. High Net Worth Advisory Group LLC lifted its holdings in Apple by 1.7% in the third 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 boosted its holdings 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 grew its position in Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after purchasing an additional 126,210 shares in the last quarter. Sterling Investment Counsel LLC increased its stake in Apple by 3.8% in the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after buying an additional 2,565 shares during the last quarter. Finally, EP Wealth Advisors LLC boosted its stake in 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 acquiring an additional 95,235 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Price Performance

Shares of Apple stock opened at $252.20 on Tuesday. The stock’s fifty day moving average is $237.41 and its 200 day moving average is $227.89. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a market cap of $3.81 trillion, a P/E ratio of 41.48, a P/E/G ratio of 2.41 and a beta of 1.23. Apple Inc. has a one year low of $164.07 and a one year high of $260.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results 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 company 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%. Apple’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.46 earnings per share. Sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued 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 0.40%. Apple’s payout ratio is 16.45%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Morgan Stanley reiterated an “overweight” rating and set a $273.00 price objective on shares of Apple in a research note on Friday, December 13th. Loop Capital reduced their target price on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Moffett Nathanson dropped their price objective on Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a research note on Tuesday, November 19th. 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. Finally, UBS Group reissued a “neutral” rating and set a $236.00 price target on shares of Apple in a research report on Monday, December 2nd. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $237.47.

Insiders Place Their Bets

In related news, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 508,170 shares of company stock worth $117,004,745. 0.06% of the stock is currently owned by company 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.