Apple Inc. (NASDAQ:AAPL) is Twin Peaks Wealth Advisors LLC’s Largest Position

Twin Peaks Wealth Advisors LLC trimmed its position in Apple Inc. (NASDAQ:AAPL) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 59,462 shares of the iPhone maker’s stock after selling 1,888 shares during the period. Apple comprises about 6.4% of Twin Peaks Wealth Advisors LLC’s portfolio, making the stock its largest holding. Twin Peaks Wealth Advisors LLC’s holdings in Apple were worth $13,855,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Carolina Wealth Advisors LLC boosted its holdings in shares of Apple by 1.3% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after buying an additional 46 shares in the last quarter. Verus Financial Partners Inc. increased its stake in Apple by 0.3% in the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after buying an additional 48 shares during the period. Brown Financial Advisory raised its holdings in Apple by 3.8% during the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after purchasing an additional 50 shares in the last quarter. Core Wealth Management Inc. boosted its stake in shares of Apple by 1.7% in the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after buying an additional 50 shares in the last quarter. Finally, Lowery Thomas LLC increased its holdings in shares of Apple by 0.7% in the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock valued at $1,602,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Down 0.7 %

AAPL stock opened at $250.42 on Wednesday. The firm’s 50-day moving average is $238.02 and its two-hundred day moving average is $228.43. The company has a market capitalization of $3.79 trillion, a price-to-earnings ratio of 41.19, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. Apple Inc. has a 52 week low of $164.07 and a 52 week 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 issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating 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 return on equity of 152.94% and a net margin of 23.97%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the firm earned $1.46 EPS. On average, analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is 16.45%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AAPL. UBS Group restated a “neutral” rating and issued a $236.00 price target on shares of Apple in a research report on Monday, December 2nd. Evercore ISI reissued a “buy” rating and issued a $250.00 target price on shares of Apple in a research report on Thursday, September 26th. KeyCorp lowered Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective on the stock. in a research note on Friday, October 25th. New Street Research reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, September 25th. Finally, Citigroup boosted their price objective on shares of Apple to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $237.47.

Insider Activity

In related news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. This represents a 35.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 163,435 shares of company stock worth $39,376,002. Corporate insiders own 0.06% of the company’s stock.

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.