Apple Inc. (NASDAQ:AAPL) Shares Sold by Wooster Corthell Wealth Management Inc.

Wooster Corthell Wealth Management Inc. lessened its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 4.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 13,582 shares of the iPhone maker’s stock after selling 559 shares during the period. Apple comprises approximately 0.6% of Wooster Corthell Wealth Management Inc.’s portfolio, making the stock its 21st largest position. Wooster Corthell Wealth Management Inc.’s holdings in Apple were worth $2,372,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Daniels&Tansey LLP raised its stake in Apple by 1.6% during the 4th quarter. Daniels&Tansey LLP now owns 3,858 shares of the iPhone maker’s stock worth $685,000 after acquiring an additional 60 shares in the last quarter. Donald L. Hagan LLC increased its stake in Apple by 0.3% in the first quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock valued at $3,181,000 after purchasing an additional 61 shares during the period. Goodwin Daniel L increased its stake in Apple by 0.5% in the first quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock valued at $2,230,000 after purchasing an additional 62 shares during the period. Opus Capital Group LLC increased its stake in Apple by 0.3% in the first quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock valued at $3,332,000 after purchasing an additional 63 shares during the period. Finally, Norwood Financial Corp increased its stake in Apple by 0.9% in the first quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock valued at $1,227,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds own 57.98% of the company’s stock.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the transaction, the senior vice president now owns 452,334 shares of the company’s stock, valued at $73,151,454.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.06% of the company’s stock.

Apple Stock Down 0.6 %

Shares of NASDAQ AAPL opened at $161.51 on Tuesday. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94. The company has a market capitalization of $2.61 trillion, a PE ratio of 26.65, a price-to-earnings-growth ratio of 2.11 and a beta of 1.23. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. The firm’s 50-day moving average is $144.68 and its two-hundred day moving average is $157.12.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.06. The business had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.30 earnings per share. Equities analysts anticipate that Apple Inc. will post 6.08 EPS for the current fiscal year.

Apple declared that its Board of Directors has initiated a stock repurchase plan on Thursday, April 28th that permits the company to buyback $90.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Monday, August 8th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Friday, August 5th. Apple’s payout ratio is 15.18%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AAPL. Loop Capital dropped their price objective on shares of Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, May 25th. Credit Suisse Group set a $166.00 price objective on shares of Apple in a research note on Friday. Itau BBA Securities initiated coverage on shares of Apple in a research note on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target on the stock. KeyCorp dropped their price target on shares of Apple from $191.00 to $173.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 12th. Finally, Rosenblatt Securities dropped their price target on shares of Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $179.04.

Apple Company Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

Further Reading

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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