Paragon Wealth Strategies LLC Trims Stock Position in Apple Inc. (NASDAQ:AAPL)

Paragon Wealth Strategies LLC decreased its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 5.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,725 shares of the iPhone maker’s stock after selling 2,970 shares during the quarter. Apple accounts for 7.6% of Paragon Wealth Strategies LLC’s portfolio, making the stock its 7th biggest holding. Paragon Wealth Strategies LLC’s holdings in Apple were worth $6,798,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. BMS Financial Advisors LLC boosted its holdings in shares of Apple by 3.9% in the 2nd quarter. BMS Financial Advisors LLC now owns 5,749 shares of the iPhone maker’s stock worth $786,000 after purchasing an additional 214 shares during the period. Roberts Wealth Advisors LLC boosted its holdings in shares of Apple by 1.7% in the 2nd quarter. Roberts Wealth Advisors LLC now owns 83,788 shares of the iPhone maker’s stock worth $12,320,000 after purchasing an additional 1,380 shares during the period. Kennicott Capital Management LLC boosted its holdings in shares of Apple by 14.7% in the 2nd quarter. Kennicott Capital Management LLC now owns 12,394 shares of the iPhone maker’s stock worth $1,695,000 after purchasing an additional 1,584 shares during the period. TPG Financial Advisors LLC boosted its holdings in shares of Apple by 65.1% in the 2nd quarter. TPG Financial Advisors LLC now owns 21,275 shares of the iPhone maker’s stock worth $2,909,000 after purchasing an additional 8,387 shares during the period. Finally, Cooper Financial Group boosted its holdings in shares of Apple by 17.0% in the 2nd quarter. Cooper Financial Group now owns 134,038 shares of the iPhone maker’s stock worth $18,326,000 after purchasing an additional 19,457 shares during the period. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Apple Trading Down 0.6 %

Shares of NASDAQ:AAPL opened at $152.74 on Friday. The business’s 50-day moving average is $160.31 and its 200 day moving average is $155.83. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The firm has a market capitalization of $2.45 trillion, a P/E ratio of 25.20, a P/E/G ratio of 2.03 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.

Apple (NASDAQ:AAPLGet Rating) last announced its earnings results 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. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. During the same period in the prior year, the company posted $1.30 EPS. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, research analysts predict that Apple Inc. will post 6.11 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.60%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio is currently 15.18%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AAPL shares. Itaú Unibanco began coverage on Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price for the company. Deutsche Bank Aktiengesellschaft set a $175.00 price objective on Apple in a report on Monday, August 1st. Oppenheimer restated an “outperform” rating and set a $190.00 price objective on shares of Apple in a report on Wednesday, June 8th. Wells Fargo & Company dropped their price objective on Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Finally, KeyCorp boosted their price objective on Apple from $177.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, August 19th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.68.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the transaction, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Apple news, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the chief financial officer now owns 110,673 shares in the company, valued at approximately $19,362,241.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the sale, the senior vice president now owns 427,334 shares in the company, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

About Apple

(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.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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