Tanager Wealth Management LLP Sells 6,807 Shares of Apple Inc. (NASDAQ:AAPL)

Tanager Wealth Management LLP lessened its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 11.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 53,523 shares of the iPhone maker’s stock after selling 6,807 shares during the quarter. Apple accounts for approximately 6.0% of Tanager Wealth Management LLP’s investment portfolio, making the stock its 5th biggest position. Tanager Wealth Management LLP’s holdings in Apple were worth $7,318,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of AAPL. CFS Investment Advisory Services LLC lifted its stake in shares of Apple by 18,263.5% in the 1st quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock valued at $47,000 after acquiring an additional 7,416,445 shares during the last quarter. Spence Asset Management bought a new position in shares of Apple in the 2nd quarter valued at $49,000. HBC Financial Services PLLC lifted its stake in shares of Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after acquiring an additional 80 shares during the last quarter. Emerson Wealth LLC lifted its stake in shares of Apple by 363.6% in the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after acquiring an additional 320 shares during the last quarter. Finally, Econ Financial Services Corp lifted its stake in shares of Apple by 29.1% in the 1st quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock valued at $74,000 after acquiring an additional 95 shares during the last quarter. Institutional investors and hedge funds own 57.72% of the company’s stock.

Insider Buying and Selling at Apple

In other Apple news, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the completion of the transaction, the chief financial officer now owns 110,673 shares in the company, valued at approximately $17,259,454.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Apple news, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the completion of the transaction, the chief financial officer now owns 110,673 shares in the company, valued at approximately $17,259,454.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Deirdre O’brien sold 8,053 shares of Apple stock in a transaction that occurred on Monday, October 17th. The stock was sold at an average price of $142.45, for a total transaction of $1,147,149.85. Following the transaction, the senior vice president now directly owns 136,290 shares in the company, valued at approximately $19,414,510.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 360,651 shares of company stock worth $53,703,645. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of AAPL opened at $151.29 on Friday. The company has a market cap of $2.41 trillion, a PE ratio of 24.76, a P/E/G ratio of 1.90 and a beta of 1.25. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85. Apple Inc. has a one year low of $129.04 and a one year high of $182.94. The stock has a 50-day moving average of $147.08 and a 200-day moving average of $149.95.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.02. The business had revenue of $90.15 billion during the quarter, compared to the consensus estimate of $88.77 billion. Apple had a return on equity of 160.90% and a net margin of 25.31%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.24 EPS. On average, equities research analysts predict that Apple Inc. will post 6.26 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. Apple’s dividend payout ratio (DPR) is currently 15.06%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AAPL shares. Barclays dropped their price target on Apple from $156.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, November 7th. Deutsche Bank Aktiengesellschaft lowered their target price on Apple from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, October 28th. Robert W. Baird lowered their target price on Apple from $185.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, October 28th. Itau BBA Securities started coverage on Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 target price for the company. Finally, DA Davidson lowered their target price on Apple from $185.00 to $167.00 and set a “buy” rating for the company in a research report on Friday, October 28th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $176.26.

Apple Profile

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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

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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