Riverpoint Wealth Management Holdings LLC Cuts Holdings in Apple Inc. (NASDAQ:AAPL)

Riverpoint Wealth Management Holdings LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 10,758 shares of the iPhone maker’s stock after selling 90 shares during the quarter. Apple accounts for approximately 0.6% of Riverpoint Wealth Management Holdings LLC’s holdings, making the stock its 17th biggest holding. Riverpoint Wealth Management Holdings LLC’s holdings in Apple were worth $1,471,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AAPL. Aaron Wealth Advisors LLC boosted its stake in Apple by 30,391.8% in the first quarter. Aaron Wealth Advisors LLC now owns 26,075,085 shares of the iPhone maker’s stock valued at $149,333,000 after acquiring an additional 25,989,570 shares in the last quarter. Capital Research Global Investors boosted its stake in Apple by 31.7% in the first quarter. Capital Research Global Investors now owns 38,903,911 shares of the iPhone maker’s stock valued at $6,793,041,000 after acquiring an additional 9,354,484 shares in the last quarter. Vanguard Group Inc. boosted its stake in Apple by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after acquiring an additional 8,734,393 shares in the last quarter. Swiss National Bank boosted its stake in Apple by 13.1% in the first quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock valued at $12,407,910,000 after acquiring an additional 8,230,300 shares in the last quarter. Finally, CFS Investment Advisory Services LLC boosted its stake in Apple by 18,263.5% in the first 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 in the last quarter. 57.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Citigroup restated a “buy” rating and issued a $175.00 target price on shares of Apple in a research note on Tuesday, November 8th. UBS Group set a $180.00 target price on shares of Apple in a research note on Wednesday, November 16th. Needham & Company LLC reiterated a “buy” rating and set a $170.00 price objective on shares of Apple in a research note on Tuesday, November 8th. Sanford C. Bernstein set a $170.00 price objective on shares of Apple in a research note on Monday, September 12th. Finally, KeyCorp reiterated a “buy” rating and set a $175.00 price objective on shares of Apple in a research note on Tuesday, November 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $176.26.

Insider Transactions at Apple

In other news, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the completion of the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the completion of the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 8,053 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now directly owns 136,290 shares of the company’s stock, valued at approximately $19,414,510.50. The disclosure for this sale can be found here. Insiders sold 360,651 shares of company stock valued at $53,703,645 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Up 0.4 %

AAPL opened at $151.29 on Monday. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.85 and a current ratio of 0.88. The company has a fifty day moving average of $147.08 and a two-hundred day moving average of $149.77. The stock has a market capitalization of $2.41 trillion, a price-to-earnings ratio of 24.76, a PEG ratio of 1.93 and a beta of 1.25.

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

Apple Dividend Announcement

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

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

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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