Accel Wealth Management Sells 675 Shares of Apple Inc. (NASDAQ:AAPL)

Accel Wealth Management reduced its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 2.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,045 shares of the iPhone maker’s stock after selling 675 shares during the quarter. Apple comprises about 2.2% of Accel Wealth Management’s portfolio, making the stock its 4th biggest position. Accel Wealth Management’s holdings in Apple were worth $3,761,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Apple by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after purchasing an additional 8,734,393 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Apple by 1.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock worth $14,097,970,000 after purchasing an additional 1,155,915 shares during the last quarter. Swiss National Bank raised its stake in shares of Apple by 13.1% in the first quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock worth $12,407,910,000 after purchasing an additional 8,230,300 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Apple by 10.1% in the first quarter. Wellington Management Group LLP now owns 67,133,546 shares of the iPhone maker’s stock worth $11,722,187,000 after purchasing an additional 6,162,898 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Apple by 2.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 49,435,007 shares of the iPhone maker’s stock worth $6,758,754,000 after purchasing an additional 1,003,177 shares during the last quarter. 57.72% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

Apple stock opened at $150.18 on Wednesday. Apple Inc. has a one year low of $129.04 and a one year high of $182.94. The business has a fifty day moving average price of $146.70 and a 200-day moving average price of $149.66. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85. The firm has a market capitalization of $2.39 trillion, a P/E ratio of 24.58, a PEG ratio of 1.93 and a beta of 1.25.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly 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. Apple had a return on equity of 160.90% and a net margin of 25.31%. The firm had revenue of $90.15 billion during the quarter, compared to analyst estimates of $88.77 billion. During the same period last year, the company earned $1.24 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities research analysts forecast that Apple Inc. will post 6.26 EPS for the current year.

Apple Dividend Announcement

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

Insider Transactions at Apple

In other news, CFO Luca Maestri sold 176,299 shares of the firm’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $155.95, for a total value of $27,493,829.05. Following the completion of the transaction, the chief financial officer now directly 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 is available through this hyperlink. In related news, SVP Deirdre O’brien sold 8,053 shares of the stock in a transaction on Monday, October 17th. The stock was sold at an average price of $142.45, for a total value of $1,147,149.85. Following the sale, the senior vice president now owns 136,290 shares in the company, valued at $19,414,510.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Luca Maestri sold 176,299 shares of the stock in a transaction on Friday, October 28th. The stock was sold at an average price of $155.95, for a total value of $27,493,829.05. Following the completion of the sale, the chief financial officer now owns 110,673 shares in the company, valued at approximately $17,259,454.35. 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 three months. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on AAPL shares. Itaú Unibanco started coverage on Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective for the company. DA Davidson lowered their price objective on Apple from $185.00 to $167.00 and set a “buy” rating for the company in a research note on Friday, October 28th. Itau BBA Securities began coverage on Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective for the company. KeyCorp reaffirmed a “buy” rating and issued a $175.00 target price on shares of Apple in a report on Tuesday, November 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $170.00 target price on shares of Apple in a report on Tuesday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $176.26.

Apple Company 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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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