Apple Inc. (NASDAQ:AAPL) Position Trimmed by Petix & Botte Co

Petix & Botte Co decreased its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 50.9% in the 2nd quarter, Holdings Channel reports. The firm owned 14,481 shares of the iPhone maker’s stock after selling 14,991 shares during the quarter. Apple comprises about 1.5% of Petix & Botte Co’s investment portfolio, making the stock its 20th biggest holding. Petix & Botte Co’s holdings in Apple were worth $1,980,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Mokosak Advisory Group LLC increased its holdings in shares of Apple by 1.2% in the 1st quarter. Mokosak Advisory Group LLC now owns 5,702 shares of the iPhone maker’s stock valued at $996,000 after purchasing an additional 66 shares during the period. Harbor Capital Advisors Inc. increased its holdings in shares of Apple by 6.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 1,046 shares of the iPhone maker’s stock valued at $143,000 after purchasing an additional 66 shares during the period. Lake Point Wealth Management increased its holdings in shares of Apple by 1.7% in the 2nd quarter. Lake Point Wealth Management now owns 4,025 shares of the iPhone maker’s stock valued at $550,000 after purchasing an additional 67 shares during the period. Cardinal Point Wealth Management Partners LLC increased its holdings in shares of Apple by 0.4% in the 2nd quarter. Cardinal Point Wealth Management Partners LLC now owns 16,455 shares of the iPhone maker’s stock valued at $2,250,000 after purchasing an additional 68 shares during the period. Finally, Silver Lake Advisory LLC increased its holdings in shares of Apple by 1.4% in the 2nd quarter. Silver Lake Advisory LLC now owns 4,875 shares of the iPhone maker’s stock valued at $667,000 after purchasing an additional 69 shares during the period. Institutional investors own 57.72% of the company’s stock.

Apple Stock Up 0.6 %

AAPL opened at $151.07 on Thursday. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.95. The stock has a market capitalization of $2.40 trillion, a price-to-earnings ratio of 24.73, a P/E/G ratio of 1.89 and a beta of 1.25. The business has a 50 day moving average of $146.70 and a 200-day moving average of $149.66.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.02. The company had revenue of $90.15 billion during the quarter, compared to analysts’ expectations of $88.77 billion. Apple had a return on equity of 160.90% and a net margin of 25.31%. Apple’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.24 earnings per share. As a group, sell-side analysts anticipate that Apple Inc. will post 6.26 earnings per share for the current year.

Apple Announces Dividend

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

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 176,299 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $142.16, for a total value of $25,062,665.84. Following the completion of the transaction, the senior vice president now directly owns 136,290 shares of the company’s stock, valued at $19,374,986.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Chris Kondo sold 20,200 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total value of $3,004,144.00. Following the completion of the transaction, the insider now directly owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 176,299 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $142.16, for a total value of $25,062,665.84. Following the completion of the transaction, the senior vice president now directly owns 136,290 shares of the company’s stock, valued at $19,374,986.40. The disclosure for this sale can be found here. Insiders sold a total of 380,851 shares of company stock valued at $56,707,789 over the last ninety days. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on AAPL shares. Deutsche Bank Aktiengesellschaft dropped their target price on Apple from $175.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, October 28th. Evercore ISI increased their price objective on Apple from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Tuesday, September 20th. Morgan Stanley dropped their price objective on Apple from $177.00 to $175.00 and set an “overweight” rating on the stock in a report on Tuesday, November 8th. Sanford C. Bernstein set a $170.00 price objective on Apple in a report on Monday, September 12th. Finally, Bank of America dropped their price objective on Apple from $160.00 to $154.00 and set a “neutral” rating on the stock in a report on Monday, November 7th. Two 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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