Iron Horse Wealth Management LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,559 shares of the iPhone maker’s stock after selling 87 shares during the period. Apple comprises about 0.3% of Iron Horse Wealth Management LLC’s holdings, making the stock its 22nd largest position. Iron Horse Wealth Management LLC’s holdings in Apple were worth $487,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in AAPL. CFS Investment Advisory Services LLC lifted its position in shares of Apple by 18,263.5% during 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 purchasing an additional 7,416,445 shares in the last quarter. Spence Asset Management bought a new position in shares of Apple during the second quarter valued at about $49,000. HBC Financial Services PLLC lifted its position in shares of Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares in the last quarter. Emerson Wealth LLC lifted its position in shares of Apple by 27.0% during the second quarter. Emerson Wealth LLC now owns 518 shares of the iPhone maker’s stock valued at $71,000 after purchasing an additional 110 shares in the last quarter. Finally, Darrow Company Inc. purchased a new stake in Apple during the second quarter worth about $107,000. 57.72% of the stock is owned by institutional investors.
Apple Trading Up 0.6 %
Shares of Apple stock opened at $151.07 on Friday. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The firm has a market cap of $2.40 trillion, a PE ratio of 24.73, a PEG ratio of 1.92 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. The company has a 50 day simple moving average of $146.62 and a two-hundred day simple moving average of $149.67.
Apple Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Monday, November 7th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.61%. Apple’s payout ratio is 15.06%.
Insider Transactions at Apple
In other news, SVP Deirdre O’brien sold 8,053 shares of the business’s stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $142.45, for a total value of $1,147,149.85. Following the completion of the sale, the senior vice president now directly owns 136,290 shares in the company, valued at approximately $19,414,510.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction on Friday, October 28th. The shares were sold at an average price of $155.95, for a total value of $27,493,829.05. Following the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Deirdre O’brien sold 8,053 shares of Apple stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 136,290 shares in the company, valued at $19,414,510.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 380,851 shares of company stock worth $56,707,789. 0.06% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on AAPL shares. Rosenblatt Securities restated a “buy” rating and set a $189.00 price objective on shares of Apple in a report on Tuesday, November 8th. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a report on Saturday, November 5th. Credit Suisse Group set a $184.00 price objective on shares of Apple in a report on Thursday. Bank Of America (Bofa) downgraded shares of Apple from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $189.00 to $160.00 in a report on Friday, September 30th. Finally, Bank of America decreased their price objective on shares of Apple from $160.00 to $154.00 and set a “neutral” rating for the company in a report on Monday, November 7th. Two equities research 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average price target of $176.26.
Apple Company Profile
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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
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