Meridian Wealth Advisors LLC Trims Stock Position in Apple Inc. (NASDAQ:AAPL)

Meridian Wealth Advisors LLC decreased its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 1.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 117,936 shares of the iPhone maker’s stock after selling 1,512 shares during the period. Apple accounts for approximately 4.6% of Meridian Wealth Advisors LLC’s investment portfolio, making the stock its 4th biggest holding. Meridian Wealth Advisors LLC’s holdings in Apple were worth $16,299,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AAPL. MKT Advisors LLC raised its holdings in shares of Apple by 0.5% in the 2nd quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock worth $1,777,000 after purchasing an additional 60 shares during the period. Your Advocates Ltd. LLP raised its holdings in shares of Apple by 1.0% in the 2nd quarter. Your Advocates Ltd. LLP now owns 6,339 shares of the iPhone maker’s stock worth $867,000 after purchasing an additional 65 shares during the period. Harbor Capital Advisors Inc. raised 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 worth $143,000 after purchasing an additional 66 shares during the period. Aufman Associates Inc raised its holdings in shares of Apple by 0.9% in the 2nd quarter. Aufman Associates Inc now owns 7,674 shares of the iPhone maker’s stock worth $1,049,000 after purchasing an additional 66 shares during the period. Finally, Lake Point Wealth Management raised its holdings in shares of Apple by 1.7% during the 2nd quarter. Lake Point Wealth Management now owns 4,025 shares of the iPhone maker’s stock valued at $550,000 after buying an additional 67 shares during the period. Institutional investors own 57.60% of the company’s stock.

Insider Buying and Selling

In related news, 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 value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, 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 value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 176,299 shares of Apple 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 owns 110,673 shares in the company, valued at $17,259,454.35. The disclosure for this sale can be found here. Insiders have sold 204,552 shares of company stock worth $31,645,123 in the last three months. 0.06% of the stock is currently owned by insiders.

Apple Stock Up 2.1 %

AAPL opened at $133.49 on Thursday. Apple Inc. has a one year low of $124.17 and a one year high of $179.61. 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 stock’s fifty day moving average is $139.51 and its 200-day moving average is $148.33. The company has a market capitalization of $2.12 trillion, a PE ratio of 21.85, a P/E/G ratio of 1.68 and a beta of 1.24.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. Apple had a return on equity of 160.90% and a net margin of 25.31%. The company had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. During the same quarter in the previous year, the business earned $1.24 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities analysts predict that Apple Inc. will post 6.19 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Investors 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 0.69%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s payout ratio is 15.06%.

Analyst Upgrades and Downgrades

AAPL has been the topic of several analyst reports. JPMorgan Chase & Co. set a $190.00 target price on Apple in a report on Monday, January 2nd. Needham & Company LLC reiterated a “buy” rating and set a $170.00 target price on shares of Apple in a report on Tuesday, November 8th. Rosenblatt Securities reiterated a “buy” rating and set a $189.00 target price on shares of Apple in a report on Tuesday, November 8th. 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. Finally, DA Davidson dropped their target price on Apple to $167.00 in a report on Thursday, December 1st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $171.93.

About Apple

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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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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