Apple Inc. (NASDAQ:AAPL) Stake Lowered by Endurance Wealth Management Inc.

Endurance Wealth Management Inc. reduced its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 200,111 shares of the iPhone maker’s stock after selling 289 shares during the period. Apple accounts for 4.6% of Endurance Wealth Management Inc.’s holdings, making the stock its 2nd biggest position. Endurance Wealth Management Inc.’s holdings in Apple were worth $27,655,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Whittier Trust Co. grew its holdings in shares of Apple by 1.0% during the 3rd quarter. Whittier Trust Co. now owns 1,736,628 shares of the iPhone maker’s stock valued at $240,002,000 after acquiring an additional 17,175 shares in the last quarter. Greenup Street Wealth Management LLC lifted its stake in shares of Apple by 1.3% in the 3rd quarter. Greenup Street Wealth Management LLC now owns 17,918 shares of the iPhone maker’s stock valued at $2,476,000 after purchasing an additional 236 shares during the last quarter. Gemmer Asset Management LLC lifted its stake in shares of Apple by 3.7% in the 3rd quarter. Gemmer Asset Management LLC now owns 39,648 shares of the iPhone maker’s stock valued at $5,479,000 after purchasing an additional 1,411 shares during the last quarter. Morgan Jess S & Co. Inc. lifted its stake in shares of Apple by 1.7% in the 3rd quarter. Morgan Jess S & Co. Inc. now owns 32,968 shares of the iPhone maker’s stock valued at $4,556,000 after purchasing an additional 566 shares during the last quarter. Finally, Investment Partners LTD. lifted its stake in shares of Apple by 122.7% in the 3rd quarter. Investment Partners LTD. now owns 155,029 shares of the iPhone maker’s stock valued at $21,425,000 after purchasing an additional 85,405 shares during the last quarter. 57.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 20,200 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the transaction, the insider now directly owns 31,505 shares in the company, valued at $4,685,423.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Luca Maestri sold 176,299 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at $17,259,454.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 20,200 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the transaction, the insider now owns 31,505 shares in the company, valued at $4,685,423.60. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Oppenheimer reduced their price objective on shares of Apple from $190.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, December 12th. Bank of America reduced their price objective on shares of Apple from $160.00 to $154.00 and set a “neutral” rating for the company in a research note on Monday, November 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $170.00 price objective on shares of Apple in a research note on Tuesday, November 8th. Sanford C. Bernstein reduced their price objective on shares of Apple from $170.00 to $125.00 in a research note on Monday, January 9th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Apple from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, October 28th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $171.22.

Apple Price Performance

Shares of Apple stock opened at $134.76 on Tuesday. 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 $2.14 trillion, a price-to-earnings ratio of 22.06, a P/E/G ratio of 1.74 and a beta of 1.24. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $179.61. The firm’s 50-day moving average price is $139.25 and its two-hundred day moving average price is $148.30.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.03. The firm had revenue of $90.15 billion for 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.24 earnings per share. On average, equities analysts predict that Apple Inc. will post 6.19 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Monday, November 7th were given a dividend of $0.23 per share. 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 0.68%. Apple’s payout ratio is 15.06%.

About Apple

(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; 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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