ACT Wealth Management LLC Sells 4,885 Shares of Apple Inc. (NASDAQ:AAPL)

ACT Wealth Management LLC trimmed its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 12.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 33,220 shares of the iPhone maker’s stock after selling 4,885 shares during the period. Apple makes up 3.3% of ACT Wealth Management LLC’s portfolio, making the stock its 8th biggest holding. ACT Wealth Management LLC’s holdings in Apple were worth $4,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. Bluestem Financial Advisors LLC grew its holdings in shares of Apple by 5,935.2% during the 2nd quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 229,929 shares in the last quarter. HBC Financial Services PLLC grew its holdings in shares of Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares in the last quarter. Ramsey Quantitative Systems acquired a new stake in shares of Apple during the 2nd quarter worth $55,000. Morgan Dempsey Capital Management LLC acquired a new stake in Apple in the third quarter valued at about $55,000. Finally, Newfound Research LLC acquired a new stake in Apple in the third quarter valued at about $67,000. 57.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AAPL shares. Canaccord Genuity Group reduced their price objective on Apple from $200.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, January 18th. BNP Paribas lowered Apple from an “outperform” rating to a “neutral” rating and set a $140.00 price objective on the stock. in a research note on Tuesday, January 3rd. Fundamental Research raised their price objective on Apple to $168.50 and gave the company a “buy” rating in a research note on Tuesday, November 8th. Oppenheimer reduced their price objective on Apple from $190.00 to $170.00 and set an “outperform” rating on the stock in a research note on Monday, December 12th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $184.00 target price on shares of Apple in a research report on Wednesday, January 18th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $166.73.

Apple Trading Up 1.9 %

NASDAQ AAPL opened at $137.87 on Monday. The business has a 50 day simple moving average of $138.72 and a 200 day simple moving average of $148.18. Apple Inc. has a one year low of $124.17 and a one year high of $179.61. The stock has a market capitalization of $2.18 trillion, a P/E ratio of 22.56, a P/E/G ratio of 1.78 and a beta of 1.24. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85.

Apple (NASDAQ:AAPLGet Rating) last released its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, topping the consensus estimate of $1.26 by $0.03. Apple had a return on equity of 160.90% and a net margin of 25.31%. The business had revenue of $90.15 billion during the quarter, compared to analysts’ expectations of $88.77 billion. During the same quarter last year, the firm posted $1.24 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. Research analysts expect that Apple Inc. will post 6.19 earnings per share for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were paid a $0.23 dividend. The ex-dividend date was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 0.67%. Apple’s dividend payout ratio (DPR) is presently 15.06%.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 20,200 shares of the firm’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 value of $3,004,144.00. Following the completion of the sale, the insider now owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Apple news, insider Chris Kondo sold 20,200 shares of the firm’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 value of $3,004,144.00. Following the completion of the sale, the insider now owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Luca Maestri sold 176,299 shares of the firm’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 value of $27,493,829.05. Following the completion of the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Company Profile

(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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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