High Net Worth Advisory Group LLC Lowers Stock Position in Apple Inc. (NASDAQ:AAPL)

High Net Worth Advisory Group LLC decreased its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 12.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 65,128 shares of the iPhone maker’s stock after selling 9,393 shares during the period. Apple makes up 3.8% of High Net Worth Advisory Group LLC’s portfolio, making the stock its 2nd largest position. High Net Worth Advisory Group LLC’s holdings in Apple were worth $9,001,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Wealthspire Advisors LLC increased its stake in shares of Apple by 42.8% in the second quarter. Wealthspire Advisors LLC now owns 299,829 shares of the iPhone maker’s stock worth $40,993,000 after purchasing an additional 89,865 shares in the last quarter. Emerald Advisors LLC grew its stake in Apple by 2.4% during the second quarter. Emerald Advisors LLC now owns 19,905 shares of the iPhone maker’s stock valued at $2,721,000 after acquiring an additional 465 shares in the last quarter. Eagle Bay Advisors LLC grew its stake in Apple by 35.7% during the second quarter. Eagle Bay Advisors LLC now owns 25,608 shares of the iPhone maker’s stock valued at $3,501,000 after acquiring an additional 6,735 shares in the last quarter. Callan Capital LLC grew its stake in Apple by 1.6% during the second quarter. Callan Capital LLC now owns 85,226 shares of the iPhone maker’s stock valued at $11,652,000 after acquiring an additional 1,322 shares in the last quarter. Finally, Sageworth Trust Co grew its stake in Apple by 150.3% during the second quarter. Sageworth Trust Co now owns 5,798 shares of the iPhone maker’s stock valued at $793,000 after acquiring an additional 3,482 shares in the last quarter. Hedge funds and other institutional investors own 57.60% of the company’s stock.

Apple Stock Up 1.9 %

NASDAQ:AAPL opened at $137.87 on Monday. The firm’s 50-day moving average price is $138.72 and its 200-day moving average price is $148.18. The company has a market capitalization of $2.18 trillion, a PE 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 Inc. has a 1-year low of $124.17 and a 1-year high of $179.61.

Apple (NASDAQ:AAPLGet Rating) last released its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. The firm had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. Apple had a net margin of 25.31% and a return on equity of 160.90%. The company’s 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 EPS. On average, equities analysts predict that Apple Inc. will post 6.19 EPS for the current fiscal year.

Apple Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. 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. Oppenheimer cut their price target 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. Rosenblatt Securities cut their price target on shares of Apple from $189.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, January 13th. Fundamental Research boosted their price target on shares of Apple to $168.50 and gave the stock a “buy” rating in a research note on Tuesday, November 8th. Finally, BNP Paribas cut shares of Apple from an “outperform” rating to a “neutral” rating and set a $140.00 price target for the company. in a research note on Tuesday, January 3rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $166.73.

Insider Activity at Apple

In related news, insider Chris Kondo sold 20,200 shares of the stock in a transaction dated 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 sale, the insider now directly owns 31,505 shares of the company’s stock, valued at approximately $4,685,423.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Luca Maestri sold 176,299 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Kondo sold 20,200 shares of the stock in a transaction dated 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 sale, the insider now directly 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 currently owned by insiders.

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; 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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