FirstPurpose Wealth LLC Sells 1,031 Shares of Apple Inc. (NASDAQ:AAPL)

FirstPurpose Wealth LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 17.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,808 shares of the iPhone maker’s stock after selling 1,031 shares during the quarter. FirstPurpose Wealth LLC’s holdings in Apple were worth $823,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Atlantic Private Wealth LLC purchased a new stake in Apple in the first quarter worth $30,000. Summit Wealth Group LLC grew its stake in Apple by 16,252.3% in the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 6,949,659 shares during the period. HBC Financial Services PLLC grew its stake in Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares during the period. West Tower Group LLC purchased a new stake in Apple in the second quarter worth $64,000. Finally, Clear Perspectives Financial Planning LLC grew its holdings in Apple by 27.3% in the first quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock worth $172,000 after purchasing an additional 211 shares during the period. 58.51% of the stock is currently owned by institutional investors.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 123,448 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $188.79, for a total transaction of $23,305,747.92. Following the sale, the senior vice president now owns 293,266 shares of the company’s stock, valued at $55,365,688.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Apple news, SVP Katherine L. Adams sold 123,448 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $188.79, for a total transaction of $23,305,747.92. Following the sale, the senior vice president now directly owns 293,266 shares in the company, valued at $55,365,688.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Chris Kondo sold 5,513 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $192.00, for a total value of $1,058,496.00. Following the sale, the insider now owns 29,174 shares in the company, valued at $5,601,408. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AAPL shares. Robert W. Baird upped their price objective on shares of Apple from $186.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. DA Davidson began coverage on Apple in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $166.00 target price on the stock. Oppenheimer reissued an “outperform” rating and issued a $200.00 target price on shares of Apple in a research note on Friday, February 2nd. Piper Sandler Companies cut Apple to a “neutral” rating and cut their target price for the stock from $220.00 to $205.00 in a research note on Thursday, January 4th. Finally, Barclays cut their target price on Apple from $160.00 to $158.00 and set an “underweight” rating on the stock in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.72.

Read Our Latest Stock Analysis on Apple

Apple Stock Up 0.4 %

AAPL opened at $188.85 on Friday. The company has a market capitalization of $2.92 trillion, a PE ratio of 29.42, a price-to-earnings-growth ratio of 2.28 and a beta of 1.31. The firm has a 50-day simple moving average of $190.51 and a two-hundred day simple moving average of $184.18. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. Apple Inc. has a 52 week low of $143.90 and a 52 week high of $199.62.

Apple (NASDAQ:AAPLGet Free Report) last posted its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. The company had revenue of $119.60 billion for the quarter, compared to the consensus estimate of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.88 earnings per share. Analysts forecast that Apple Inc. will post 6.56 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Monday, February 12th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, February 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.51%. Apple’s dividend payout ratio is currently 14.95%.

Apple Profile

(Free Report)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. 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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