Apple Inc. (NASDAQ:AAPL) is Melfa Wealth Management LLC’s 6th Largest Position

Melfa Wealth Management LLC reduced its position in Apple Inc. (NASDAQ:AAPLFree Report) by 1.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,807 shares of the iPhone maker’s stock after selling 290 shares during the quarter. Apple comprises about 3.7% of Melfa Wealth Management LLC’s holdings, making the stock its 6th biggest holding. Melfa Wealth Management LLC’s holdings in Apple were worth $3,734,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AAPL. Vanguard Group Inc. lifted its position in Apple by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after purchasing an additional 8,734,393 shares during the last quarter. State Street Corp lifted its position in Apple by 0.5% during the second quarter. State Street Corp now owns 578,897,858 shares of the iPhone maker’s stock valued at $112,288,818,000 after purchasing an additional 2,616,084 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in Apple by 116,483.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock valued at $74,002,245,000 after purchasing an additional 569,066,184 shares during the last quarter. Geode Capital Management LLC lifted its position in Apple by 2.2% during the second quarter. Geode Capital Management LLC now owns 291,538,165 shares of the iPhone maker’s stock valued at $56,396,763,000 after purchasing an additional 6,367,053 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Apple by 3.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 234,017,381 shares of the iPhone maker’s stock valued at $38,589,468,000 after purchasing an additional 7,736,013 shares during the last quarter. 58.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. DA Davidson assumed coverage on shares of Apple in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $166.00 target price for the company. Piper Sandler Companies downgraded shares of Apple to a “neutral” rating and decreased their price target for the stock from $220.00 to $205.00 in a research note on Thursday, January 4th. Tigress Financial lifted their price target on shares of Apple from $225.00 to $240.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 16th. Jefferies Financial Group decreased their price target on shares of Apple from $220.00 to $195.00 and set a “buy” rating on the stock in a research note on Tuesday, October 31st. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $189.00 price target on shares of Apple in a research note on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $205.72.

Check Out Our Latest Stock Analysis on Apple

Apple Stock Performance

Shares of Apple stock opened at $188.85 on Friday. Apple Inc. has a 1 year low of $143.90 and a 1 year high of $199.62. The firm’s 50-day moving average is $190.51 and its 200 day moving average is $184.12. The stock has a market cap of $2.92 trillion, a price-to-earnings ratio of 29.42, a PEG ratio of 2.27 and a beta of 1.31. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02.

Apple (NASDAQ:AAPLGet Free Report) last issued its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, beating the consensus estimate of $2.09 by $0.09. The business 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 company’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $1.88 EPS. Sell-side analysts anticipate that Apple Inc. will post 6.56 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Monday, February 12th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend is Friday, February 9th. Apple’s payout ratio is presently 14.95%.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 5,513 shares of Apple stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $192.00, for a total value of $1,058,496.00. Following the completion of the sale, the insider now owns 29,174 shares of the company’s stock, valued at $5,601,408. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Chris Kondo sold 5,513 shares of Apple stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $192.00, for a total value of $1,058,496.00. Following the completion of the sale, the insider now owns 29,174 shares of the company’s stock, valued at $5,601,408. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 123,448 shares of Apple stock in a transaction on Friday, November 17th. The stock was sold at an average price of $188.79, for a total value of $23,305,747.92. Following the completion of the sale, the senior vice president now directly owns 293,266 shares of the company’s stock, valued at approximately $55,365,688.14. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Apple Company 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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