Apple Inc. (NASDAQ:AAPL) Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc trimmed its holdings in Apple Inc. (NASDAQ:AAPLFree Report) by 0.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,794 shares of the iPhone maker’s stock after selling 399 shares during the quarter. Apple comprises 2.1% of Marks Group Wealth Management Inc’s portfolio, making the stock its 2nd largest holding. Marks Group Wealth Management Inc’s holdings in Apple were worth $16,743,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Atlantic Private Wealth LLC acquired a new stake in Apple in the first quarter worth approximately $30,000. Cheyne Capital Management UK LLP lifted its position in Apple by 200.0% in the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $212,000 after purchasing an additional 550 shares during the period. West Tower Group LLC acquired a new stake in Apple in the second quarter worth approximately $64,000. HBC Financial Services PLLC lifted its position 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. Finally, Clear Perspectives Financial Planning LLC lifted its position 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 owned by institutional investors.

Apple Trading Up 0.4 %

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

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

Apple Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders 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 yield of 0.51%. The ex-dividend date of this dividend is Friday, February 9th. Apple’s dividend payout ratio (DPR) is 14.95%.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 123,448 shares of the company’s stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 293,266 shares in the company, valued at $55,365,688.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Chris Kondo sold 5,513 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 29,174 shares in the company, valued at $5,601,408. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Katherine L. Adams sold 123,448 shares of the stock in a transaction dated 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 completion of the sale, the senior vice president now 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. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Piper Sandler Companies downgraded Apple to a “neutral” rating and cut their target price for the stock from $220.00 to $205.00 in a research report on Thursday, January 4th. Oppenheimer reiterated an “outperform” rating and set a $200.00 price objective on shares of Apple in a research report on Friday, February 2nd. Bank of America upgraded Apple from a “neutral” rating to a “buy” rating and increased their price objective for the company from $208.00 to $225.00 in a research report on Thursday, January 18th. The Goldman Sachs Group increased their price objective on Apple from $223.00 to $232.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, Barclays cut their price objective on Apple from $160.00 to $158.00 and set an “underweight” rating for the company in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $205.72.

Check Out Our Latest Stock Analysis on Apple

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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