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

Elite Wealth Management Inc. decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 17.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 177,608 shares of the iPhone maker’s stock after selling 37,700 shares during the quarter. Apple comprises 5.5% of Elite Wealth Management Inc.’s holdings, making the stock its 4th biggest position. Elite Wealth Management Inc.’s holdings in Apple were worth $44,477,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Amara Financial LLC. acquired a new stake in shares of Apple during the third quarter worth $288,000. Silicon Valley Capital Partners raised its position in Apple by 12.8% during the 3rd quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock worth $59,122,000 after buying an additional 28,799 shares during the last quarter. Catalyst Financial Partners LLC lifted its stake in shares of Apple by 4.2% in the 3rd quarter. Catalyst Financial Partners LLC now owns 96,589 shares of the iPhone maker’s stock worth $22,505,000 after acquiring an additional 3,935 shares during the period. Vestcor Inc boosted its holdings in shares of Apple by 10.1% in the third quarter. Vestcor Inc now owns 375,539 shares of the iPhone maker’s stock valued at $87,501,000 after acquiring an additional 34,414 shares in the last quarter. Finally, 5th Street Advisors LLC increased its stake in shares of Apple by 32.9% during the third quarter. 5th Street Advisors LLC now owns 15,100 shares of the iPhone maker’s stock worth $3,518,000 after acquiring an additional 3,736 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the sale, the chief executive officer now owns 3,280,295 shares of the company’s stock, valued at $733,637,976.75. The trade was a 3.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the business’s stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the transaction, the chief financial officer now owns 4,569 shares in the company, valued at $941,214. This represents a 50.01 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 187,021 shares of company stock valued at $41,760,140. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AAPL. Monness Crespi & Hardt raised their price objective on shares of Apple to $245.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. TD Cowen reissued a “buy” rating on shares of Apple in a report on Tuesday, January 28th. KeyCorp raised Apple from an “underweight” rating to a “sector weight” rating in a report on Monday, April 14th. Loop Capital cut Apple from a “buy” rating to a “hold” rating and set a $230.00 price objective for the company. in a research report on Tuesday, January 21st. Finally, Wedbush decreased their target price on shares of Apple from $325.00 to $250.00 and set an “outperform” rating on the stock in a research report on Monday, April 7th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $234.31.

Apple Price Performance

AAPL opened at $211.21 on Wednesday. The company has a 50 day moving average of $214.32 and a two-hundred day moving average of $229.06. Apple Inc. has a 52-week low of $169.11 and a 52-week high of $260.10. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The company has a market cap of $3.17 trillion, a P/E ratio of 33.53, a P/E/G ratio of 2.44 and a beta of 1.26.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.47%. Apple’s payout ratio is currently 15.87%.

Apple Profile

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.