Apple Inc. (NASDAQ:AAPL) Shares Sold by Baker Tilly Wealth Management LLC

Baker Tilly Wealth Management LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 44.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,076 shares of the iPhone maker’s stock after selling 31,432 shares during the period. Apple comprises about 3.5% of Baker Tilly Wealth Management LLC’s holdings, making the stock its 3rd largest position. Baker Tilly Wealth Management LLC’s holdings in Apple were worth $8,441,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of AAPL. Old Port Advisors grew its stake in Apple by 1.9% in the 2nd quarter. Old Port Advisors now owns 40,475 shares of the iPhone maker’s stock valued at $8,525,000 after purchasing an additional 770 shares during the period. Chaney Capital Management Inc. raised its stake in shares of Apple by 21.5% during the 2nd quarter. Chaney Capital Management Inc. now owns 36,443 shares of the iPhone maker’s stock valued at $7,676,000 after purchasing an additional 6,451 shares during the period. TruNorth Capital Management LLC boosted its position in shares of Apple by 0.7% in the second quarter. TruNorth Capital Management LLC now owns 10,074 shares of the iPhone maker’s stock valued at $2,122,000 after acquiring an additional 70 shares during the period. Evolution Wealth Advisors LLC raised its position in shares of Apple by 16.0% in the second quarter. Evolution Wealth Advisors LLC now owns 31,109 shares of the iPhone maker’s stock worth $6,562,000 after buying an additional 4,295 shares in the last quarter. Finally, Dupont Capital Management Corp grew its holdings in shares of Apple by 5.2% during the second quarter. Dupont Capital Management Corp now owns 260,947 shares of the iPhone maker’s stock worth $54,961,000 after purchasing an additional 12,984 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Apple news, insider Chris Kondo sold 8,706 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at $3,469,275. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,884 shares of company stock worth $23,723,887. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the topic of a number of research analyst reports. Citigroup reissued a “buy” rating and issued a $255.00 price target on shares of Apple in a report on Tuesday, August 27th. Barclays lowered their price target on Apple from $187.00 to $186.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. Piper Sandler Companies reiterated a “neutral” rating and issued a $225.00 price objective (up from $190.00) on shares of Apple in a report on Tuesday, July 9th. Melius Research reissued a “buy” rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, August 27th. Finally, Moffett Nathanson initiated coverage on Apple in a research note on Monday, August 19th. They issued a “neutral” rating and a $211.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $239.17.

Apple Stock Performance

Shares of AAPL stock opened at $222.50 on Monday. The firm has a market capitalization of $3.41 trillion, a price-to-earnings ratio of 34.60, a PEG ratio of 2.62 and a beta of 1.24. The stock has a fifty day moving average of $223.14 and a 200 day moving average of $198.75. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.23. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same period last year, the company posted $1.26 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, research analysts expect that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.45%. Apple’s payout ratio is 15.55%.

About Apple

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.