Miller Wealth Advisors LLC Trims Stock Position in Apple Inc. (NASDAQ:AAPL)

Miller Wealth Advisors LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 172,182 shares of the iPhone maker’s stock after selling 1,486 shares during the period. Apple comprises about 19.6% of Miller Wealth Advisors LLC’s portfolio, making the stock its 2nd biggest position. Miller Wealth Advisors LLC’s holdings in Apple were worth $36,265,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Apple by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after purchasing an additional 18,067,216 shares in the last quarter. Norges Bank acquired a new position in Apple during the 4th quarter worth approximately $33,912,466,000. Wellington Management Group LLP raised its stake in Apple by 3.6% during the 4th quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock worth $11,677,190,000 after buying an additional 2,096,360 shares during the period. Fisher Asset Management LLC raised its stake in Apple by 2.0% during the 4th quarter. Fisher Asset Management LLC now owns 54,702,300 shares of the iPhone maker’s stock worth $10,531,834,000 after buying an additional 1,067,587 shares during the period. Finally, Capital International Investors raised its stake in Apple by 7.1% during the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after buying an additional 2,474,887 shares during the period. Institutional investors own 60.41% of the company’s stock.

Apple Stock Down 0.1 %

AAPL opened at $222.50 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The company has a market cap of $3.41 trillion, a P/E ratio of 34.60, a P/E/G ratio of 2.62 and a beta of 1.24. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23. The business’s 50-day moving average price is $223.14 and its 200-day moving average price is $198.75.

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

Apple Dividend Announcement

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

Insider Buying and Selling

In other Apple 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 of the company’s stock, valued at approximately $3,469,275. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Apple 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 of the company’s stock, valued at approximately $3,469,275. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred 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 sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The disclosure for this sale can be found here. Insiders have sold 113,884 shares of company stock valued at $23,723,887 over the last ninety days. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AAPL shares. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price target on shares of Apple in a research note on Tuesday, September 10th. Piper Sandler reissued a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Oppenheimer reaffirmed an “outperform” rating and set a $250.00 price target on shares of Apple in a research report on Tuesday, September 10th. Melius Research reaffirmed a “buy” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, August 27th. Finally, Loop Capital raised Apple from a “hold” rating to a “buy” rating and increased their price objective for the company from $170.00 to $300.00 in a report on Monday, July 15th. One 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $239.17.

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.