Western Wealth Management LLC Has $56.02 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Western Wealth Management LLC cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 265,970 shares of the iPhone maker’s stock after selling 1,628 shares during the quarter. Apple comprises about 4.2% of Western Wealth Management LLC’s holdings, making the stock its 2nd largest position. Western Wealth Management LLC’s holdings in Apple were worth $56,019,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Yeomans Consulting Group Inc. acquired a new stake in shares of Apple during the fourth quarter worth $1,713,000. Raleigh Capital Management Inc. grew its holdings in Apple by 11.8% in the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock worth $2,986,000 after purchasing an additional 1,643 shares during the period. GLOBALT Investments LLC GA acquired a new position in shares of Apple during the fourth quarter valued at about $38,406,000. Barden Capital Management Inc. grew its holdings in shares of Apple by 132.8% during the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock valued at $6,283,000 after buying an additional 18,615 shares during the last quarter. Finally, Sunpointe LLC acquired a new position in shares of Apple during the fourth quarter valued at about $4,782,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Robert W. Baird raised their price target on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Monness Crespi & Hardt reissued a “buy” rating and set a $245.00 price target on shares of Apple in a research report on Monday, September 9th. TD Cowen raised their price target on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Needham & Company LLC reissued a “buy” rating and set a $260.00 price target on shares of Apple in a research report on Tuesday, September 10th. Finally, Citigroup reissued a “buy” rating and set a $255.00 price target on shares of Apple in a research report on Tuesday, August 27th. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $239.17.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $220.69 on Thursday. The company has a 50 day moving average of $222.43 and a 200 day moving average of $199.41. The stock has a market cap of $3.38 trillion, a P/E ratio of 34.32, 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 company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. Apple’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.26 earnings per share. As a group, sell-side analysts forecast that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Announces Dividend

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

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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 of the company’s stock, valued at approximately $3,469,275. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the business’s 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 completion of the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 8,706 shares of the business’s 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 completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The disclosure for this sale can be found here. Insiders sold a total of 113,884 shares of company stock valued at $23,723,887 in the last quarter. Corporate insiders own 0.06% of the company’s stock.

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.