Wealthspan Partners LLC Sells 130 Shares of Apple Inc. (NASDAQ:AAPL)

Wealthspan Partners LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,762 shares of the iPhone maker’s stock after selling 130 shares during the period. Apple comprises approximately 2.4% of Wealthspan Partners LLC’s investment portfolio, making the stock its 10th largest holding. Wealthspan Partners LLC’s holdings in Apple were worth $4,373,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AAPL. Elite Life Management LLC acquired a new stake in shares of Apple in the fourth quarter valued at about $963,000. Kelman Lazarov Inc. lifted its stake in Apple by 0.9% in the 4th quarter. Kelman Lazarov Inc. now owns 15,862 shares of the iPhone maker’s stock valued at $3,054,000 after buying an additional 144 shares in the last quarter. Monument Capital Management boosted its holdings in Apple by 1.7% in the 4th quarter. Monument Capital Management now owns 35,103 shares of the iPhone maker’s stock worth $6,758,000 after buying an additional 601 shares during the last quarter. Townsend Asset Management Corp NC ADV increased its stake in Apple by 0.7% during the 4th quarter. Townsend Asset Management Corp NC ADV now owns 41,480 shares of the iPhone maker’s stock worth $7,986,000 after buying an additional 268 shares in the last quarter. Finally, RWA Wealth Partners LLC raised its holdings in shares of Apple by 143.3% during the fourth quarter. RWA Wealth Partners LLC now owns 831,496 shares of the iPhone maker’s stock valued at $160,088,000 after acquiring an additional 489,712 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction dated 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 approximately $39,542,136.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The disclosure for this sale can be found here. Insiders sold 113,884 shares of company stock worth $23,723,887 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Tigress Financial increased their price target on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 28th. KeyCorp restated a “hold” rating and issued a $247.61 price objective on shares of Apple in a report on Wednesday, August 28th. UBS Group increased their target price on shares of Apple from $190.00 to $236.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Oppenheimer restated an “outperform” rating and set a $250.00 price target on shares of Apple in a report on Tuesday, September 10th. Finally, Melius Research restated a “buy” rating and issued a $265.00 price target on shares of Apple in a research note on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $239.17.

Apple Stock Performance

NASDAQ AAPL opened at $228.20 on Friday. The stock has a market capitalization of $3.50 trillion, a price-to-earnings ratio of 35.49, a PEG ratio of 2.62 and a beta of 1.24. The business’s 50 day moving average is $222.41 and its two-hundred day moving average is $199.99. 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 announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $85.78 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the company posted $1.26 earnings per share. Research analysts expect that Apple Inc. will post 6.7 EPS for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued 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 dividend yield of 0.44%. Apple’s dividend payout ratio is presently 15.55%.

Apple Company 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.