Amplius Wealth Advisors LLC Decreases Position in Apple Inc. (NASDAQ:AAPL)

Amplius Wealth Advisors LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,778 shares of the iPhone maker’s stock after selling 1,380 shares during the quarter. Apple accounts for 1.4% of Amplius Wealth Advisors LLC’s portfolio, making the stock its 24th largest position. Amplius Wealth Advisors LLC’s holdings in Apple were worth $12,380,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Robert W. Baird lifted their price objective on Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Bank of America restated a “buy” rating and set a $256.00 price target on shares of Apple in a research note on Thursday, September 5th. The Goldman Sachs Group increased their price objective on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Loop Capital upgraded shares of Apple from a “hold” rating to a “buy” rating and boosted their target price for the company from $170.00 to $300.00 in a research report on Monday, July 15th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $250.00 price target on shares of Apple in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $239.17.

Insiders Place Their Bets

In other 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 sale, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction on 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 approximately $5,223,062.50. The disclosure for this sale can be found here. Insiders sold 113,884 shares of company stock valued at $23,723,887 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Down 0.3 %

Shares of AAPL stock opened at $228.20 on Monday. The stock’s 50-day moving average price is $222.41 and its 200-day moving average price is $200.41. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.23. The stock has a market capitalization of $3.50 trillion, a price-to-earnings ratio of 35.49, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. 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 released its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 EPS. Equities research analysts predict that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Dividend Announcement

The firm 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 of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is currently 15.55%.

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.