Apple Inc. (NASDAQ:AAPL) is Schrum Private Wealth Management LLC’s 3rd Largest Position

Schrum Private Wealth Management LLC trimmed its position in Apple Inc. (NASDAQ:AAPL) by 2.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,048 shares of the iPhone maker’s stock after selling 605 shares during the quarter. Apple accounts for 4.9% of Schrum Private Wealth Management LLC’s holdings, making the stock its 3rd largest holding. Schrum Private Wealth Management LLC’s holdings in Apple were worth $5,486,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. A.P. Gilfoyle & Co. L.P. purchased a new position in Apple during the fourth quarter worth approximately $39,000. University of Texas Texas AM Investment Managment Co. boosted its position in Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after purchasing an additional 368 shares in the last quarter. Clarity Asset Management Inc. purchased a new position in Apple during the fourth quarter worth approximately $85,000. Clear Street Markets LLC boosted its position in Apple by 100.6% during the fourth quarter. Clear Street Markets LLC now owns 483 shares of the iPhone maker’s stock worth $93,000 after purchasing an additional 83,965 shares in the last quarter. Finally, Access Investment Management LLC purchased a new position in Apple during the first quarter worth approximately $140,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Trading Up 1.7 %

Shares of AAPL stock opened at $229.54 on Thursday. The firm’s 50 day moving average price is $223.10 and its two-hundred day moving average price is $204.97. 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 Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. The stock has a market cap of $3.52 trillion, a price-to-earnings ratio of 35.70, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The company 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 period in the prior year, the company posted $1.26 EPS. On average, analysts anticipate that Apple Inc. will post 6.7 EPS for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date 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 (DPR) is presently 15.55%.

Insider Transactions at Apple

In other Apple news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction on Friday, August 9th. The stock was 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 owns 24,125 shares of the company’s stock, valued at $5,223,062.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 517,924 shares of company stock valued at $114,786,399. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on AAPL. Raymond James raised their target price on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Wedbush reiterated an “outperform” rating and issued a $285.00 target price on shares of Apple in a report on Monday, September 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price target on shares of Apple in a report on Thursday, September 19th. Jefferies Financial Group downgraded Apple from a “buy” rating to a “hold” rating and boosted their target price for the company from $205.00 to $212.92 in a report on Monday. Finally, Erste Group Bank upgraded Apple from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $239.27.

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.