Apple Inc. (NASDAQ:AAPL) Shares Sold by Seven Springs Wealth Group LLC

Seven Springs Wealth Group LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 1.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,099 shares of the iPhone maker’s stock after selling 156 shares during the quarter. Apple comprises about 1.2% of Seven Springs Wealth Group LLC’s investment portfolio, making the stock its 20th biggest position. Seven Springs Wealth Group LLC’s holdings in Apple were worth $2,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. MayTech Global Investments LLC raised its holdings in shares of Apple by 3.7% during the fourth quarter. MayTech Global Investments LLC now owns 166,262 shares of the iPhone maker’s stock valued at $32,010,000 after buying an additional 5,980 shares during the last quarter. Cohen & Steers Inc. raised its stake in Apple by 6.8% during the 4th quarter. Cohen & Steers Inc. now owns 12,033 shares of the iPhone maker’s stock valued at $2,317,000 after acquiring an additional 763 shares in the last quarter. Coatue Management LLC acquired a new position in Apple during the 4th quarter worth $470,614,000. Clear Street Markets LLC grew its stake in shares of Apple by 100.6% in 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, Brevan Howard Capital Management LP grew its stake in shares of Apple by 553.4% in the fourth quarter. Brevan Howard Capital Management LP now owns 48,608 shares of the iPhone maker’s stock worth $9,358,000 after purchasing an additional 41,169 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Trading Down 0.2 %

AAPL opened at $229.04 on Friday. The firm has a market capitalization of $3.51 trillion, a PE ratio of 35.62, a P/E/G ratio of 2.66 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. The company’s 50-day moving average is $223.25 and its 200 day moving average is $205.14.

Apple (NASDAQ:AAPL) last posted 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. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same period in the previous year, the firm earned $1.26 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, research analysts predict that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced 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 was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s dividend payout ratio is presently 15.55%.

Insider Transactions at Apple

In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the transaction, the chief operating officer now owns 489,944 shares in the company, valued at $111,148,695.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. 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 is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the sale, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $111,148,695.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 517,924 shares of company stock worth $114,786,399 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AAPL shares. New Street Research restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, September 25th. Robert W. Baird upped their price objective on Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Loop Capital raised Apple from a “hold” rating to a “buy” rating and lifted their target price for the stock from $170.00 to $300.00 in a report on Monday, July 15th. Citigroup reissued a “buy” rating and issued a $255.00 price target on shares of Apple in a report on Wednesday, October 2nd. Finally, Melius Research reaffirmed a “buy” rating and issued a $265.00 price objective on shares of Apple in a research note on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $239.27.

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.