Apple Inc. (NASDAQ:AAPL) Shares Sold by Solano Wealth Management Inc.

Solano Wealth Management Inc. trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 27.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,707 shares of the iPhone maker’s stock after selling 1,751 shares during the period. Apple accounts for 0.5% of Solano Wealth Management Inc.’s holdings, making the stock its 18th biggest position. Solano Wealth Management Inc.’s holdings in Apple were worth $991,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brown Financial Advisory boosted its stake in Apple by 3.8% in the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after purchasing an additional 50 shares in the last quarter. Core Wealth Management Inc. increased its stake in Apple by 1.7% during the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after purchasing an additional 50 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. boosted its stake in Apple by 1.1% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after purchasing an additional 51 shares during the period. Foresight Capital Management Advisors Inc. boosted its stake in Apple by 0.3% in the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock worth $4,003,000 after purchasing an additional 55 shares during the period. Finally, Altus Wealth Management LLC lifted its position in Apple by 0.6% during the 2nd quarter. Altus Wealth Management LLC now owns 9,508 shares of the iPhone maker’s stock worth $2,002,000 after buying an additional 55 shares in the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 approximately $5,223,062.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 517,924 shares of company stock valued at $114,786,399. Insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL opened at $227.55 on Friday. The stock has a market cap of $3.49 trillion, a price-to-earnings ratio of 35.39, a PEG ratio of 2.40 and a beta of 1.24. Apple Inc. has a 1 year low of $164.07 and a 1 year 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. The stock has a fifty day moving average price of $223.62 and a 200 day moving average price of $205.70.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results 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. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter in the previous year, the firm earned $1.26 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Analysts forecast that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors 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 dividend yield of 0.44%. Apple’s dividend payout ratio is presently 15.55%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $245.00 target price on shares of Apple in a report on Monday, September 9th. Raymond James increased their price target on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Moffett Nathanson initiated coverage on shares of Apple in a research note on Monday, August 19th. They set a “neutral” rating and a $211.00 price target for the company. Robert W. Baird lifted their target price on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and raised their price target for the stock from $205.00 to $212.92 in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company 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.