Endowment Wealth Management Inc. Sells 220 Shares of Apple Inc. (NASDAQ:AAPL)

Endowment Wealth Management Inc. decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 4.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,625 shares of the iPhone maker’s stock after selling 220 shares during the quarter. Endowment Wealth Management Inc.’s holdings in Apple were worth $974,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. M3 Advisory Group LLC purchased a new stake in shares of Apple in the fourth quarter valued at $2,339,000. Accent Capital Management LLC purchased a new stake in shares of Apple in the fourth quarter valued at $19,428,000. Warren Street Wealth Advisors LLC increased its stake in Apple by 10.3% in the 4th quarter. Warren Street Wealth Advisors LLC now owns 16,665 shares of the iPhone maker’s stock worth $3,208,000 after buying an additional 1,557 shares during the period. Financial Life Advisors purchased a new position in Apple in the 4th quarter worth about $212,000. Finally, Cooksen Wealth LLC purchased a new position in Apple in the 4th quarter worth about $706,000. Institutional investors own 60.41% of the company’s stock.

Apple Price Performance

Shares of AAPL opened at $231.78 on Thursday. The company has a market cap of $3.55 trillion, a P/E ratio of 36.05, a PEG ratio of 2.40 and a beta of 1.24. The stock has a fifty day moving average price of $225.03 and a 200 day moving average price of $207.22. 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 12 month low of $164.07 and a 12 month high of $237.49.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.26 earnings per share. On average, research analysts forecast that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Dividend Announcement

The company also recently disclosed 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 was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s dividend payout ratio (DPR) is 15.55%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Tigress Financial raised their target price on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. Barclays reaffirmed an “underweight” rating and issued a $186.00 price objective on shares of Apple in a research report on Tuesday, October 1st. Oppenheimer reissued a “buy” rating and set a $250.00 target price on shares of Apple in a research report on Tuesday, October 1st. Melius Research reissued a “buy” rating and set a $265.00 target price on shares of Apple in a research report on Tuesday, August 27th. Finally, Maxim Group restated a “hold” rating and set a $203.00 price objective on shares of Apple in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $239.27.

Insider Activity

In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was 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 directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Apple news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 517,924 shares of company stock valued at $114,786,399 over the last three months. Insiders own 0.06% of the company’s stock.

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.