MGO Private Wealth LLC Cuts Position in Apple Inc. (NASDAQ:AAPL)

MGO Private Wealth LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,198 shares of the iPhone maker’s stock after selling 546 shares during the quarter. Apple comprises about 3.5% of MGO Private Wealth LLC’s portfolio, making the stock its 9th largest position. MGO Private Wealth LLC’s holdings in Apple were worth $5,518,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Capital International Investors grew its position in Apple by 7.1% in the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after acquiring an additional 2,474,887 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Apple by 1.7% during the first quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock worth $5,061,296,000 after purchasing an additional 485,873 shares during the last quarter. Swedbank AB boosted its stake in shares of Apple by 13.4% during the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after purchasing an additional 2,359,409 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Apple by 16.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker’s stock worth $3,085,427,000 after purchasing an additional 2,594,138 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in Apple by 2.5% in the 1st quarter. Nordea Investment Management AB now owns 17,247,950 shares of the iPhone maker’s stock worth $2,951,297,000 after buying an additional 415,186 shares during the period. Institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

AAPL opened at $235.00 on Friday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The company has a market cap of $3.60 trillion, a P/E ratio of 36.55, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The firm’s 50-day moving average price is $225.78 and its 200-day moving average price is $208.11.

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, beating the consensus estimate 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 quarter in the prior year, the company posted $1.26 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, equities analysts anticipate that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Announces Dividend

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

Insider Buying and Selling

In related news, 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 value of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. 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. Also, 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 completion of the sale, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on AAPL. Evercore ISI restated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Thursday, September 26th. Moffett Nathanson began coverage on Apple in a report on Monday, August 19th. They issued a “neutral” rating and a $211.00 price target for the company. Cfra raised their price objective on Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Rosenblatt Securities reiterated a “buy” rating and issued a $261.00 target price on shares of Apple in a report on Tuesday, September 10th. Finally, The Goldman Sachs Group increased their price target on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One equities research 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently 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.