Vance Wealth Inc. Sells 479 Shares of Apple Inc. (NASDAQ:AAPL)

Vance Wealth Inc. trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 1.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 39,802 shares of the iPhone maker’s stock after selling 479 shares during the period. Apple accounts for approximately 3.4% of Vance Wealth Inc.’s holdings, making the stock its 5th largest holding. Vance Wealth Inc.’s holdings in Apple were worth $8,383,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Pursue Wealth Partners LLC lifted its stake in shares of Apple by 4.0% in the 2nd quarter. Pursue Wealth Partners LLC now owns 27,121 shares of the iPhone maker’s stock valued at $5,712,000 after purchasing an additional 1,049 shares in the last quarter. GPM Growth Investors Inc. acquired a new position in shares of Apple in the 2nd quarter valued at about $11,158,000. PACK Private Wealth LLC lifted its stake in shares of Apple by 4.7% in the 2nd quarter. PACK Private Wealth LLC now owns 2,700 shares of the iPhone maker’s stock valued at $569,000 after purchasing an additional 121 shares in the last quarter. Sage Financial Group Inc. acquired a new position in shares of Apple in the 2nd quarter valued at about $206,000. Finally, Belpointe Asset Management LLC lifted its stake in shares of Apple by 1.1% in the 2nd quarter. Belpointe Asset Management LLC now owns 362,722 shares of the iPhone maker’s stock valued at $76,397,000 after purchasing an additional 4,089 shares in the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several recent research reports. Raymond James boosted their price target on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. The Goldman Sachs Group boosted 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. Robert W. Baird boosted their price target on Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Cfra boosted their price target on Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Bank of America reissued a “buy” rating and set a $256.00 price target on shares of Apple in a research report on Thursday, October 3rd. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $239.27.

Insider Activity at Apple

In related news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction on Friday, October 4th. The stock was 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 of the company’s stock, valued at approximately $24,416,137.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. 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, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 517,924 shares of company stock valued at $114,786,399. Company insiders own 0.06% of the company’s stock.

Apple Trading Up 1.2 %

Shares of Apple stock opened at $235.00 on Friday. 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 firm has a market cap of $3.60 trillion, a price-to-earnings ratio of 36.55, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The business has a fifty day simple moving average of $225.78 and a 200-day simple moving average of $208.11. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49.

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, topping 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 revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.26 earnings per share. On average, equities analysts forecast 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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s payout ratio is 15.55%.

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.