Apple Inc. (NASDAQ:AAPL) is 9258 Wealth Management LLC’s 4th Largest Position

9258 Wealth Management LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 2.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 106,870 shares of the iPhone maker’s stock after selling 2,835 shares during the period. Apple makes up about 3.5% of 9258 Wealth Management LLC’s holdings, making the stock its 4th largest holding. 9258 Wealth Management LLC’s holdings in Apple were worth $22,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC lifted its position in Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after buying an additional 31,278 shares during the last quarter. Access Investment Management LLC purchased a new stake in shares of Apple in the 1st quarter valued at approximately $140,000. Hoese & Co LLP lifted its holdings in shares of Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after acquiring an additional 57 shares during the last quarter. Sage Financial Group Inc. purchased a new position in shares of Apple during the 2nd quarter worth approximately $206,000. Finally, Benchmark Wealth Management LLC acquired a new stake in Apple in the 2nd quarter valued at approximately $208,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other 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 sale, the senior vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction that occurred on 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 owns 24,125 shares of the company’s stock, valued at $5,223,062.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 517,924 shares of company stock valued at $114,786,399 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AAPL has been the subject of several research analyst reports. Loop Capital upgraded Apple from a “hold” rating to a “buy” rating and raised their price target for the stock from $170.00 to $300.00 in a research report on Monday, July 15th. Barclays reissued an “underweight” rating and set a $186.00 price target on shares of Apple in a research report on Tuesday, October 1st. Wedbush restated an “outperform” rating and issued a $285.00 price objective on shares of Apple in a report on Monday, September 9th. The Goldman Sachs Group increased their target price on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Cfra upped their target price on shares of Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $239.27.

Apple Price Performance

Apple stock opened at $235.00 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The business has a 50 day simple moving average of $225.78 and a 200-day simple moving average of $208.38. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The stock has a market capitalization of $3.60 trillion, a PE ratio of 36.55, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The company had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. Apple’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.26 EPS. Equities analysts predict that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.43%. Apple’s payout ratio is 15.55%.

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.