MA Private Wealth Reduces Stock Position in Apple Inc. (NASDAQ:AAPL)

MA Private Wealth decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,756 shares of the iPhone maker’s stock after selling 358 shares during the quarter. Apple comprises 0.6% of MA Private Wealth’s holdings, making the stock its 25th largest position. MA Private Wealth’s holdings in Apple were worth $2,897,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Access Investment Management LLC acquired a new stake in shares of Apple during the 1st quarter worth approximately $140,000. Hoese & Co LLP lifted its holdings in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares during the last quarter. Sage Financial Group Inc. purchased a new stake in Apple in the second quarter valued at $206,000. Benchmark Wealth Management LLC acquired a new position in shares of Apple in the 2nd quarter valued at $208,000. Finally, Sequent Asset Management LLC purchased a new position in shares of Apple during the 2nd quarter worth $214,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Performance

Shares of AAPL opened at $235.00 on Monday. The company has a market capitalization 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. 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 stock has a 50 day moving average price of $225.78 and a 200 day moving average price of $208.38.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating analysts’ consensus estimates 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 period last year, the firm posted $1.26 EPS. The company’s revenue was up 4.9% on a year-over-year basis. Research analysts predict that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AAPL shares. Morgan Stanley restated an “overweight” rating and issued a $273.00 price objective on shares of Apple in a report on Tuesday, September 10th. Rosenblatt Securities restated a “buy” rating and issued a $261.00 price objective on shares of Apple in a report on Tuesday, September 10th. Loop Capital upgraded shares of Apple from a “hold” rating to a “buy” rating and lifted their target price for the company from $170.00 to $300.00 in a report on Monday, July 15th. UBS Group reissued a “hold” rating and issued a $236.00 target price on shares of Apple in a research report on Wednesday, October 16th. Finally, New Street Research restated a “neutral” rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, September 25th. One investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.27.

Insider Activity

In related news, 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 sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Luca Maestri sold 59,305 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the sale, the chief financial officer now owns 107,788 shares in the company, valued at $24,416,137.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was 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 $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 517,924 shares of company stock valued at $114,786,399. Insiders own 0.06% of the company’s stock.

Apple 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.