FRG Family Wealth Advisors LLC Sells 247 Shares of Apple Inc. (NASDAQ:AAPL)

FRG Family Wealth Advisors LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 0.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 99,527 shares of the iPhone maker’s stock after selling 247 shares during the period. Apple comprises 3.0% of FRG Family Wealth Advisors LLC’s investment portfolio, making the stock its 7th biggest holding. FRG Family Wealth Advisors LLC’s holdings in Apple were worth $20,625,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in AAPL. Verus Financial Partners Inc. boosted its stake in shares of Apple by 0.3% during the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after acquiring an additional 48 shares in the last quarter. Brown Financial Advisory lifted its holdings in shares of Apple by 3.8% during the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after purchasing an additional 50 shares during the last quarter. Core Wealth Management Inc. boosted its position in shares of Apple by 1.7% in the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after purchasing an additional 50 shares during the period. Lowery Thomas LLC increased its stake in Apple by 0.7% in the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after purchasing an additional 50 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. raised its holdings in Apple by 1.1% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after buying an additional 51 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AAPL has been the topic of several analyst reports. Piper Sandler Companies reissued a “neutral” rating and issued a $225.00 target price (up from $190.00) on shares of Apple in a research report on Tuesday, July 9th. Evercore ISI reissued a “buy” rating and set a $250.00 target price on shares of Apple in a research note on Thursday, September 26th. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price for the company. in a research report on Friday. Oppenheimer reissued a “buy” rating and set a $250.00 price target on shares of Apple in a research report on Tuesday, October 1st. Finally, Bank of America restated a “buy” rating and set a $256.00 price objective on shares of Apple in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $235.91.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 100,000 shares of the 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 directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Apple news, insider Chris Kondo sold 5,178 shares of the company’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 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Katherine L. Adams sold 100,000 shares of Apple 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 sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 517,924 shares of company stock valued at $114,786,399 in the last three months. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

NASDAQ AAPL opened at $231.41 on Monday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The company has a fifty day simple moving average of $226.86 and a 200 day simple moving average of $210.64. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The company has a market cap of $3.55 trillion, a P/E ratio of 35.99, a P/E/G ratio of 2.40 and a beta of 1.24.

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, beating analysts’ consensus estimates 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 net margin of 26.44% and a return on equity of 147.15%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.26 earnings per share. On average, sell-side analysts predict that Apple Inc. will post 6.65 EPS for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio (DPR) is currently 15.55%.

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.