Financial Perspectives Inc Sells 445 Shares of Apple Inc. (NASDAQ:AAPL)

Financial Perspectives Inc lessened its stake in Apple Inc. (NASDAQ:AAPL) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,778 shares of the iPhone maker’s stock after selling 445 shares during the quarter. Apple comprises approximately 5.0% of Financial Perspectives Inc’s investment portfolio, making the stock its 5th biggest holding. Financial Perspectives Inc’s holdings in Apple were worth $13,433,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Access Investment Management LLC bought a new stake in shares of Apple during the first quarter worth approximately $140,000. Hoese & Co LLP boosted its stake 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. acquired a new stake in Apple during the 2nd quarter worth $206,000. Benchmark Wealth Management LLC bought a new stake in shares of Apple during the 2nd quarter valued at $208,000. Finally, Sequent Asset Management LLC bought a new stake in shares of Apple during the 2nd quarter valued at $214,000. 60.41% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Luca Maestri sold 59,305 shares of the business’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 owns 107,788 shares of the company’s stock, valued at $24,416,137.76. The trade was 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 this link. In related news, CEO Timothy D. Cook sold 223,986 shares of the firm’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 sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Luca Maestri sold 59,305 shares of the business’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 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is currently owned by company insiders.

Apple Stock Down 1.3 %

AAPL stock opened at $222.91 on Friday. The business’s fifty day moving average price is $227.18 and its two-hundred day moving average price is $212.33. The stock has a market capitalization of $3.39 trillion, a price-to-earnings ratio of 33.93, a PEG ratio of 2.45 and a beta of 1.24. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.15. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter in the previous year, the firm posted $1.46 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts anticipate that Apple Inc. will post 6.6 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be issued a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.45%. Apple’s dividend payout ratio is presently 15.22%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several recent research reports. JPMorgan Chase & Co. restated an “overweight” rating and issued a $265.00 price target on shares of Apple in a research report on Tuesday, September 10th. Raymond James raised their target price on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Oppenheimer reaffirmed a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Tuesday, October 1st. Monness Crespi & Hardt reiterated a “buy” rating and issued a $245.00 price target on shares of Apple in a research report on Monday, September 9th. Finally, Evercore ISI restated a “buy” rating and set a $250.00 price objective on shares of Apple in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $236.23.

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.