Madison Wealth Partners Inc Has $7.38 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Madison Wealth Partners Inc cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,052 shares of the iPhone maker’s stock after selling 231 shares during the quarter. Apple accounts for about 2.5% of Madison Wealth Partners Inc’s holdings, making the stock its 9th biggest holding. Madison Wealth Partners Inc’s holdings in Apple were worth $7,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Verus Financial Partners Inc. lifted its stake in Apple by 0.3% during the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after acquiring an additional 48 shares during the period. Brown Financial Advisory increased its holdings in Apple by 3.8% in the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after acquiring an additional 50 shares in the last quarter. Core Wealth Management Inc. increased its holdings in Apple by 1.7% in the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after acquiring an additional 50 shares in the last quarter. Lowery Thomas LLC increased its holdings 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 acquiring an additional 50 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. grew 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 valued at $949,000 after buying an additional 51 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 5,178 shares of the business’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 transaction of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Apple 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 value of $13,433,768.60. Following the completion of the sale, the chief financial officer now directly 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction on Friday, August 9th. The shares were 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 in the company, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 417,924 shares of company stock valued at $94,142,399 in the last three months. 0.06% of the stock is currently owned by company insiders.

Apple Trading Down 0.4 %

Shares of NASDAQ:AAPL opened at $222.01 on Tuesday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The company has a market capitalization of $3.38 trillion, a PE ratio of 36.51, a PEG ratio of 2.41 and a beta of 1.24. The business has a 50 day moving average of $227.07 and a two-hundred day moving average of $213.03. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 145.09% and a net margin of 23.97%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 EPS. As a group, analysts forecast that Apple Inc. will post 7.48 EPS for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Friday, November 8th. Apple’s payout ratio is 16.45%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AAPL shares. TD Cowen raised their target price on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, July 29th. Oppenheimer reiterated a “buy” rating and set a $250.00 target price on shares of Apple in a research report on Tuesday, October 1st. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a research report on Friday. Melius Research restated a “buy” rating and issued a $265.00 price objective on shares of Apple in a report on Tuesday, August 27th. Finally, KeyCorp lowered Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price on the stock. in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $235.51.

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.