SYSTM Wealth Solutions LLC Has $7.31 Million Stake in Apple Inc. (NASDAQ:AAPL)

SYSTM Wealth Solutions LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 33.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,705 shares of the iPhone maker’s stock after selling 17,188 shares during the quarter. Apple accounts for 1.6% of SYSTM Wealth Solutions LLC’s investment portfolio, making the stock its 10th largest position. SYSTM Wealth Solutions LLC’s holdings in Apple were worth $7,310,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Fidelis Capital Partners LLC lifted its position in shares of Apple by 17.9% during the 1st 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 bought a new position in Apple in the 1st quarter worth about $140,000. Hoese & Co LLP boosted its stake in 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 purchasing an additional 57 shares during the period. Sage Financial Group Inc. bought a new position in Apple in the 2nd quarter worth about $206,000. Finally, Benchmark Wealth Management LLC bought a new position in Apple in the 2nd quarter worth about $208,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling at Apple

In related news, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the transaction, the senior vice president now owns 187,043 shares in the company, valued at $42,309,126.60. The trade was 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. In related news, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the sale, the senior vice president now directly owns 187,043 shares in the company, valued at approximately $42,309,126.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 417,924 shares of company stock worth $94,142,399. Insiders own 0.06% of the company’s stock.

Apple Trading Up 0.6 %

AAPL opened at $223.45 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $3.40 trillion, a P/E ratio of 36.75, a PEG ratio of 2.39 and a beta of 1.24. The stock’s fifty day moving average is $226.98 and its two-hundred day moving average is $213.44. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.46 EPS. Analysts forecast that Apple Inc. will post 7.45 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 paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. Apple’s payout ratio is currently 16.45%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Needham & Company LLC restated a “buy” rating and issued a $260.00 target price on shares of Apple in a research note on Friday, November 1st. Cfra lifted their price target on Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Piper Sandler Companies reiterated a “neutral” rating and set a $225.00 price target (up previously from $190.00) on shares of Apple in a research report on Tuesday, July 9th. Finally, Rosenblatt Securities lifted their price target on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two 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 presently has an average rating of “Moderate Buy” and a consensus price target 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.