Wescott Financial Advisory Group LLC Sells 2,639 Shares of Apple Inc. (NASDAQ:AAPL)

Wescott Financial Advisory Group LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 4.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,628 shares of the iPhone maker’s stock after selling 2,639 shares during the period. Apple makes up about 1.4% of Wescott Financial Advisory Group LLC’s investment portfolio, making the stock its 15th largest holding. Wescott Financial Advisory Group LLC’s holdings in Apple were worth $11,927,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Swedbank AB bought a new position in shares of Apple in the first quarter worth approximately $3,026,492,000. Strategic Financial Concepts LLC lifted its position in Apple by 14,145.8% in the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after acquiring an additional 7,558,826 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Apple by 158.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after purchasing an additional 7,067,379 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of Apple by 161.2% in the 1st quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock worth $1,502,068,000 after purchasing an additional 5,405,542 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new position in shares of Apple in the second quarter worth $834,368,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $224.23 on Tuesday. The stock has a 50-day moving average price of $226.82 and a 200 day moving average price of $214.68. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The stock has a market capitalization of $3.39 trillion, a P/E ratio of 36.88, a P/E/G ratio of 2.22 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings data 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. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter last year, the business posted $1.46 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities research analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

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

Insider Buying and Selling at Apple

In related news, SVP Katherine L. Adams sold 61,019 shares of the business’s 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the sale, the senior vice president now owns 187,043 shares in the company, valued at $42,309,126.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 412,746 shares of company stock valued at $93,021,362 in the last 90 days. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Melius Research reaffirmed a “buy” rating and set a $265.00 price objective on shares of Apple in a research report on Tuesday, August 27th. Evercore ISI reiterated a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Thursday, September 26th. Barclays lowered their price objective on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. Wedbush reaffirmed an “outperform” rating and issued a $285.00 target price on shares of Apple in a research report on Monday, September 9th. Finally, Oppenheimer reissued a “buy” rating and set a $250.00 price target on shares of Apple in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $235.51.

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.