Westwood Wealth Management Sells 30,522 Shares of Apple Inc. (NASDAQ:AAPL)

Westwood Wealth Management reduced its stake in Apple Inc. (NASDAQ:AAPL) by 18.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 132,226 shares of the iPhone maker’s stock after selling 30,522 shares during the period. Apple makes up approximately 10.4% of Westwood Wealth Management’s holdings, making the stock its 2nd largest holding. Westwood Wealth Management’s holdings in Apple were worth $27,849,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of AAPL. Dimensional Fund Advisors LP lifted its holdings in Apple by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock worth $11,160,183,000 after buying an additional 2,785,807 shares in the last quarter. Capital International Investors raised its stake in shares of Apple by 7.1% during the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after buying an additional 2,474,887 shares during the last quarter. American Century Companies Inc. raised its position in shares of Apple by 3.2% during the 2nd quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after acquiring an additional 1,065,759 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Apple by 1.7% in the 1st quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock valued at $5,061,296,000 after purchasing an additional 485,873 shares during the period. Finally, Swedbank AB boosted its position in shares of Apple by 13.4% in the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after purchasing an additional 2,359,409 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors.

Insider Activity at Apple

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 transaction, the chief financial officer now 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction on Friday, October 4th. The shares were 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 approximately $24,416,137.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 412,746 shares of company stock valued at $93,021,362 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the subject of several recent analyst reports. Moffett Nathanson initiated coverage on Apple in a report on Monday, August 19th. They issued a “neutral” rating and a $211.00 price target for the company. KeyCorp lowered shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective on the stock. in a research report on Friday, October 25th. Bank of America reissued a “buy” rating and set a $256.00 target price on shares of Apple in a report on Thursday, October 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Apple in a research note on Friday, November 1st. Finally, TD Cowen raised their target price on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has given 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 price target of $235.51.

Apple Price Performance

Shares of NASDAQ AAPL opened at $224.23 on Tuesday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The firm 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. The firm’s 50-day moving average price is $226.82 and its 200-day moving average price is $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 (NASDAQ:AAPL) last released its quarterly earnings data 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. 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 the consensus estimate of $94.52 billion. During the same quarter in the prior year, the company posted $1.46 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. Equities research analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal 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. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date is Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

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.