Apple Inc. (NASDAQ:AAPL) Position Decreased by ZRC Wealth Management LLC

ZRC Wealth Management LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,541 shares of the iPhone maker’s stock after selling 232 shares during the quarter. Apple makes up 3.2% of ZRC Wealth Management LLC’s portfolio, making the stock its 8th largest holding. ZRC Wealth Management LLC’s holdings in Apple were worth $7,349,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Fidelis Capital Partners LLC grew its holdings in 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 purchasing an additional 31,278 shares during the last quarter. Hershey Financial Advisers LLC purchased a new stake in Apple in the 2nd quarter valued at about $42,000. Access Investment Management LLC purchased a new stake in Apple in the 1st quarter valued at about $140,000. Hoese & Co LLP lifted its position in shares of 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. Finally, Sage Financial Group Inc. purchased a new stake in shares of Apple in the 2nd quarter worth approximately $206,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Analyst Ratings Changes

AAPL has been the topic of several recent research reports. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. UBS Group increased their target price on shares of Apple to $236.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Monness Crespi & Hardt restated a “buy” rating and set a $245.00 price objective on shares of Apple in a research report on Monday, September 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Apple in a research note on Friday, November 1st. Finally, Rosenblatt Securities boosted their target price on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $235.25.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $228.44 on Friday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The stock has a market cap of $3.45 trillion, a price-to-earnings ratio of 37.57, a PEG ratio of 2.24 and a beta of 1.24. The stock’s 50 day moving average price is $227.59 and its 200 day moving average price is $217.47. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

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. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the previous year, the business earned $1.46 EPS. The company’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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Insider Activity

In related news, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $111,148,695.84. This represents a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock worth $92,007,745 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Apple Company 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.