Apple Inc. (NASDAQ:AAPL) Position Lowered by Wallace Advisory Group LLC

Wallace Advisory Group LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 16.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,331 shares of the iPhone maker’s stock after selling 2,400 shares during the period. Apple makes up approximately 2.0% of Wallace Advisory Group LLC’s portfolio, making the stock its 8th biggest position. Wallace Advisory Group LLC’s holdings in Apple were worth $2,873,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Swedbank AB acquired a new position in shares of Apple during the first quarter worth about $3,026,492,000. Strategic Financial Concepts LLC grew its holdings in Apple by 14,145.8% during the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after acquiring an additional 7,558,826 shares during the period. Canada Pension Plan Investment Board grew its holdings in Apple by 158.3% in the first 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 grew its holdings in Apple by 161.2% in the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock valued at $1,502,068,000 after purchasing an additional 5,405,542 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in Apple in the second quarter valued at $834,368,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction dated 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 sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 408,170 shares of company stock valued at $92,007,745 in the last 90 days. 0.06% of the stock is currently owned by company insiders.

Apple Stock Down 0.2 %

Shares of AAPL opened at $228.44 on Friday. The firm has a market capitalization 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 company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The business’s fifty day moving average price is $227.59 and its two-hundred day moving average price is $217.47. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same period last year, the company earned $1.46 EPS. The firm’s revenue was up 6.1% on a year-over-year basis. On average, analysts predict that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Barclays decreased their price objective on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, November 1st. Needham & Company LLC restated a “buy” rating and issued a $260.00 price objective on shares of Apple in a report on Friday, November 1st. Maxim Group increased their target price on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Evercore ISI restated a “buy” rating and set a $250.00 price objective on shares of Apple in a research note on Thursday, September 26th. Finally, The Goldman Sachs Group boosted their price target on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $235.25.

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.