Apple Inc. (NASDAQ:AAPL) Shares Sold by Chemistry Wealth Management LLC

Chemistry Wealth Management LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 6.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 140,268 shares of the iPhone maker’s stock after selling 9,171 shares during the quarter. Apple comprises about 7.7% of Chemistry Wealth Management LLC’s portfolio, making the stock its 3rd biggest position. Chemistry Wealth Management LLC’s holdings in Apple were worth $32,682,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AAPL. Swedbank AB bought a new position in shares of Apple in the first quarter valued at $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 boosted its stake in Apple by 161.2% during the 1st 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 bought a new stake in Apple during the 2nd quarter worth approximately $834,368,000. Institutional investors own 60.41% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on AAPL. Melius Research reaffirmed a “buy” rating and set a $265.00 target price on shares of Apple in a research report on Tuesday, August 27th. The Goldman Sachs Group lifted their price objective on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Moffett Nathanson lowered their target price on shares of Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a report on Tuesday. Citigroup boosted their price target on shares of Apple to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Oppenheimer reiterated a “buy” rating and issued a $250.00 price objective on shares of Apple in a research note on Tuesday, October 1st. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $235.25.

Insider Activity at Apple

In related news, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This represents a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 of the company’s stock, valued at approximately $42,309,126.60. This trade represents a 24.60 % 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 over the last three months. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

NASDAQ AAPL opened at $229.87 on Friday. The company’s 50 day simple moving average is $227.73 and its two-hundred day simple moving average is $217.81. The stock has a market capitalization of $3.47 trillion, a PE ratio of 37.81, a P/E/G ratio of 2.24 and a beta of 1.24. 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 Inc. has a 1 year low of $164.07 and a 1 year high of $237.49.

Apple (NASDAQ:AAPL) last posted 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. The company had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned $1.46 earnings per share. Analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a $0.25 dividend. 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 (DPR) is 16.45%.

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.