Prentice Wealth Management LLC Sells 201 Shares of Apple Inc. (NASDAQ:AAPL)

Prentice Wealth Management LLC decreased its stake in Apple Inc. (NASDAQ:AAPL) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,648 shares of the iPhone maker’s stock after selling 201 shares during the period. Apple comprises about 0.8% of Prentice Wealth Management LLC’s holdings, making the stock its 21st largest holding. Prentice Wealth Management LLC’s holdings in Apple were worth $2,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Granite Investment Partners LLC lifted its stake in Apple by 2.7% in the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after purchasing an additional 7,606 shares during the last quarter. Truist Financial Corp raised its stake in shares of Apple by 1.8% during the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after acquiring an additional 126,210 shares during the last quarter. EP Wealth Advisors LLC raised its stake in shares of Apple by 5.2% during the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock valued at $406,099,000 after acquiring an additional 95,235 shares during the last quarter. Bellwether Advisors LLC raised its stake in shares of Apple by 387.3% during the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock valued at $5,128,000 after acquiring an additional 19,352 shares during the last quarter. Finally, Gentry Private Wealth LLC bought a new position in shares of Apple during the second quarter valued at $876,000. Institutional investors own 60.41% of the company’s stock.

Apple Stock Up 0.6 %

Shares of NASDAQ AAPL opened at $229.87 on Friday. The stock has a market capitalization of $3.47 trillion, a P/E ratio of 37.81, a P/E/G ratio of 2.24 and a beta of 1.24. The company has a 50-day moving average price of $227.73 and a 200-day moving average price of $217.81. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. 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 issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the company earned $1.46 earnings per share. On average, equities research analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

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

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 6.39 % decrease in their ownership of the stock. 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 ninety days. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on AAPL. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price target on shares of Apple in a research note on Friday, November 1st. Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 price target on shares of Apple in a research note on Tuesday, September 10th. Oppenheimer reaffirmed a “buy” rating and set a $250.00 price target on shares of Apple in a research note on Tuesday, October 1st. The Goldman Sachs Group increased their price objective on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Bank of America reiterated a “buy” rating and set a $256.00 price objective on shares of Apple in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.