Apple Inc. (NASDAQ:AAPL) Shares Sold by White Wing Wealth Management

White Wing Wealth Management lowered its stake in Apple Inc. (NASDAQ:AAPL) by 1.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 8,062 shares of the iPhone maker’s stock after selling 81 shares during the quarter. Apple accounts for about 1.4% of White Wing Wealth Management’s portfolio, making the stock its 11th biggest holding. White Wing Wealth Management’s holdings in Apple were worth $1,878,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AAPL. Swedbank AB purchased a new stake in Apple during the 1st quarter worth approximately $3,026,492,000. Strategic Financial Concepts LLC boosted its stake in shares of Apple by 14,145.8% in 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 last quarter. Canada Pension Plan Investment Board boosted its stake in shares of 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 worth $1,977,582,000 after acquiring an additional 7,067,379 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Apple by 161.2% during the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock worth $1,502,068,000 after purchasing an additional 5,405,542 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new position in Apple in the 2nd quarter valued at $834,368,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and upped their target price for the stock from $205.00 to $212.92 in a report on Monday, October 7th. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price on the stock. in a report on Friday, October 25th. Morgan Stanley reiterated an “overweight” rating and set a $273.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.25.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction dated 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 directly owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on 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 owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 6.39 % 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 ninety days. Insiders own 0.06% of the company’s stock.

Apple Stock Up 0.6 %

Shares of NASDAQ AAPL opened at $229.87 on Monday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The firm’s 50-day moving average is $227.73 and its two-hundred day moving average is $218.30. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The company has a market capitalization of $3.47 trillion, a PE ratio of 37.81, a price-to-earnings-growth ratio of 2.24 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings results 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 return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter last year, the business posted $1.46 earnings per share. Apple’s revenue was up 6.1% compared to the same quarter last year. Equities analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is 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.