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

Udine Wealth Management Inc. reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,938 shares of the iPhone maker’s stock after selling 2,181 shares during the quarter. Apple accounts for approximately 13.1% of Udine Wealth Management Inc.’s portfolio, making the stock its 2nd largest holding. Udine Wealth Management Inc.’s holdings in Apple were worth $18,626,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Hershey Financial Advisers LLC acquired a new stake in Apple during the 2nd quarter valued at $42,000. Hoese & Co LLP boosted its stake in shares of Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares during the last quarter. Sage Financial Group Inc. purchased a new stake in Apple during the 2nd quarter worth about $206,000. Benchmark Wealth Management LLC acquired a new position in Apple in the 2nd quarter valued at about $208,000. Finally, SMH Capital Advisors Inc. purchased a new position in Apple in the 2nd quarter valued at about $209,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AAPL shares. Piper Sandler restated a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. Loop Capital lowered their price objective on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, November 4th. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Wedbush reissued an “outperform” rating and issued a $285.00 price target on shares of Apple in a research note on Monday, September 9th. Finally, KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective for the company. in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.25.

Insider Buying and Selling

In related news, 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 value of $945,233.10. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed 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 stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

AAPL stock opened at $232.87 on Tuesday. The firm has a 50 day moving average of $228.06 and a two-hundred day moving average of $218.64. 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 $3.52 trillion, a price-to-earnings ratio of 38.30, a P/E/G ratio of 2.25 and a beta of 1.24. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

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, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the prior year, the business earned $1.46 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. As a group, equities analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s payout ratio is 16.45%.

Apple 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.