Apple Inc. (NASDAQ:AAPL) Stock Holdings Lessened by ACT Wealth Management LLC

ACT Wealth Management LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 4.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,852 shares of the iPhone maker’s stock after selling 1,146 shares during the period. Apple accounts for about 2.9% of ACT Wealth Management LLC’s holdings, making the stock its 10th biggest position. ACT Wealth Management LLC’s holdings in Apple were worth $6,489,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. Gill Capital Partners LLC raised its stake in shares of Apple by 1.4% during the 3rd quarter. Gill Capital Partners LLC now owns 12,335 shares of the iPhone maker’s stock worth $2,874,000 after buying an additional 171 shares in the last quarter. Strategic Wealth Partners Ltd. raised its position in Apple by 4.1% during the third quarter. Strategic Wealth Partners Ltd. now owns 113,938 shares of the iPhone maker’s stock worth $26,547,000 after acquiring an additional 4,503 shares during the last quarter. Pathway Financial Advisors LLC raised its position in shares of Apple by 1.5% during the 3rd quarter. Pathway Financial Advisors LLC now owns 21,556 shares of the iPhone maker’s stock worth $5,023,000 after purchasing an additional 313 shares during the last quarter. Rockingstone Advisors LLC lifted its stake in Apple by 0.3% in the 3rd quarter. Rockingstone Advisors LLC now owns 24,577 shares of the iPhone maker’s stock valued at $5,726,000 after buying an additional 85 shares in the last quarter. Finally, Hoxton Planning & Management LLC grew its holdings in Apple by 6.8% during the 3rd quarter. Hoxton Planning & Management LLC now owns 27,661 shares of the iPhone maker’s stock valued at $6,445,000 after buying an additional 1,751 shares during the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Oppenheimer reaffirmed a “buy” rating and set a $250.00 price objective on shares of Apple in a research note on Tuesday, October 1st. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a research note on Friday, October 25th. UBS Group boosted their price objective on shares of Apple to $236.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Piper Sandler reissued a “neutral” rating and set a $225.00 price objective on shares of Apple in a research note on Wednesday, October 9th. Finally, The Goldman Sachs Group lifted their target price on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Two investment 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.25.

Apple Stock Up 0.9 %

Shares of NASDAQ:AAPL opened at $235.06 on Wednesday. The firm has a 50 day simple moving average of $228.43 and a 200 day simple moving average of $219.01. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. 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 company has a market cap of $3.55 trillion, a PE ratio of 38.66, a price-to-earnings-growth ratio of 2.25 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 EPS. As a group, research analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors 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 annualized dividend and a yield of 0.43%. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Insiders Place Their Bets

In other news, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction on 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 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 disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock valued at $92,007,745 over the last 90 days. 0.06% of the stock is currently owned by company insiders.

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.