Apple Inc. (NASDAQ:AAPL) Stock Position Trimmed by High Note Wealth LLC

High Note Wealth LLC trimmed its position in Apple Inc. (NASDAQ:AAPL) by 0.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,822 shares of the iPhone maker’s stock after selling 128 shares during the quarter. Apple comprises 5.2% of High Note Wealth LLC’s holdings, making the stock its 5th largest position. High Note Wealth LLC’s holdings in Apple were worth $18,133,000 at the end of the most recent quarter.

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

Apple Trading Up 0.9 %

Shares of Apple stock opened at $235.06 on Wednesday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The business’s fifty day moving average is $228.43 and its two-hundred day moving average is $219.01. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The firm has a market cap of $3.55 trillion, a PE ratio of 38.66, a P/E/G ratio of 2.25 and a beta of 1.24.

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

Apple Dividend Announcement

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

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of analyst reports. Maxim Group boosted their price target on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday, November 1st. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and raised their price target for the company from $205.00 to $212.92 in a research report on Monday, October 7th. Morgan Stanley reissued an “overweight” rating and set a $273.00 target price on shares of Apple in a research note on Monday. Finally, Oppenheimer restated a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Tuesday, October 1st. 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 given a strong buy rating to the stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus price target of $235.25.

Insider Activity

In other news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This trade represents a 35.49 % 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 worth $92,007,745 over the last 90 days. Company insiders own 0.06% of the company’s stock.

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.