Brightwater Advisory LLC Has $2.52 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Brightwater Advisory LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 3.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,810 shares of the iPhone maker’s stock after selling 393 shares during the period. Apple accounts for about 1.9% of Brightwater Advisory LLC’s portfolio, making the stock its 19th biggest holding. Brightwater Advisory LLC’s holdings in Apple were worth $2,519,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Granite Investment Partners LLC raised its holdings 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 acquiring an additional 7,606 shares during the period. Truist Financial Corp grew its position in shares of Apple by 1.8% in 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 purchasing an additional 126,210 shares during the last quarter. EP Wealth Advisors LLC grew its position in shares of Apple by 5.2% in 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 purchasing an additional 95,235 shares during the last quarter. Bellwether Advisors LLC increased 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 worth $5,128,000 after purchasing an additional 19,352 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Apple by 34.9% during the 3rd quarter. GAMMA Investing LLC now owns 200,214 shares of the iPhone maker’s stock worth $46,650,000 after purchasing an additional 51,842 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the sale, the senior vice president now directly owns 187,043 shares in the company, valued at $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock worth $92,007,745 over the last three months. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $235.06 on Wednesday. The firm has a market capitalization of $3.55 trillion, a price-to-earnings ratio of 38.66, a PEG ratio of 2.25 and a beta of 1.24. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The business’s 50-day moving average price is $228.43 and its 200-day moving average price is $219.01. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period last year, the company earned $1.46 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.43%. Apple’s payout ratio is 16.45%.

Analyst Ratings Changes

Several research analysts have weighed in on AAPL shares. Loop Capital lowered their price objective on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Melius Research restated a “buy” rating and issued a $265.00 price target on shares of Apple in a research note on Tuesday, August 27th. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 price objective on shares of Apple in a research note on Monday. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price objective on shares of Apple in a report on Friday, November 1st. Finally, Wedbush reaffirmed an “outperform” rating and set a $285.00 target price on shares of Apple in a report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus 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.