Daymark Wealth Partners LLC Sells 10,743 Shares of Apple Inc. (NASDAQ:AAPL)

Daymark Wealth Partners LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 1.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 897,159 shares of the iPhone maker’s stock after selling 10,743 shares during the quarter. Apple comprises approximately 6.9% of Daymark Wealth Partners LLC’s portfolio, making the stock its biggest position. Daymark Wealth Partners LLC’s holdings in Apple were worth $209,038,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Apple by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock valued at $11,160,183,000 after purchasing an additional 2,785,807 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Apple by 6.7% in the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock valued at $10,909,457,000 after acquiring an additional 3,245,281 shares during the period. Capital International Investors grew its position in shares of Apple by 7.1% during the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after acquiring an additional 2,474,887 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Apple by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after acquiring an additional 1,065,759 shares during the period. Finally, Swedbank AB boosted its stake in Apple by 13.4% during the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after purchasing an additional 2,359,409 shares during the period. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Price Performance

AAPL stock opened at $235.06 on Wednesday. The stock has a 50-day moving average price of $228.43 and a two-hundred day moving average price of $219.01. 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 Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

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

Apple Announces Dividend

The business also recently declared 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 is presently 16.45%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on AAPL shares. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. Rosenblatt Securities increased their price objective on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Evercore ISI reissued a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Thursday, September 26th. Wedbush reiterated an “outperform” rating and issued a $285.00 price objective on shares of Apple in a research report on Monday, September 9th. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. Two investment 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 given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.25.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 61,019 shares of Apple 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 completion of the transaction, the senior vice president now owns 187,043 shares in the company, valued at approximately $42,309,126.60. This trade represents a 24.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the 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 sale, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % 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 in the last ninety days. 0.06% of the stock is owned by insiders.

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.