Apple Inc. (NASDAQ:AAPL) Holdings Lowered by Redhawk Wealth Advisors Inc.

Redhawk Wealth Advisors Inc. lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 56,212 shares of the iPhone maker’s stock after selling 1,027 shares during the quarter. Apple makes up approximately 1.9% of Redhawk Wealth Advisors Inc.’s portfolio, making the stock its 10th biggest position. Redhawk Wealth Advisors Inc.’s holdings in Apple were worth $13,097,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. China Universal Asset Management Co. Ltd. lifted its position in Apple by 127.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock valued at $12,943,000 after acquiring an additional 42,282 shares during the period. Empowered Funds LLC boosted its position in Apple by 37.5% in the first quarter. Empowered Funds LLC now owns 278,379 shares of the iPhone maker’s stock worth $47,736,000 after purchasing an additional 75,939 shares during the last quarter. Capital Wealth Planning LLC increased its position in Apple by 3,199.9% in the first quarter. Capital Wealth Planning LLC now owns 1,666,108 shares of the iPhone maker’s stock worth $285,704,000 after buying an additional 1,615,618 shares in the last quarter. Illinois Municipal Retirement Fund raised its position in shares of Apple by 7.9% during the 1st quarter. Illinois Municipal Retirement Fund now owns 1,010,341 shares of the iPhone maker’s stock valued at $173,253,000 after purchasing an additional 73,898 shares during the period. Finally, Avalon Trust Co lifted its position in shares of Apple by 7.5% in the first quarter. Avalon Trust Co now owns 465,766 shares of the iPhone maker’s stock valued at $79,870,000 after acquiring an additional 32,639 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Insider Activity

In other Apple news, CFO Luca Maestri sold 59,305 shares of the stock in a transaction dated 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 in the company, valued at approximately $24,416,137.76. This represents a 35.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now 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 disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock worth $92,007,745 over the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AAPL shares. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Apple in a research report on Friday, November 1st. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research report on Wednesday, October 9th. Oppenheimer restated a “buy” rating and set a $250.00 price target on shares of Apple in a research note on Tuesday, October 1st. Moffett Nathanson decreased their price objective on Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a research note on Tuesday, November 19th. Finally, StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.68.

Apple Stock Performance

NASDAQ:AAPL opened at $239.59 on Tuesday. 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 stock has a market capitalization of $3.62 trillion, a PE ratio of 39.41, a P/E/G ratio of 2.33 and a beta of 1.24. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $240.79. The company has a fifty day moving average of $229.02 and a two-hundred day moving average of $220.02.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm 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 revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.46 EPS. As a group, research analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.42%. Apple’s payout ratio is currently 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.