Wagner Wealth Management LLC Cuts Stake in Apple Inc. (NASDAQ:AAPL)

Wagner Wealth Management LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 10.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,082 shares of the iPhone maker’s stock after selling 3,024 shares during the period. Apple comprises 1.6% of Wagner Wealth Management LLC’s portfolio, making the stock its 16th largest holding. Wagner Wealth Management LLC’s holdings in Apple were worth $5,844,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. lifted its holdings 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 buying an additional 42,282 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Apple by 37.5% in the first quarter. Empowered Funds LLC now owns 278,379 shares of the iPhone maker’s stock valued at $47,736,000 after purchasing an additional 75,939 shares during the period. Capital Wealth Planning LLC boosted its position in Apple by 3,199.9% in the 1st quarter. Capital Wealth Planning LLC now owns 1,666,108 shares of the iPhone maker’s stock worth $285,704,000 after purchasing an additional 1,615,618 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in Apple by 7.9% in the first 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 raised its holdings in shares of Apple by 7.5% during 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 during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $239.59 on Tuesday. 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 company has a market cap of $3.62 trillion, a PE ratio of 39.41, a price-to-earnings-growth ratio of 2.33 and a beta of 1.24. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $240.79. The business’s 50 day moving average price is $229.02 and its two-hundred day moving average price is $220.02.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion during 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 revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.46 earnings per share. On average, analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.42%. Apple’s payout ratio is 16.45%.

Insider Activity

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction dated 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 owns 187,043 shares of the company’s stock, valued at $42,309,126.60. This trade represents a 24.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the sale, the chief operating officer now owns 489,944 shares in the company, valued at $111,148,695.84. The trade was a 10.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 408,170 shares of company stock worth $92,007,745 in the last three months. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. Morgan Stanley restated an “overweight” rating and issued a $273.00 target price on shares of Apple in a report on Monday, November 25th. Wedbush reiterated an “outperform” rating and issued a $300.00 target price on shares of Apple in a research note on Friday. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $265.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Finally, Melius Research reaffirmed a “buy” rating and issued a $265.00 price objective on shares of Apple in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price of $235.68.

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.