Twelve Points Wealth Management LLC Reduces Holdings in Apple Inc. (NASDAQ:AAPL)

Twelve Points Wealth Management LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 2.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,513 shares of the iPhone maker’s stock after selling 513 shares during the period. Apple makes up about 1.4% of Twelve Points Wealth Management LLC’s holdings, making the stock its 12th biggest holding. Twelve Points Wealth Management LLC’s holdings in Apple were worth $4,314,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Hershey Financial Advisers LLC bought a new position in shares of Apple in the 2nd quarter worth about $42,000. Christopher J. Hasenberg Inc lifted its holdings in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares during the last quarter. Hoese & Co LLP lifted its holdings in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after acquiring an additional 57 shares during the last quarter. Sage Financial Group Inc. acquired a new position in Apple in the second quarter valued at approximately $206,000. Finally, Benchmark Wealth Management LLC bought a new position in shares of Apple during the second quarter valued at approximately $208,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 6.39 % 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 ninety days. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of recent research reports. Loop Capital lowered their price objective on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Barclays cut their price objective on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. Needham & Company LLC restated a “buy” rating and issued a $260.00 target price on shares of Apple in a research report on Friday, November 1st. Citigroup lifted their price target on Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $273.00 price objective on shares of Apple in a report on Monday, November 25th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average price target of $235.68.

Apple Stock Performance

NASDAQ:AAPL opened at $242.84 on Monday. The firm has a market capitalization of $3.67 trillion, a PE ratio of 39.94, a PEG ratio of 2.38 and a beta of 1.23. The firm’s fifty day simple moving average is $230.53 and its 200 day simple moving average is $221.83. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $244.63. 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 announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating 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 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 quarter in the prior year, the company earned $1.46 EPS. On average, sell-side analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business 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. This represents a $1.00 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) 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.