Continuum Wealth Advisors LLC Cuts Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Continuum Wealth Advisors LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 28.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,876 shares of the iPhone maker’s stock after selling 746 shares during the quarter. Continuum Wealth Advisors LLC’s holdings in Apple were worth $437,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in Apple by 5.5% in the second 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 period. Ameriprise Financial Inc. lifted its position in Apple by 6.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after acquiring an additional 3,245,281 shares in the last quarter. Capital International Investors boosted its holdings in Apple by 7.1% in the 1st 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 period. American Century Companies Inc. grew its position in Apple by 3.2% in the second 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 in the last quarter. Finally, Swedbank AB raised its stake in shares of Apple by 13.4% during the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after purchasing an additional 2,359,409 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $247.96 on Friday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $250.80. 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 company has a market cap of $3.75 trillion, a PE ratio of 40.78, a P/E/G ratio of 2.42 and a beta of 1.23. The stock has a 50 day simple moving average of $231.63 and a 200-day simple moving average of $222.83.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The company 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 company’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 business posted $1.46 earnings per share. On average, equities research analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.40%. Apple’s payout ratio is 16.45%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. New Street Research reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Wednesday, September 25th. Jefferies Financial Group downgraded Apple from a “buy” rating to a “hold” rating and increased their price target for the company from $205.00 to $212.92 in a report on Monday, October 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 target price on shares of Apple in a research report on Tuesday. Finally, Evercore ISI reissued a “buy” rating and set a $250.00 price target on shares of Apple in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $236.78.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The stock was 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 directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is owned by corporate 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.