Apple Inc. (NASDAQ:AAPL) Shares Sold by Denver Wealth Management Inc.

Denver Wealth Management Inc. cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,117 shares of the iPhone maker’s stock after selling 1,001 shares during the period. Apple accounts for 3.7% of Denver Wealth Management Inc.’s portfolio, making the stock its 5th largest holding. Denver Wealth Management Inc.’s holdings in Apple were worth $7,949,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Swedbank AB bought a new stake in shares of Apple during the 1st quarter worth $3,026,492,000. Strategic Financial Concepts LLC boosted its stake in shares of Apple by 14,145.8% during the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after purchasing an additional 7,558,826 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Apple during the second quarter valued at about $834,368,000. Ameriprise Financial Inc. grew its holdings in shares of Apple by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after purchasing an additional 3,245,281 shares during the last quarter. Finally, Tairen Capital Ltd acquired a new position in shares of Apple in the second quarter valued at approximately $588,952,000. 67.73% of the stock is owned by institutional investors.

Insider Activity

In related news, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the business’s 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 transaction, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AAPL shares. Moffett Nathanson dropped their price target on shares of Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 19th. New Street Research restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, September 25th. UBS Group reissued a “neutral” rating and set a $236.00 target price on shares of Apple in a research note on Monday, December 2nd. Barclays reduced their price target on shares of Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, November 1st. Finally, Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and upped their price objective for the company from $205.00 to $212.92 in a report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $236.78.

Apple Price Performance

Shares of NASDAQ AAPL opened at $251.04 on Tuesday. The company has a fifty day moving average price of $233.09 and a 200 day moving average price of $224.30. The firm has a market cap of $3.79 trillion, a PE ratio of 41.29, a PEG ratio of 2.41 and a beta of 1.23. 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 Inc. has a 1-year low of $164.07 and a 1-year high of $251.38.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data 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 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%. Apple’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.46 EPS. Research analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

About Apple

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.