Horst & Graben Wealth Management LLC Sells 373 Shares of Apple Inc. (NASDAQ:AAPL)

Horst & Graben Wealth Management LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,087 shares of the iPhone maker’s stock after selling 373 shares during the quarter. Apple accounts for approximately 1.8% of Horst & Graben Wealth Management LLC’s portfolio, making the stock its 17th largest position. Horst & Graben Wealth Management LLC’s holdings in Apple were worth $10,272,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. High Net Worth Advisory Group LLC lifted its position in Apple by 1.7% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after buying an additional 1,066 shares during the last quarter. Granite Investment Partners LLC raised its stake in shares of Apple by 2.7% during the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after acquiring an additional 7,606 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after acquiring an additional 126,210 shares during the last quarter. EP Wealth Advisors LLC boosted its stake in shares of Apple by 5.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock valued at $406,099,000 after purchasing an additional 95,235 shares in the last quarter. Finally, CHICAGO TRUST Co NA grew its holdings in shares of Apple by 15.2% during the 3rd quarter. CHICAGO TRUST Co NA now owns 149,219 shares of the iPhone maker’s stock valued at $34,768,000 after purchasing an additional 19,670 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several recent research reports. Maxim Group boosted their price target on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Citigroup boosted their target price on Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company raised their price target on Apple to $275.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Rosenblatt Securities boosted their price objective on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, UBS Group restated a “neutral” rating and issued a $236.00 target price on shares of Apple in a report on Monday, December 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average target price of $236.78.

Insiders Place Their Bets

In related news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value 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. The trade was a 6.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction on Wednesday, October 2nd. The shares were 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 in the company, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 408,170 shares of company stock valued at $92,007,745. Insiders own 0.06% of the company’s stock.

Apple Stock Up 1.2 %

Shares of Apple stock opened at $251.04 on Tuesday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $251.38. The firm has a market cap of $3.79 trillion, a price-to-earnings ratio of 41.29, a PEG ratio of 2.41 and a beta of 1.23. The company has a 50-day moving average of $233.09 and a 200 day moving average of $224.30. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the previous year, the firm posted $1.46 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed 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 of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.40%. Apple’s dividend payout ratio is currently 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.