Precision Wealth Strategies LLC Has $860,000 Stock Position in Apple Inc. (NASDAQ:AAPL)

Precision Wealth Strategies LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,690 shares of the iPhone maker’s stock after selling 113 shares during the period. Apple makes up 0.8% of Precision Wealth Strategies LLC’s investment portfolio, making the stock its 23rd biggest holding. Precision Wealth Strategies LLC’s holdings in Apple were worth $860,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AAPL. China Universal Asset Management Co. Ltd. raised its holdings in shares of Apple by 127.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock worth $12,943,000 after acquiring an additional 42,282 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of Apple by 2.4% in the 1st quarter. Westwood Holdings Group Inc. now owns 761,774 shares of the iPhone maker’s stock worth $130,629,000 after acquiring an additional 17,519 shares during the last quarter. Lavaca Capital LLC raised its holdings in shares of Apple by 171.4% in the 1st quarter. Lavaca Capital LLC now owns 42,930 shares of the iPhone maker’s stock worth $7,362,000 after acquiring an additional 27,111 shares during the last quarter. Caxton Associates LP raised its holdings in shares of Apple by 97.3% in the 1st quarter. Caxton Associates LP now owns 157,833 shares of the iPhone maker’s stock worth $27,065,000 after acquiring an additional 77,819 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC raised its holdings in shares of Apple by 1.2% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 822,174 shares of the iPhone maker’s stock worth $140,986,000 after acquiring an additional 10,031 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $253.48 on Wednesday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $253.83. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market capitalization of $3.83 trillion, a PE ratio of 41.69, a P/E/G ratio of 2.41 and a beta of 1.23. The company’s 50 day simple moving average is $233.64 and its two-hundred day simple moving average is $224.73.

Apple (NASDAQ:AAPL) last posted its 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. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the prior year, the company posted $1.46 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Insider Activity

In related news, insider Chris Kondo sold 4,130 shares of the 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 of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 transaction, the chief executive officer now directly owns 3,280,180 shares in the company, 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. In the last quarter, insiders have sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AAPL has been the subject of a number of recent analyst reports. Loop Capital reduced their price objective on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Wedbush reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Apple in a research report on Friday, November 29th. Tigress Financial upped their price objective on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 28th. Moffett Nathanson reduced their price objective on shares of Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a research report on Tuesday, November 19th. Finally, Citigroup upped their price objective on shares of Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average price target of $236.78.

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.