Waterway Wealth Management LLC Has $2.95 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Waterway Wealth Management LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 8.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,645 shares of the iPhone maker’s stock after selling 1,175 shares during the period. Apple comprises about 1.3% of Waterway Wealth Management LLC’s investment portfolio, making the stock its 13th largest position. Waterway Wealth Management LLC’s holdings in Apple were worth $2,946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. Hershey Financial Advisers LLC bought a new stake in shares of Apple during the second quarter worth $42,000. Christopher J. Hasenberg Inc lifted its stake in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after acquiring an additional 144 shares during the period. Cordant Inc. lifted its stake in shares of Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after acquiring an additional 173 shares during the period. Hoese & Co LLP lifted its stake in shares of Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares during the period. Finally, Sage Financial Group Inc. acquired a new position in shares of Apple during the second quarter valued at $206,000. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction on Monday, November 18th. The stock was 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction dated 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 completion of the sale, the senior vice president now owns 187,043 shares in the company, valued at $42,309,126.60. This trade represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 408,170 shares of company stock worth $92,007,745 in the last 90 days. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AAPL. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Evercore ISI reaffirmed a “buy” rating and set a $250.00 price target on shares of Apple in a research report on Thursday, September 26th. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Apple in a report on Tuesday, December 10th. Melius Research reiterated a “buy” rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a $265.00 price target on shares of Apple in a research note on Tuesday, September 10th. Two equities research 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $236.78.

Apple Trading Up 1.0 %

Shares of AAPL opened at $253.48 on Wednesday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $253.83. The business’s fifty day moving average is $233.64 and its 200-day moving average is $224.73. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a market cap of $3.83 trillion, a price-to-earnings ratio of 41.69, a PEG ratio of 2.41 and a beta of 1.23.

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

Apple Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.39%. Apple’s dividend payout ratio is currently 16.45%.

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.