Apple Inc. (NASDAQ:AAPL) Shares Sold by Leo Wealth LLC

Leo Wealth LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,213 shares of the iPhone maker’s stock after selling 2,414 shares during the quarter. Apple comprises approximately 3.0% of Leo Wealth LLC’s holdings, making the stock its 7th biggest holding. Leo Wealth LLC’s holdings in Apple were worth $32,437,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in AAPL. Swedbank AB acquired a new stake in shares of Apple during the first quarter valued at about $3,026,492,000. Strategic Financial Concepts LLC grew its position 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 worth $1,603,000 after buying an additional 7,558,826 shares in the last quarter. William Blair Investment Management LLC bought a new stake in shares of Apple in the second quarter worth $834,368,000. Ameriprise Financial Inc. grew its stake in Apple by 6.7% in 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 in the last quarter. Finally, Tairen Capital Ltd acquired a new stake in shares of Apple during the 2nd quarter valued at approximately $588,952,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

AAPL stock opened at $248.05 on Thursday. Apple Inc. has a one year low of $164.07 and a one year high of $254.28. The firm has a 50-day moving average of $234.01 and a two-hundred day moving average of $224.89. The firm has a market capitalization of $3.75 trillion, a PE ratio of 40.80, a P/E/G 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 (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating 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 company had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the prior year, the company earned $1.46 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts forecast that Apple Inc. will post 7.43 earnings per share 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 given a $0.25 dividend. 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 payout ratio is 16.45%.

Insider Transactions at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the company’s 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 sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 508,170 shares of company stock valued at $117,004,745 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on AAPL. Maxim Group lifted their price objective on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a report on Friday, November 1st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $265.00 target price on shares of Apple in a report on Tuesday, September 10th. Wedbush restated an “outperform” rating and issued a $300.00 price target on shares of Apple in a research note on Friday, November 29th. Melius Research reiterated a “buy” rating and set a $265.00 price objective on shares of Apple in a research report on Tuesday, August 27th. Finally, New Street Research restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, September 25th. 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $236.78.

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.