Rowlandmiller & PARTNERS.ADV Sells 1,003 Shares of Apple Inc. (NASDAQ:AAPL)

Rowlandmiller & PARTNERS.ADV lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 138,280 shares of the iPhone maker’s stock after selling 1,003 shares during the period. Apple makes up approximately 6.5% of Rowlandmiller & PARTNERS.ADV’s investment portfolio, making the stock its largest position. Rowlandmiller & PARTNERS.ADV’s holdings in Apple were worth $32,219,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Carolina Wealth Advisors LLC raised its position in shares of Apple by 1.3% in the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after purchasing an additional 46 shares during the period. Verus Financial Partners Inc. grew its stake in Apple by 0.3% in the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after buying an additional 48 shares during the last quarter. Brown Financial Advisory raised its holdings in Apple by 3.8% in the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after acquiring an additional 50 shares during the period. Core Wealth Management Inc. lifted its position in Apple by 1.7% during the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after acquiring an additional 50 shares during the last quarter. Finally, Lowery Thomas LLC lifted its position in Apple by 0.7% during the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after acquiring an additional 50 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the business’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 value of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the sale, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This trade represents a 24.60 % 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 over the last quarter. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $254.49 on Monday. The company has a market capitalization of $3.85 trillion, a price-to-earnings ratio of 41.86, a PEG ratio of 2.41 and a beta of 1.23. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $255.00. The stock has a fifty day simple moving average of $234.97 and a 200 day simple moving average of $225.70. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

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

Apple Announces Dividend

The company 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 of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several research reports. New Street Research reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, September 25th. Wedbush reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Apple in a report on Friday, November 29th. Wells Fargo & Company lifted their target price on Apple to $275.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Citigroup upped their price target on shares of Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Melius Research reiterated a “buy” rating and issued a $265.00 price objective on shares of Apple in a research note on Tuesday, August 27th. Two investment analysts have rated the stock with a sell rating, twelve have issued 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, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $236.78.

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.