Apple Inc. (NASDAQ:AAPL) Position Lessened by Parcion Private Wealth LLC

Parcion Private Wealth LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 183,060 shares of the iPhone maker’s stock after selling 1,363 shares during the quarter. Apple accounts for about 3.5% of Parcion Private Wealth LLC’s investment portfolio, making the stock its 8th largest holding. Parcion Private Wealth LLC’s holdings in Apple were worth $42,653,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Louisiana State Employees Retirement System raised its holdings in shares of Apple by 1.4% during the third quarter. Louisiana State Employees Retirement System now owns 1,305,000 shares of the iPhone maker’s stock worth $304,065,000 after purchasing an additional 17,900 shares during the period. Lyell Wealth Management LP increased its position in shares of Apple by 0.3% during the 3rd quarter. Lyell Wealth Management LP now owns 184,977 shares of the iPhone maker’s stock valued at $43,100,000 after purchasing an additional 576 shares during the period. Smith & Howard Wealth Management LLC raised its holdings in shares of Apple by 0.8% in the 3rd quarter. Smith & Howard Wealth Management LLC now owns 13,484 shares of the iPhone maker’s stock worth $3,142,000 after purchasing an additional 107 shares in the last quarter. CWC Advisors LLC. acquired a new position in shares of Apple in the 3rd quarter valued at $5,757,000. Finally, Mayfair Advisory Group LLC grew its position in Apple by 1.0% during the 3rd quarter. Mayfair Advisory Group LLC now owns 30,390 shares of the iPhone maker’s stock worth $6,892,000 after purchasing an additional 289 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Price Performance

Apple stock opened at $258.20 on Thursday. The business’s 50-day simple moving average is $235.93 and its 200 day simple moving average is $226.77. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The stock has a market cap of $3.90 trillion, a price-to-earnings ratio of 42.47, a P/E/G ratio of 2.41 and a beta of 1.23. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $258.21.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data 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 net margin of 23.97% and a return on equity of 152.94%. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same period last year, the firm earned $1.46 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, research analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

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

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 508,170 shares of company stock valued at $117,004,745. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Morgan Stanley reissued an “overweight” rating and issued a $273.00 price target on shares of Apple in a research note on Friday, December 13th. KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a report on Friday, October 25th. Evercore ISI reaffirmed a “buy” rating and issued a $250.00 price target on shares of Apple in a research report on Thursday, September 26th. Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and upped their target price for the company from $205.00 to $212.92 in a research note on Monday, October 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Apple in a research note on Tuesday, December 10th. Two investment 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 assigned a strong buy rating to the company. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average 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.