Apple Inc. (NASDAQ:AAPL) Stock Holdings Trimmed by Baker Tilly Wealth Management LLC

Baker Tilly Wealth Management LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 38.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,599 shares of the iPhone maker’s stock after selling 15,477 shares during the period. Apple makes up 2.5% of Baker Tilly Wealth Management LLC’s holdings, making the stock its 6th largest position. Baker Tilly Wealth Management LLC’s holdings in Apple were worth $5,732,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bull Oak Capital LLC raised its stake in shares of Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares during the last quarter. Hershey Financial Advisers LLC acquired a new position in Apple in the 2nd quarter worth approximately $42,000. Christopher J. Hasenberg Inc raised its position in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares during the last quarter. Cordant Inc. lifted its stake in Apple by 34.3% during the 3rd 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. Finally, Sage Financial Group Inc. purchased a new stake in shares of Apple in the 2nd quarter valued at $206,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Down 1.3 %

Shares of NASDAQ AAPL opened at $255.59 on Friday. The stock has a market cap of $3.86 trillion, a PE ratio of 42.04, 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 Inc. has a 12-month low of $164.07 and a 12-month high of $260.10. The company has a 50-day moving average of $237.41 and a 200 day moving average of $227.65.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping 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 business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the previous year, the firm posted $1.46 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, sell-side analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal 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 issued a $0.25 dividend. 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 currently 16.45%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AAPL. Citigroup boosted their target price on shares of Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Oppenheimer reissued a “buy” rating and issued a $250.00 price objective on shares of Apple in a report on Tuesday, October 1st. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. UBS Group reiterated a “neutral” rating and set a $236.00 price target on shares of Apple in a research report on Monday, December 2nd. Finally, Jefferies Financial Group lowered Apple from a “buy” rating to a “hold” rating and upped their price objective for the stock from $205.00 to $212.92 in a research report on Monday, October 7th. Two equities research 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 data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average price target of $237.47.

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were 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 in the company, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. This trade represents a 10.87 % 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. 0.06% of the stock is currently owned by insiders.

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.