Austin Wealth Management LLC Has $5.45 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Austin Wealth Management LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,147 shares of the iPhone maker’s stock after selling 227 shares during the period. Apple makes up approximately 1.2% of Austin Wealth Management LLC’s holdings, making the stock its 26th largest holding. Austin Wealth Management LLC’s holdings in Apple were worth $5,449,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. International Assets Investment Management LLC raised its stake in Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after acquiring an additional 93,886,664 shares in the last quarter. Strategic Financial Concepts LLC grew its holdings in shares of Apple by 14,145.8% in the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after purchasing an additional 7,558,826 shares during the last quarter. Pathway Financial Advisers LLC increased its position in shares of Apple by 22,870.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 5,590,588 shares of the iPhone maker’s stock worth $1,302,607,000 after purchasing an additional 5,566,250 shares in the last quarter. William Blair Investment Management LLC bought a new position in Apple during the 2nd quarter valued at about $834,368,000. Finally, Ameriprise Financial Inc. raised its stake in shares of Apple by 6.7% in the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock valued at $10,909,457,000 after acquiring an additional 3,245,281 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In related news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. This represents a 35.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 163,435 shares of company stock valued at $39,376,002. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of research analyst reports. UBS Group restated a “neutral” rating and set a $236.00 price target on shares of Apple in a research report on Monday, December 2nd. Oppenheimer restated a “buy” rating and set a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Morgan Stanley reissued an “overweight” rating and set a $273.00 price objective on shares of Apple in a report on Friday, December 13th. Finally, Moffett Nathanson dropped their target price on shares of Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a research note on Tuesday, November 19th. Two 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $237.47.

Apple Stock Down 0.7 %

Shares of AAPL opened at $250.42 on Thursday. 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 firm’s 50 day moving average is $238.41 and its 200-day moving average is $228.58. The stock has a market capitalization of $3.79 trillion, a PE ratio of 41.19, a P/E/G 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 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter last year, the business earned $1.46 earnings per share. Apple’s revenue was up 6.1% on a year-over-year basis. Equities research analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders 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 0.40%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is presently 16.45%.

Apple 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.