Absher Wealth Management LLC Sells 11,513 Shares of Apple Inc. (NASDAQ:AAPL)

Absher Wealth Management LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 10.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,283 shares of the iPhone maker’s stock after selling 11,513 shares during the period. Apple accounts for about 3.1% of Absher Wealth Management LLC’s portfolio, making the stock its 16th largest position. Absher Wealth Management LLC’s holdings in Apple were worth $23,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in AAPL. International Assets Investment Management LLC increased its stake in shares of 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 valued at $219,829,700,000 after buying an additional 93,886,664 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Apple by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock valued at $11,160,183,000 after purchasing an additional 2,785,807 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Apple by 6.7% in the 2nd 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 during the period. American Century Companies Inc. boosted its stake in shares of Apple by 3.2% during the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after purchasing an additional 1,065,759 shares in the last quarter. Finally, Swedbank AB increased its holdings in Apple by 13.4% during the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after buying an additional 2,359,409 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction that occurred 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 directly owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, 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. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AAPL shares. Wells Fargo & Company increased their target price on Apple to $275.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Barclays reduced their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, November 1st. 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 research report on Friday, November 1st. Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and increased their target price for the company from $205.00 to $212.92 in a research report on Monday, October 7th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $238.03.

Apple Stock Down 0.2 %

Apple stock opened at $243.36 on Friday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10. The stock has a market capitalization of $3.68 trillion, a PE ratio of 40.03, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The business has a 50 day simple moving average of $238.68 and a 200-day simple moving average of $228.69.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. On average, analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. Apple’s payout ratio is currently 16.45%.

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.