Stone Point Wealth LLC Has $4.44 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Stone Point Wealth LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,045 shares of the iPhone maker’s stock after selling 229 shares during the period. Apple comprises about 1.4% of Stone Point Wealth LLC’s investment portfolio, making the stock its 20th biggest position. Stone Point Wealth LLC’s holdings in Apple were worth $4,437,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lantz Financial LLC increased its position in shares of Apple by 8.6% during the 2nd quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker’s stock worth $6,266,000 after purchasing an additional 2,361 shares in the last quarter. Dupont Capital Management Corp grew its stake in Apple by 5.2% during the second quarter. Dupont Capital Management Corp now owns 260,947 shares of the iPhone maker’s stock worth $54,961,000 after buying an additional 12,984 shares during the last quarter. Evolution Wealth Advisors LLC increased its holdings in shares of Apple by 16.0% during the second quarter. Evolution Wealth Advisors LLC now owns 31,109 shares of the iPhone maker’s stock worth $6,562,000 after buying an additional 4,295 shares in the last quarter. TruNorth Capital Management LLC raised its stake in shares of Apple by 0.7% in the second quarter. TruNorth Capital Management LLC now owns 10,074 shares of the iPhone maker’s stock valued at $2,122,000 after acquiring an additional 70 shares during the last quarter. Finally, Chaney Capital Management Inc. boosted its holdings in shares of Apple by 21.5% in the 2nd quarter. Chaney Capital Management Inc. now owns 36,443 shares of the iPhone maker’s stock worth $7,676,000 after acquiring an additional 6,451 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AAPL. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 price objective on shares of Apple in a research report on Friday, December 13th. Moffett Nathanson reaffirmed a “sell” rating and issued a $188.00 price target (down from $202.00) on shares of Apple in a report on Tuesday, January 7th. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Wells Fargo & Company upped their target price on shares of Apple to $275.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Maxim Group raised their price target on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday, November 1st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $239.85.

Insider Activity

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.

Apple Trading Down 1.0 %

AAPL opened at $234.40 on Tuesday. The stock has a market capitalization of $3.54 trillion, a P/E ratio of 38.55, a P/E/G ratio of 2.41 and a beta of 1.20. 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 fifty day simple moving average is $240.43 and its 200 day simple moving average is $230.36.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating 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 company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.46 earnings per share. As a group, research analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s dividend payout ratio is currently 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.