Schneider Downs Wealth Management Advisors LP Trims Position in Apple Inc. (NASDAQ:AAPL)

Schneider Downs Wealth Management Advisors LP decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 25.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,518 shares of the iPhone maker’s stock after selling 9,907 shares during the quarter. Apple makes up 1.4% of Schneider Downs Wealth Management Advisors LP’s holdings, making the stock its 17th largest holding. Schneider Downs Wealth Management Advisors LP’s holdings in Apple were worth $6,878,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Lantz Financial LLC boosted its position in shares of Apple by 8.6% during the second quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker’s stock worth $6,266,000 after acquiring an additional 2,361 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. grew its position in shares of Apple by 7.4% during the second quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 11,422 shares of the iPhone maker’s stock valued at $2,406,000 after purchasing an additional 787 shares in the last quarter. Pathway Financial Advisors LLC increased its holdings in shares of Apple by 0.5% in the second quarter. Pathway Financial Advisors LLC now owns 21,243 shares of the iPhone maker’s stock worth $4,474,000 after purchasing an additional 104 shares during the last quarter. LVZ Inc. lifted its position in shares of Apple by 21.5% in the second quarter. LVZ Inc. now owns 23,892 shares of the iPhone maker’s stock worth $5,032,000 after buying an additional 4,234 shares in the last quarter. Finally, JB Capital LLC boosted its stake in Apple by 14.0% during the second quarter. JB Capital LLC now owns 150,216 shares of the iPhone maker’s stock valued at $31,638,000 after buying an additional 18,429 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Citigroup lifted their price objective on shares of Apple to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Bank of America restated a “buy” rating and set a $253.00 target price (down from $256.00) on shares of Apple in a research report on Friday. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 price target on shares of Apple in a research report on Friday, December 13th. Finally, UBS Group restated a “neutral” rating and set a $236.00 price objective on shares of Apple in a research report on Monday, December 2nd. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.05.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,130 shares of Apple 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 completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Stock Down 0.4 %

Apple stock opened at $222.78 on Friday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The business has a fifty day moving average price of $240.97 and a 200-day moving average price of $230.72. 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 stock has a market capitalization of $3.35 trillion, a price-to-earnings ratio of 36.64, a PEG ratio of 2.19 and a beta of 1.20.

Apple (NASDAQ:AAPL) last issued its quarterly 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. The business had revenue of $94.93 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company earned $1.46 earnings per share. Equities research analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. Apple’s dividend payout ratio is currently 16.45%.

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.