Apple Inc. (NASDAQ:AAPL) Shares Sold by 49 Wealth Management LLC

49 Wealth Management LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 4.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,580 shares of the iPhone maker’s stock after selling 1,251 shares during the period. Apple makes up approximately 1.1% of 49 Wealth Management LLC’s holdings, making the stock its 20th largest holding. 49 Wealth Management LLC’s holdings in Apple were worth $6,659,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AAPL. Eagle Asset Management Inc. increased its stake in shares of Apple by 16.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 536,460 shares of the iPhone maker’s stock worth $121,755,000 after purchasing an additional 76,601 shares in the last quarter. Investors Research Corp grew its holdings in Apple by 3.1% during the 3rd quarter. Investors Research Corp now owns 16,884 shares of the iPhone maker’s stock valued at $3,934,000 after buying an additional 504 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Apple by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock worth $22,121,656,000 after buying an additional 5,893,741 shares in the last quarter. Banco Santander S.A. raised its holdings in shares of Apple by 0.6% in the third quarter. Banco Santander S.A. now owns 1,006,990 shares of the iPhone maker’s stock worth $234,629,000 after acquiring an additional 6,009 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Apple by 1.7% in the third quarter. Pacer Advisors Inc. now owns 1,471,257 shares of the iPhone maker’s stock valued at $342,803,000 after acquiring an additional 24,899 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling

In other news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value 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. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $237.62 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The business has a 50 day moving average price of $241.37 and a two-hundred day moving average price of $230.81. The firm has a market cap of $3.57 trillion, a PE ratio of 39.08, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. Sell-side analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Stockholders of record on Monday, February 10th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.42%. Apple’s payout ratio is 16.45%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AAPL. Moffett Nathanson reissued a “sell” rating and issued a $188.00 price objective (down previously from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 target price on shares of Apple in a research note on Tuesday, January 21st. Citigroup increased their price target on Apple to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Barclays lowered their price objective on Apple from $184.00 to $183.00 and set an “underweight” rating for the company in a research report on Wednesday, January 22nd. Finally, Wedbush reiterated an “outperform” rating and set a $325.00 target price on shares of Apple in a research report on Thursday, January 23rd. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Apple has an average rating of “Moderate Buy” and an average target price of $238.05.

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.