Apple Inc. (NASDAQ:AAPL) Shares Sold by Providence Wealth Advisors LLC

Providence Wealth Advisors LLC decreased its stake in Apple Inc. (NASDAQ:AAPL) by 0.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,883 shares of the iPhone maker’s stock after selling 112 shares during the period. Apple makes up 7.7% of Providence Wealth Advisors LLC’s portfolio, making the stock its 2nd largest holding. Providence Wealth Advisors LLC’s holdings in Apple were worth $10,515,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of AAPL. Bull Oak Capital LLC increased its position in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the period. Hershey Financial Advisers LLC bought a new position in shares of Apple during the 2nd quarter worth about $42,000. Christopher J. Hasenberg Inc increased its stake in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after acquiring an additional 144 shares during the period. Teachers Insurance & Annuity Association of America acquired a new position in Apple in the third quarter worth about $77,000. Finally, ARK Investment Management LLC bought a new position in Apple during the third quarter worth about $110,000. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $232.47 on Thursday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The firm has a market cap of $3.49 trillion, a price-to-earnings ratio of 36.90, a price-to-earnings-growth ratio of 2.36 and a beta of 1.20. Apple Inc. has a one year low of $164.07 and a one year high of $260.10. The stock’s 50-day moving average is $241.54 and its 200-day moving average is $230.95.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Equities analysts predict that Apple Inc. will post 7.33 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Shareholders of record on Monday, February 10th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.43%. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Analyst Upgrades and Downgrades

AAPL has been the subject of several analyst reports. Jefferies Financial Group downgraded Apple from a “hold” rating to an “underperform” rating and cut their target price for the stock from $211.84 to $200.75 in a research report on Thursday, January 30th. Loop Capital downgraded Apple from a “buy” rating to a “hold” rating and set a $230.00 target price on the stock. in a report on Tuesday, January 21st. The Goldman Sachs Group lifted their price objective on Apple from $280.00 to $294.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Needham & Company LLC restated a “buy” rating and set a $260.00 target price on shares of Apple in a report on Friday, January 31st. Finally, KeyCorp reaffirmed an “underweight” rating and issued a $200.00 price target on shares of Apple in a report on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $242.52.

Insider Transactions at Apple

In other Apple 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’s 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 owns 389,944 shares in the company, valued at $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.

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.