TRUE Private Wealth Advisors Sells 31,176 Shares of Apple Inc. (NASDAQ:AAPL)

TRUE Private Wealth Advisors lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 20.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 118,197 shares of the iPhone maker’s stock after selling 31,176 shares during the quarter. Apple comprises about 3.3% of TRUE Private Wealth Advisors’ portfolio, making the stock its 10th largest position. TRUE Private Wealth Advisors’ holdings in Apple were worth $27,540,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. FMR LLC raised its position in Apple by 5.3% during the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock valued at $84,779,231,000 after acquiring an additional 18,224,005 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Apple by 6.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock valued at $22,121,656,000 after purchasing an additional 5,893,741 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Apple by 20,372.7% in the 3rd 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 purchasing an additional 93,886,664 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Apple by 1.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,568,390 shares of the iPhone maker’s stock worth $21,335,435,000 after buying an additional 1,742,087 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in Apple by 1.9% during the third quarter. Fisher Asset Management LLC now owns 58,615,053 shares of the iPhone maker’s stock valued at $13,657,308,000 after buying an additional 1,112,033 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on AAPL. UBS Group reissued a “neutral” rating and set a $236.00 target price on shares of Apple in a research note on Monday, December 2nd. Evercore ISI raised their price objective on Apple from $250.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Rosenblatt Securities reaffirmed a “buy” rating and set a $262.00 target price on shares of Apple in a research note on Monday, January 27th. Morgan Stanley increased their target price on Apple from $273.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company boosted their price target on shares of Apple to $275.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $242.52.

Insider Activity

In related news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This represents a 20.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the firm’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 value of $945,233.10. Following the transaction, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Apple Stock Up 0.3 %

Shares of NASDAQ:AAPL opened at $233.22 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The stock has a market cap of $3.51 trillion, a price-to-earnings ratio of 37.02, a price-to-earnings-growth ratio of 2.36 and a beta of 1.20. The firm’s 50 day moving average price is $241.49 and its 200 day moving average price is $230.96.

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

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 13th. Shareholders of record on Monday, February 10th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. Apple’s payout ratio is currently 15.87%.

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.