Strait & Sound Wealth Management LLC Decreases Stock Position in Apple Inc. (NASDAQ:AAPL)

Strait & Sound Wealth Management LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,227 shares of the iPhone maker’s stock after selling 520 shares during the period. Apple comprises approximately 8.8% of Strait & Sound Wealth Management LLC’s holdings, making the stock its 2nd largest holding. Strait & Sound Wealth Management LLC’s holdings in Apple were worth $18,227,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Heritage Family Offices LLP bought a new position in Apple in the 2nd quarter valued at $3,331,000. Rice Partnership LLC boosted its position in Apple by 1.0% in the 2nd quarter. Rice Partnership LLC now owns 195,170 shares of the iPhone maker’s stock valued at $41,107,000 after buying an additional 1,910 shares during the last quarter. Convergence Investment Partners LLC boosted its position in Apple by 2.7% in the 2nd quarter. Convergence Investment Partners LLC now owns 29,334 shares of the iPhone maker’s stock valued at $6,178,000 after buying an additional 769 shares during the last quarter. Willis Johnson & Associates Inc. boosted its position in Apple by 1.9% in the 2nd quarter. Willis Johnson & Associates Inc. now owns 31,205 shares of the iPhone maker’s stock valued at $6,572,000 after buying an additional 585 shares during the last quarter. Finally, Rockline Wealth Management LLC boosted its position in Apple by 15.5% in the 2nd quarter. Rockline Wealth Management LLC now owns 146,132 shares of the iPhone maker’s stock valued at $30,778,000 after buying an additional 19,601 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Jeffrey E. Williams sold 100,000 shares of the firm’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 transaction, the chief operating officer now owns 389,944 shares in the company, valued at $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 is available at the SEC website. Also, 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 value 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 position. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.

Apple Price Performance

AAPL stock opened at $241.53 on Friday. The stock has a market cap of $3.63 trillion, a PE ratio of 38.34, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. The stock has a 50-day moving average price of $240.70 and a two-hundred day moving average price of $231.34. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating 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%. Equities analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s payout ratio is 15.87%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AAPL. Rosenblatt Securities reissued a “buy” rating and issued a $262.00 price target on shares of Apple in a research note on Monday, January 27th. Citigroup increased their price target on Apple from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Raymond James increased their price target on Apple to $250.00 and gave the company a “buy” rating in a research note on Monday, January 20th. Evercore ISI increased their price target on Apple from $250.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Finally, Monness Crespi & Hardt increased their price target on Apple to $245.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Four 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.52.

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.