Avid Wealth Partners LLC Sells 343 Shares of Apple Inc. (NASDAQ:AAPL)

Avid Wealth Partners LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 9.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,287 shares of the iPhone maker’s stock after selling 343 shares during the period. Apple comprises approximately 0.5% of Avid Wealth Partners LLC’s investment portfolio, making the stock its 25th biggest holding. Avid Wealth Partners LLC’s holdings in Apple were worth $692,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Elite Life Management LLC acquired a new stake in Apple during the 4th quarter worth approximately $963,000. Kelman Lazarov Inc. grew its stake in Apple by 0.9% during the fourth quarter. Kelman Lazarov Inc. now owns 15,862 shares of the iPhone maker’s stock worth $3,054,000 after buying an additional 144 shares in the last quarter. Monument Capital Management increased its holdings in Apple by 1.7% in the 4th quarter. Monument Capital Management now owns 35,103 shares of the iPhone maker’s stock valued at $6,758,000 after buying an additional 601 shares during the period. Townsend Asset Management Corp NC ADV raised its position in shares of Apple by 0.7% in the 4th quarter. Townsend Asset Management Corp NC ADV now owns 41,480 shares of the iPhone maker’s stock valued at $7,986,000 after buying an additional 268 shares in the last quarter. Finally, RWA Wealth Partners LLC lifted its holdings in shares of Apple by 143.3% during the 4th quarter. RWA Wealth Partners LLC now owns 831,496 shares of the iPhone maker’s stock worth $160,088,000 after acquiring an additional 489,712 shares during the period. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

AAPL stock opened at $228.20 on Friday. The firm has a market cap of $3.50 trillion, a PE ratio of 35.49, a P/E/G ratio of 2.62 and a beta of 1.24. The business has a 50 day moving average of $222.41 and a 200-day moving average of $199.99. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.23.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. During the same period last year, the company earned $1.26 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, sell-side analysts expect that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s payout ratio is 15.55%.

Analyst Ratings Changes

A number of research firms have weighed in on AAPL. Sanford C. Bernstein boosted their target price on shares of Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $265.00 price objective on shares of Apple in a report on Tuesday, September 10th. Oppenheimer reissued an “outperform” rating and set a $250.00 target price on shares of Apple in a report on Tuesday, September 10th. Barclays cut their target price on Apple from $187.00 to $186.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. Finally, Morgan Stanley restated an “overweight” rating and issued a $273.00 target price on shares of Apple in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $239.17.

Insider Transactions at Apple

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,469,275. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. In the last three months, insiders sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is currently owned by corporate insiders.

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.