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

Colonial River Wealth Management LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 8.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,390 shares of the iPhone maker’s stock after selling 6,341 shares during the quarter. Apple accounts for approximately 7.6% of Colonial River Wealth Management LLC’s investment portfolio, making the stock its largest position. Colonial River Wealth Management LLC’s holdings in Apple were worth $14,194,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Apple by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after buying an additional 18,067,216 shares during the last quarter. Norges Bank acquired a new position in shares of Apple in the fourth quarter worth approximately $33,912,466,000. Wellington Management Group LLP boosted its holdings in Apple by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock valued at $11,677,190,000 after acquiring an additional 2,096,360 shares during the last quarter. Fisher Asset Management LLC increased its position in Apple by 2.0% during the 4th quarter. Fisher Asset Management LLC now owns 54,702,300 shares of the iPhone maker’s stock valued at $10,531,834,000 after purchasing an additional 1,067,587 shares during the period. Finally, Capital International Investors grew its holdings in Apple by 7.1% during the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after acquiring an additional 2,474,887 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $228.20 on Friday. The stock has a market cap of $3.50 trillion, a price-to-earnings ratio of 35.49, a P/E/G ratio of 2.62 and a beta of 1.24. The stock’s 50-day moving average is $222.41 and its 200 day moving average is $199.99. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.23.

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

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Maxim Group reaffirmed a “hold” rating and issued a $203.00 price target on shares of Apple in a research note on Tuesday, September 10th. Melius Research reaffirmed a “buy” rating and issued a $265.00 price objective on shares of Apple in a research note on Tuesday, August 27th. The Goldman Sachs Group boosted their target price on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Piper Sandler Companies reissued a “neutral” rating and issued a $225.00 price target (up from $190.00) on shares of Apple in a research report on Tuesday, July 9th. Finally, Citigroup reissued a “buy” rating and issued a $255.00 price objective on shares of Apple in a research report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $239.17.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares in the company, valued at $3,469,275. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Apple news, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the sale, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 stock was 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 in the company, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,884 shares of company stock valued at $23,723,887. Company insiders own 0.06% of the company’s stock.

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.