Valley Wealth Managers Inc. Has $42.67 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Valley Wealth Managers Inc. lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 4.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 202,598 shares of the iPhone maker’s stock after selling 10,421 shares during the period. Apple accounts for about 3.4% of Valley Wealth Managers Inc.’s portfolio, making the stock its 2nd biggest position. Valley Wealth Managers Inc.’s holdings in Apple were worth $42,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital International Investors raised its position in Apple by 7.1% during the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after purchasing an additional 2,474,887 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Apple by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after purchasing an additional 1,065,759 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Apple by 1.7% in the 1st quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock valued at $5,061,296,000 after purchasing an additional 485,873 shares during the last quarter. Swedbank AB raised its holdings in shares of Apple by 13.4% during the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after buying an additional 2,359,409 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Apple by 16.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker’s stock worth $3,085,427,000 after buying an additional 2,594,138 shares during the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of the business’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 of the company’s stock, valued at $39,542,136.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 517,924 shares of company stock valued at $114,786,399. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Down 1.8 %

Shares of NASDAQ AAPL opened at $225.91 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The firm has a market cap of $3.43 trillion, a PE ratio of 34.39, a P/E/G ratio of 2.40 and a beta of 1.24. The company’s fifty day simple moving average is $227.26 and its 200 day simple moving average is $211.69. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $84.43 billion. During the same quarter in the previous year, the company posted $1.26 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts forecast that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s payout ratio is 15.22%.

Wall Street Analyst Weigh In

Several brokerages have commented on AAPL. Loop Capital boosted their target price on Apple to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. The Goldman Sachs Group upped their price objective 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. New Street Research restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, September 25th. Evercore ISI reiterated a “buy” rating and set a $250.00 price target on shares of Apple in a report on Thursday, September 26th. Finally, Maxim Group reiterated a “hold” rating and issued a $203.00 price target on shares of Apple in a research note on Tuesday, September 10th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $235.91.

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.