ICA Group Wealth Management LLC Has $5.89 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

ICA Group Wealth Management LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 60.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,982 shares of the iPhone maker’s stock after selling 42,878 shares during the quarter. Apple accounts for about 3.5% of ICA Group Wealth Management LLC’s holdings, making the stock its 5th largest position. ICA Group Wealth Management LLC’s holdings in Apple were worth $5,893,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in AAPL. Access Investment Management LLC purchased a new position in shares of Apple during the 1st quarter valued at $140,000. Hoese & Co LLP raised its position in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares in the last quarter. Sage Financial Group Inc. bought a new stake in Apple during the second quarter valued at $206,000. Benchmark Wealth Management LLC purchased a new position in Apple during the second quarter worth about $208,000. Finally, Sequent Asset Management LLC purchased a new position in Apple during the second quarter worth about $214,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AAPL. Piper Sandler Companies reiterated a “neutral” rating and set a $225.00 price target (up previously from $190.00) on shares of Apple in a research report on Tuesday, July 9th. Robert W. Baird raised their target price on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. UBS Group reissued a “hold” rating and issued a $236.00 price target on shares of Apple in a research note on Wednesday, October 16th. Moffett Nathanson started coverage on shares of Apple in a report on Monday, August 19th. They issued a “neutral” rating and a $211.00 price target on the stock. Finally, New Street Research reiterated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.23.

Apple Trading Down 1.3 %

AAPL opened at $222.91 on Friday. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The business has a 50 day simple moving average of $227.18 and a two-hundred day simple moving average of $212.33. The firm has a market capitalization of $3.39 trillion, a price-to-earnings ratio of 33.93, a PEG ratio of 2.45 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.15. The company had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 earnings per share. Analysts predict that Apple Inc. will post 6.6 EPS for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be given a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s dividend payout ratio is 15.22%.

Insider Activity

In related news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Apple news, 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 transaction 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, 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 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.