Collaborative Wealth Managment Inc. Cuts Stock Position in Apple Inc. (NASDAQ:AAPL)

Collaborative Wealth Managment Inc. trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 0.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,511 shares of the iPhone maker’s stock after selling 75 shares during the period. Apple comprises about 2.7% of Collaborative Wealth Managment Inc.’s investment portfolio, making the stock its 11th biggest position. Collaborative Wealth Managment Inc.’s holdings in Apple were worth $5,584,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Capital International Investors increased its holdings in Apple by 7.1% in the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after acquiring an additional 2,474,887 shares during the last quarter. American Century Companies Inc. grew its position in shares of Apple by 3.2% during the second 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 in the last quarter. Jennison Associates LLC increased its holdings in shares of Apple by 1.7% in the first quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock worth $5,061,296,000 after purchasing an additional 485,873 shares during the last quarter. Swedbank AB increased its holdings in shares of Apple by 13.4% in the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after purchasing an additional 2,359,409 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Apple by 16.8% in the first 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 in the last quarter. Institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction dated 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 in the company, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 517,924 shares of company stock valued at $114,786,399 over the last three months. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Loop Capital lifted their price objective on Apple to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Raymond James boosted their price target on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Cfra increased their price objective on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Monness Crespi & Hardt restated a “buy” rating and issued a $245.00 target price on shares of Apple in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $265.00 price target on shares of Apple in a report on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $236.23.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $222.91 on Friday. The firm’s 50 day simple moving average is $227.18 and its 200-day simple moving average is $212.33. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The firm has a market cap of $3.39 trillion, a PE ratio of 33.93, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.49 by $0.15. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period last year, the business posted $1.46 EPS. Apple’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, equities analysts predict that Apple Inc. will post 6.6 EPS for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be issued 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 payout ratio is currently 15.22%.

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.