Capstone Wealth Management Group LLC Lowers Stake in Apple Inc. (NASDAQ:AAPL)

Capstone Wealth Management Group LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,839 shares of the iPhone maker’s stock after selling 105 shares during the quarter. Apple accounts for 1.5% of Capstone Wealth Management Group LLC’s portfolio, making the stock its 20th largest position. Capstone Wealth Management Group LLC’s holdings in Apple were worth $2,283,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in shares of Apple by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock worth $11,160,183,000 after purchasing an additional 2,785,807 shares during the last quarter. Capital International Investors lifted its holdings in Apple by 7.1% in the first 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 last quarter. American Century Companies Inc. boosted its stake in Apple by 3.2% in 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 acquiring an additional 1,065,759 shares during the period. Jennison Associates LLC grew its holdings in shares of Apple by 1.7% during the first 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. Finally, Swedbank AB boosted its holdings in shares of Apple by 13.4% during the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after acquiring an additional 2,359,409 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Activity at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was 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 $736,269,202.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The stock was 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 directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the sale, the chief operating officer now owns 489,944 shares in the company, valued at approximately $111,148,695.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 417,924 shares of company stock valued at $94,142,399. 0.06% of the stock is owned by insiders.

Apple Trading Down 0.4 %

Shares of Apple stock opened at $222.01 on Tuesday. The company has a market capitalization of $3.38 trillion, a price-to-earnings ratio of 36.51, a P/E/G ratio of 2.41 and a beta of 1.24. The business has a fifty day simple moving average of $227.07 and a two-hundred day simple moving average of $213.03. Apple Inc. has a 1 year low of $164.07 and a 1 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.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 145.09% and a net margin of 23.97%. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter last year, the business posted $1.46 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. Research analysts forecast that Apple Inc. will post 7.48 EPS for the current year.

Apple Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AAPL shares. Melius Research reiterated a “buy” rating and set a $265.00 price objective on shares of Apple in a research report on Tuesday, August 27th. New Street Research reissued a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, September 25th. Piper Sandler Companies reiterated a “neutral” rating and issued a $225.00 target price (up from $190.00) on shares of Apple in a report on Tuesday, July 9th. Morgan Stanley restated an “overweight” rating and set a $273.00 target price on shares of Apple in a report on Tuesday, September 10th. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $250.00 price target on shares of Apple in a report on Thursday, September 26th. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.51.

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.