Balanced Wealth Group LLC Sells 1,752 Shares of Apple Inc. (NASDAQ:AAPL)

Balanced Wealth Group LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,707 shares of the iPhone maker’s stock after selling 1,752 shares during the quarter. Apple makes up about 3.4% of Balanced Wealth Group LLC’s portfolio, making the stock its 9th biggest holding. Balanced Wealth Group LLC’s holdings in Apple were worth $13,592,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Access Investment Management LLC acquired a new position in Apple in the first quarter valued at about $140,000. Hoese & Co LLP lifted its position in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 57 shares during the last quarter. Sage Financial Group Inc. acquired a new position in Apple in the second quarter valued at about $206,000. Benchmark Wealth Management LLC acquired a new position in Apple in the second quarter valued at about $208,000. Finally, SMH Capital Advisors Inc. acquired a new position in Apple in the second quarter valued at about $209,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $226.96 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a fifty day moving average price of $226.82 and a 200 day moving average price of $214.03. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The company has a market cap of $3.43 trillion, a PE ratio of 37.33, a P/E/G ratio of 2.18 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same period last year, the company earned $1.46 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Sell-side analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

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 given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Friday, November 8th. Apple’s payout ratio is 16.45%.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the transaction, the senior vice president now owns 187,043 shares in the company, valued at approximately $42,309,126.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the transaction, the senior vice president now owns 187,043 shares of the company’s stock, valued at $42,309,126.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 412,746 shares of company stock worth $93,021,362. 0.06% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Moffett Nathanson assumed coverage on shares of Apple in a research note on Monday, August 19th. They set a “neutral” rating and a $211.00 price target on the stock. Robert W. Baird boosted their price target on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Tigress Financial boosted their price target on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 28th. Cfra boosted their price target on shares of Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, Loop Capital cut their price target on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.