AlTi Global Inc. Sells 37,866 Shares of Apple Inc. (NASDAQ:AAPL)

AlTi Global Inc. trimmed its position in Apple Inc. (NASDAQ:AAPL) by 10.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 310,510 shares of the iPhone maker’s stock after selling 37,866 shares during the quarter. Apple comprises about 1.8% of AlTi Global Inc.’s investment portfolio, making the stock its 12th biggest position. AlTi Global Inc.’s holdings in Apple were worth $65,400,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Azzad Asset Management Inc. ADV boosted its position in Apple by 1.1% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 174,052 shares of the iPhone maker’s stock valued at $29,846,000 after buying an additional 1,962 shares during the period. Graphene Investments SAS boosted its position in Apple by 11.4% during the 1st quarter. Graphene Investments SAS now owns 54,700 shares of the iPhone maker’s stock valued at $9,380,000 after acquiring an additional 5,600 shares in the last quarter. KFG Wealth Management LLC grew its stake in Apple by 31.3% in the first quarter. KFG Wealth Management LLC now owns 23,944 shares of the iPhone maker’s stock valued at $4,106,000 after purchasing an additional 5,702 shares during the last quarter. Svenska Handelsbanken AB publ bought a new position in Apple in the first quarter worth about $343,000. Finally, OMNI 360 Wealth Inc. lifted its position in shares of Apple by 4.1% during the first quarter. OMNI 360 Wealth Inc. now owns 16,308 shares of the iPhone maker’s stock valued at $2,796,000 after buying an additional 638 shares during the last quarter. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 8,706 shares of the 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 completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 412,746 shares of company stock worth $93,021,362. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $224.23 on Wednesday. The company has a fifty day moving average of $226.72 and a two-hundred day moving average of $215.06. The company has a market capitalization of $3.39 trillion, a PE ratio of 36.88, a P/E/G ratio of 2.22 and a beta of 1.24. 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 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

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

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be issued a $0.25 dividend. 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 (DPR) is currently 16.45%.

Wall Street Analyst Weigh In

AAPL has been the subject of several recent analyst reports. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Robert W. Baird upped their price target 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. Rosenblatt Securities lifted their target price on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Maxim Group upped their price target on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, New Street Research restated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research report on Wednesday, September 25th. Two 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $235.51.

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.