Aviso Wealth Management Has $16.27 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Aviso Wealth Management reduced its stake in Apple Inc. (NASDAQ:AAPL) by 1.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,264 shares of the iPhone maker’s stock after selling 772 shares during the quarter. Apple comprises approximately 9.7% of Aviso Wealth Management’s holdings, making the stock its largest position. Aviso Wealth Management’s holdings in Apple were worth $16,273,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Access Investment Management LLC purchased a new stake in Apple during the 1st quarter valued at $140,000. Hoese & Co LLP raised its position in Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares during the last quarter. Sage Financial Group Inc. purchased a new position in Apple in the 2nd quarter worth about $206,000. Benchmark Wealth Management LLC bought a new position in Apple during the 2nd quarter valued at about $208,000. Finally, SMH Capital Advisors Inc. bought a new stake in shares of Apple in the second quarter worth approximately $209,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Trading Up 1.4 %

AAPL stock opened at $228.22 on Friday. The firm has a market cap of $3.45 trillion, a PE ratio of 37.54, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24. The firm has a fifty day moving average price of $226.84 and a 200 day moving average price of $215.52. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49.

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

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is 16.45%.

Insider Activity

In related news, CEO Timothy D. Cook sold 223,986 shares of the 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 sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 6.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This trade represents a 10.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 404,040 shares of company stock valued at $91,062,512 in the last ninety days. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AAPL shares. TD Cowen increased their price objective on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Maxim Group increased their price target on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday, November 1st. Barclays cut their price objective on Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, November 1st. Loop Capital lowered their target price on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, The Goldman Sachs Group raised their target price on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $235.51.

About Apple

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.