Sensible Money LLC Decreases Holdings in Apple Inc. (NASDAQ:AAPL)

Sensible Money LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 1.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,743 shares of the iPhone maker’s stock after selling 230 shares during the quarter. Apple accounts for approximately 1.7% of Sensible Money LLC’s investment portfolio, making the stock its 8th biggest position. Sensible Money LLC’s holdings in Apple were worth $3,526,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AAPL. Verus Financial Partners Inc. raised its stake in Apple by 0.3% during the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after buying an additional 48 shares during the period. Brown Financial Advisory increased its holdings in shares of Apple by 3.8% during the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after acquiring an additional 50 shares in the last quarter. Core Wealth Management Inc. raised its position in shares of Apple by 1.7% during the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after purchasing an additional 50 shares during the period. Lowery Thomas LLC lifted its holdings in shares of Apple by 0.7% in the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after purchasing an additional 50 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. lifted its holdings in shares of Apple by 1.1% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after purchasing an additional 51 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Analyst Ratings Changes

AAPL has been the topic of several research reports. Robert W. Baird upped their price objective on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and raised their price target for the company from $205.00 to $212.92 in a research report on Monday, October 7th. Morgan Stanley reissued an “overweight” rating and set a $273.00 price objective on shares of Apple in a report on Tuesday, September 10th. Piper Sandler reissued a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, October 9th. Finally, Evercore ISI reaffirmed a “buy” rating and set a $250.00 target price on shares of Apple in a research report on Thursday, September 26th. Two investment 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 given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $235.51.

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction that occurred on 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 directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the sale, the senior vice president now directly owns 187,043 shares in the company, valued at $42,309,126.60. This trade represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 404,040 shares of company stock worth $91,062,512 in the last quarter. 0.06% of the stock is owned by company insiders.

Apple Price Performance

AAPL opened at $225.00 on Monday. The firm has a 50-day moving average price of $227.04 and a 200-day moving average price of $216.61. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 37.01, a PEG ratio of 2.20 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 earnings per share for the quarter, beating 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 business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same period in the previous year, the business earned $1.46 EPS. Apple’s revenue was up 6.1% compared to the same quarter last year. Equities analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

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

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.