Thrive Wealth Management LLC Reduces Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Thrive Wealth Management LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,880 shares of the iPhone maker’s stock after selling 661 shares during the period. Apple accounts for 2.1% of Thrive Wealth Management LLC’s investment portfolio, making the stock its 6th biggest holding. Thrive Wealth Management LLC’s holdings in Apple were worth $11,389,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Fidelis Capital Partners LLC lifted its holdings in shares of Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after buying an additional 31,278 shares during the last quarter. Hershey Financial Advisers LLC acquired a new stake in Apple during the second quarter valued at approximately $42,000. Access Investment Management LLC acquired a new stake in Apple in the 1st quarter valued at $140,000. Hoese & Co LLP grew its holdings in shares of 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 purchasing an additional 57 shares during the last quarter. Finally, Sage Financial Group Inc. acquired a new stake in shares of Apple during the second quarter worth approximately $206,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

NASDAQ AAPL opened at $229.00 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The company’s 50 day moving average is $227.47 and its two-hundred day moving average is $217.40. The stock has a market cap of $3.46 trillion, a price-to-earnings ratio of 37.66, a PEG ratio of 2.20 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted 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. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company 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 firm posted $1.46 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. As a group, research analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Activity at Apple

In related 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 directly owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the company’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 sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AAPL has been the topic of several research analyst reports. The Goldman Sachs Group increased their price target on shares of Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Apple in a research report on Friday, November 1st. Piper Sandler reissued a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. New Street Research restated a “neutral” rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. Finally, StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $235.25.

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.