Apple Inc. (NASDAQ:AAPL) Shares Sold by KWB Wealth

KWB Wealth lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 7.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 16,506 shares of the iPhone maker’s stock after selling 1,326 shares during the period. KWB Wealth’s holdings in Apple were worth $3,846,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Granite Investment Partners LLC lifted its holdings in shares of Apple by 2.7% in the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after purchasing an additional 7,606 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Apple by 1.8% in the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after purchasing an additional 126,210 shares in the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of Apple by 5.2% in the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock valued at $406,099,000 after purchasing an additional 95,235 shares in the last quarter. Bellwether Advisors LLC lifted its holdings in shares of Apple by 387.3% in the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock valued at $5,128,000 after purchasing an additional 19,352 shares in the last quarter. Finally, Gentry Private Wealth LLC purchased a new stake in shares of Apple in the second quarter valued at $876,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of research analyst reports. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Wedbush reiterated an “outperform” rating and set a $285.00 price objective on shares of Apple in a report on Monday, September 9th. Evercore ISI reiterated a “buy” rating and set a $250.00 price objective on shares of Apple in a report on Thursday, September 26th. Maxim Group increased their price objective on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, KeyCorp lowered Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective for the company. in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $235.25.

Apple Stock Up 0.6 %

NASDAQ AAPL opened at $229.87 on Friday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a 50-day simple moving average of $227.73 and a 200 day simple moving average of $217.81. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The stock has a market cap of $3.47 trillion, a PE ratio of 37.81, a PEG ratio of 2.24 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating 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 business had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter last year, the company earned $1.46 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. On average, research analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors 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 presently 16.45%.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This represents a 35.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 408,170 shares of company stock worth $92,007,745. Company insiders own 0.06% of the company’s stock.

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.