Quantum Private Wealth LLC Decreases Stake in Apple Inc. (NASDAQ:AAPL)

Quantum Private Wealth LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 119,037 shares of the iPhone maker’s stock after selling 3,001 shares during the period. Apple accounts for about 9.4% of Quantum Private Wealth LLC’s portfolio, making the stock its largest position. Quantum Private Wealth LLC’s holdings in Apple were worth $27,736,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Bull Oak Capital LLC lifted its stake in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares during the period. Hershey Financial Advisers LLC acquired a new position in shares of Apple during the second quarter valued at $42,000. Christopher J. Hasenberg Inc lifted its stake in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after acquiring an additional 144 shares during the period. ARK Investment Management LLC acquired a new position in shares of Apple during the third quarter valued at $110,000. Finally, Cordant Inc. lifted its stake in shares of Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after acquiring an additional 173 shares during the period. Institutional investors own 60.41% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AAPL. New Street Research reaffirmed a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, September 25th. Moffett Nathanson cut their price target on Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 19th. Bank of America reaffirmed a “buy” rating and set a $256.00 price target on shares of Apple in a research note on Thursday, October 3rd. Jefferies Financial Group lowered Apple from a “buy” rating to a “hold” rating and increased their target price for the company from $205.00 to $212.92 in a research note on Monday, October 7th. Finally, StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $235.25.

Apple Stock Down 0.1 %

AAPL opened at $234.93 on Thursday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. 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 company has a fifty day moving average of $228.71 and a two-hundred day moving average of $219.12. The stock has a market capitalization of $3.55 trillion, a price-to-earnings ratio of 38.64, a PEG ratio of 2.28 and a beta of 1.24.

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

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.43%. Apple’s payout ratio is 16.45%.

Insider Transactions at Apple

In related news, COO Jeffrey E. Williams sold 59,730 shares of the company’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 transaction of $13,550,347.80. Following the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This represents a 10.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is currently owned by insiders.

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.