Apple Inc. (NASDAQ:AAPL) Position Decreased by Elmwood Wealth Management Inc.

Elmwood Wealth Management Inc. cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,485 shares of the iPhone maker’s stock after selling 1,062 shares during the quarter. Apple makes up about 2.3% of Elmwood Wealth Management Inc.’s investment portfolio, making the stock its 8th largest position. Elmwood Wealth Management Inc.’s holdings in Apple were worth $5,472,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in Apple by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock worth $11,160,183,000 after acquiring an additional 2,785,807 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Apple by 6.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock valued at $10,909,457,000 after purchasing an additional 3,245,281 shares during the period. Capital International Investors raised its stake in Apple by 7.1% during the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after buying an additional 2,474,887 shares during the last quarter. American Century Companies Inc. raised its stake in Apple by 3.2% during the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after buying an additional 1,065,759 shares during the last quarter. Finally, Swedbank AB raised its stake in Apple by 13.4% during the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after buying an additional 2,359,409 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors.

Insider Activity at Apple

In other news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the business’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 value of $13,802,497.80. Following the transaction, the senior vice president now owns 187,043 shares in the company, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 408,170 shares of company stock worth $92,007,745 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on AAPL. Moffett Nathanson dropped their price objective on Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a research note on Tuesday, November 19th. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, October 9th. Oppenheimer reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Apple in a research note on Tuesday, October 1st. Maxim Group upped their price objective on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $265.00 price target on shares of Apple in a research note on Tuesday, September 10th. Two 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $235.68.

Apple Trading Up 0.1 %

Shares of NASDAQ:AAPL opened at $243.01 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. The company has a market capitalization of $3.67 trillion, a PE ratio of 39.97, a P/E/G ratio of 2.35 and a beta of 1.23. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $244.11. The business’s fifty day simple moving average is $229.92 and its 200-day simple moving average is $220.90.

Apple (NASDAQ:AAPL) last issued its quarterly 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. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.46 EPS. As a group, equities research analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. Apple’s payout ratio is currently 16.45%.

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.