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

Syntegra Private Wealth Group LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,361 shares of the iPhone maker’s stock after selling 237 shares during the quarter. Apple comprises approximately 1.4% of Syntegra Private Wealth Group LLC’s investment portfolio, making the stock its 15th biggest holding. Syntegra Private Wealth Group LLC’s holdings in Apple were worth $11,967,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. High Net Worth Advisory Group LLC lifted its stake in Apple by 1.7% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after acquiring an additional 1,066 shares during the period. Granite Investment Partners LLC lifted its position in Apple by 2.7% during 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 during the period. Truist Financial Corp boosted its holdings in 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 during the last quarter. EP Wealth Advisors LLC grew its position in Apple by 5.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after purchasing an additional 95,235 shares during the period. Finally, CHICAGO TRUST Co NA lifted its holdings in shares of Apple by 15.2% in the 3rd quarter. CHICAGO TRUST Co NA now owns 149,219 shares of the iPhone maker’s stock valued at $34,768,000 after buying an additional 19,670 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

NASDAQ AAPL opened at $254.49 on Friday. The stock has a fifty day simple moving average of $234.97 and a 200-day simple moving average of $225.48. 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 stock has a market cap of $3.85 trillion, a PE ratio of 41.86, a P/E/G ratio of 2.41 and a beta of 1.23. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $255.00.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results 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. The business had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the business earned $1.46 earnings per share. Equities analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.39%. Apple’s payout ratio is presently 16.45%.

Analyst Upgrades and Downgrades

AAPL has been the subject of several recent research reports. Wedbush reaffirmed an “outperform” rating and set a $300.00 target price on shares of Apple in a report on Friday, November 29th. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 price objective on shares of Apple in a research report on Friday, December 13th. Rosenblatt Securities raised their target price on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company upped their price target on Apple to $275.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Bank of America raised their price objective on Apple to $256.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus target price of $236.78.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value 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. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction 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 in the company, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 508,170 shares of company stock worth $117,004,745. 0.06% of the stock is currently owned by company insiders.

Apple Company 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.