Allworth Financial LP Trims Holdings in Apple Inc. (NASDAQ:AAPL)

Allworth Financial LP trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,152,026 shares of the iPhone maker’s stock after selling 5,422 shares during the quarter. Apple makes up 1.6% of Allworth Financial LP’s holdings, making the stock its 10th biggest holding. Allworth Financial LP’s holdings in Apple were worth $268,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of AAPL. Boston Common Asset Management LLC grew its stake in Apple by 9.5% in the second quarter. Boston Common Asset Management LLC now owns 203,435 shares of the iPhone maker’s stock valued at $42,847,000 after acquiring an additional 17,617 shares during the period. Bank & Trust Co bought a new stake in Apple in the 2nd quarter valued at about $2,701,000. Benchmark Wealth Management LLC bought a new position in shares of Apple in the second quarter worth $208,000. Westend Capital Management LLC boosted its holdings in Apple by 5,126.6% in the 2nd quarter. Westend Capital Management LLC now owns 67,684 shares of the iPhone maker’s stock valued at $14,671,000 after purchasing an additional 66,389 shares during the period. Finally, BancFirst Trust & Investment Management raised its stake in Apple by 22.4% in the second quarter. BancFirst Trust & Investment Management now owns 2,048 shares of the iPhone maker’s stock valued at $439,000 after purchasing an additional 375 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Transactions at Apple

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 508,170 shares of company stock valued at $117,004,745. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AAPL has been the subject of several recent research reports. New Street Research reiterated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research report on Wednesday, September 25th. Rosenblatt Securities boosted their price target on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Evercore ISI reissued a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Thursday, September 26th. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Apple in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $265.00 price target on shares of Apple in a report on Tuesday, September 10th. Two 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $236.78.

Apple Price Performance

AAPL opened at $258.20 on Wednesday. The business has a fifty day moving average of $235.45 and a 200 day moving average of $226.34. The stock has a market cap of $3.90 trillion, a P/E ratio of 42.47, a PEG ratio of 2.41 and a beta of 1.23. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $258.21.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.46 earnings per share. As a group, sell-side analysts anticipate 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. Shareholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.39%. Apple’s dividend 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.