Apple Inc. (NASDAQ:AAPL) Shares Sold by GSB Wealth Management LLC

GSB Wealth Management LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,806 shares of the iPhone maker’s stock after selling 142 shares during the period. Apple makes up 2.8% of GSB Wealth Management LLC’s portfolio, making the stock its 4th biggest position. GSB Wealth Management LLC’s holdings in Apple were worth $10,906,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of AAPL. Bull Oak Capital LLC raised its holdings 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 worth $36,000 after acquiring an additional 111 shares during the period. Hershey Financial Advisers LLC acquired a new stake in Apple in the second quarter valued at $42,000. Christopher J. Hasenberg Inc increased its position in Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares during the last quarter. Cordant Inc. boosted its position in Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after purchasing an additional 173 shares during the period. Finally, Sage Financial Group Inc. bought a new position in Apple in the 2nd quarter valued at about $206,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of recent research reports. Wells Fargo & Company raised their price target on shares of Apple to $275.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Evercore ISI reiterated a “buy” rating and set a $250.00 price target on shares of Apple in a report on Thursday, September 26th. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Needham & Company LLC restated a “buy” rating and set a $260.00 price target on shares of Apple in a report on Tuesday, December 10th. Finally, Monness Crespi & Hardt reiterated a “buy” rating and issued a $245.00 price objective on shares of Apple in a research note on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $237.47.

Insider Buying and Selling

In related news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. This represents a 35.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 163,435 shares of company stock worth $39,376,002. Insiders own 0.06% of the company’s stock.

Apple Trading Down 0.7 %

NASDAQ:AAPL opened at $250.42 on Wednesday. The firm’s 50 day moving average is $238.02 and its 200 day moving average is $228.43. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10. The stock has a market capitalization of $3.79 trillion, a PE ratio of 41.19, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. Apple’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the firm earned $1.46 EPS. Sell-side analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.40%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is 16.45%.

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.