Apple Inc. (NASDAQ:AAPL) Shares Sold by Primoris Wealth Advisors LLC

Primoris Wealth Advisors LLC lessened its position in Apple Inc. (NASDAQ:AAPL) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,064 shares of the iPhone maker’s stock after selling 115 shares during the period. Apple comprises approximately 3.7% of Primoris Wealth Advisors LLC’s holdings, making the stock its 3rd biggest holding. Primoris Wealth Advisors LLC’s holdings in Apple were worth $5,141,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in AAPL. 1620 Investment Advisors Inc. increased its stake in shares of Apple by 0.5% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock worth $2,249,000 after purchasing an additional 45 shares during the last quarter. Carolina Wealth Advisors LLC grew its holdings in Apple by 1.3% during the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock worth $813,000 after purchasing an additional 46 shares during the period. Verus Financial Partners Inc. increased its position in Apple by 0.3% during the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after buying an additional 48 shares during the last quarter. Brown Financial Advisory raised its stake in Apple by 3.8% in the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after buying an additional 50 shares during the period. Finally, Core Wealth Management Inc. lifted its position in shares of Apple by 1.7% in the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after buying an additional 50 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Trading Up 2.0 %

Shares of AAPL stock opened at $237.87 on Thursday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10. The stock’s fifty day simple moving average is $240.63 and its 200 day simple moving average is $230.52. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $3.58 trillion, a P/E ratio of 39.12, a P/E/G ratio of 2.41 and a beta of 1.20.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion for 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 business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.46 earnings per share. As a group, sell-side analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.42%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Insider Activity

In related news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s 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 transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris Kondo sold 4,130 shares of Apple 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of recent analyst reports. Moffett Nathanson reissued a “sell” rating and set a $188.00 target price (down from $202.00) on shares of Apple in a report on Tuesday, January 7th. Rosenblatt Securities upped their price objective on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a report on Friday, November 1st. Needham & Company LLC restated a “buy” rating and set a $260.00 target price on shares of Apple in a research note on Tuesday, December 10th. Wells Fargo & Company upped their price target on shares of Apple to $275.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Apple in a report on Thursday, September 26th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $239.85.

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.