Endowment Wealth Management Inc. Has $1.07 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Endowment Wealth Management Inc. cut its stake in Apple Inc. (NASDAQ:AAPL) by 1.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,575 shares of the iPhone maker’s stock after selling 50 shares during the quarter. Endowment Wealth Management Inc.’s holdings in Apple were worth $1,066,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of AAPL. High Net Worth Advisory Group LLC lifted its stake in shares of Apple by 1.7% in the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after buying an additional 1,066 shares during the period. Granite Investment Partners LLC lifted its stake in shares of Apple by 2.7% in the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after buying an additional 7,606 shares during the period. Truist Financial Corp lifted its stake in Apple by 1.8% during the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after purchasing an additional 126,210 shares during the period. Sterling Investment Counsel LLC lifted its stake in Apple by 3.8% during the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after purchasing an additional 2,565 shares during the period. Finally, Silicon Valley Capital Partners lifted its stake in Apple by 12.8% during the third quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock worth $59,122,000 after purchasing an additional 28,799 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $222.64 on Wednesday. The firm has a market cap of $3.35 trillion, a PE ratio of 36.62, a price-to-earnings-growth ratio of 2.25 and a beta of 1.20. The firm’s fifty day moving average is $241.12 and its 200-day moving average is $230.85. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10.

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

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wedbush raised their price target on shares of Apple from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, December 26th. Bank of America reiterated a “buy” rating and issued a $256.00 target price on shares of Apple in a research note on Friday, January 3rd. Oppenheimer reiterated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. JPMorgan Chase & Co. lowered their price target on shares of Apple from $265.00 to $260.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Loop Capital lowered shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 target price for the company. in a report on Tuesday. Four research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $238.02.

Insider Buying and Selling at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction dated Monday, December 16th. The shares were 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 in the company, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents 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.

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.