Linscomb Wealth Inc. Sells 5,999 Shares of Apple Inc. (NASDAQ:AAPL)

Linscomb Wealth Inc. lowered its stake in Apple Inc. (NASDAQ:AAPL) by 3.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 155,833 shares of the iPhone maker’s stock after selling 5,999 shares during the quarter. Apple comprises 1.8% of Linscomb Wealth Inc.’s portfolio, making the stock its 11th biggest holding. Linscomb Wealth Inc.’s holdings in Apple were worth $36,309,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AAPL. Bull Oak Capital LLC grew its position 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 purchasing an additional 111 shares in the last quarter. Hershey Financial Advisers LLC purchased a new stake in shares of Apple during the second quarter worth about $42,000. Christopher J. Hasenberg Inc grew its position in shares of 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 purchasing an additional 144 shares in the last quarter. ARK Investment Management LLC purchased a new stake in shares of Apple during the third quarter worth about $110,000. Finally, Cordant Inc. grew its holdings in Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after buying an additional 173 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Activity

In other 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 value of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of Apple 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. This represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Apple Trading Down 0.1 %

Shares of NASDAQ AAPL opened at $223.66 on Friday. 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 business has a fifty day simple moving average of $241.07 and a two-hundred day simple moving average of $230.77. The firm has a market cap of $3.36 trillion, a PE ratio of 36.79, a price-to-earnings-growth ratio of 2.18 and a beta of 1.20. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10.

Apple (NASDAQ:AAPL) last issued its 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 analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.46 EPS. Analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued 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 dividend yield of 0.45%. Apple’s dividend payout ratio is presently 16.45%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AAPL shares. UBS Group restated a “neutral” rating and set a $236.00 price target on shares of Apple in a report on Monday, December 2nd. Barclays cut their price target on Apple from $184.00 to $183.00 and set an “underweight” rating for the company in a report on Wednesday. StockNews.com cut Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Maxim Group raised their price target on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, Jefferies Financial Group cut Apple from a “hold” rating to an “underperform” rating and cut their price target for the company from $211.84 to $200.75 in a report on Tuesday. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.14.

Apple 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.