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

Abound Wealth Management cut its position in Apple Inc. (NASDAQ:AAPL) by 0.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,527 shares of the iPhone maker’s stock after selling 128 shares during the quarter. Apple accounts for about 2.8% of Abound Wealth Management’s portfolio, making the stock its 10th largest holding. Abound Wealth Management’s holdings in Apple were worth $8,646,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bull Oak Capital LLC grew its holdings in shares of Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the last quarter. Hershey Financial Advisers LLC bought a new stake in shares of Apple during the 2nd quarter valued at approximately $42,000. Christopher J. Hasenberg Inc grew its holdings in shares of Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the last quarter. SPX Gestao de Recursos Ltda bought a new stake in shares of Apple during the 3rd quarter valued at approximately $71,000. Finally, Teachers Insurance & Annuity Association of America bought a new stake in shares of Apple during the 3rd quarter valued at approximately $77,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

AAPL opened at $245.55 on Friday. The firm has a market cap of $3.69 trillion, a P/E ratio of 38.98, a PEG ratio of 2.43 and a beta of 1.20. The firm has a 50-day moving average of $240.47 and a 200 day moving average of $232.55. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.41%. Apple’s payout ratio is currently 15.87%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AAPL shares. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. JPMorgan Chase & Co. upped their price objective on shares of Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. The Goldman Sachs Group upped their price objective on shares of Apple from $280.00 to $294.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Argus raised shares of Apple to a “strong-buy” rating in a research note on Friday, January 31st. Finally, Monness Crespi & Hardt upped their price objective on shares of Apple to $245.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $242.52.

Insider Activity at Apple

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the 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 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is owned by company insiders.

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.