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

ACT Wealth Management LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 0.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,710 shares of the iPhone maker’s stock after selling 142 shares during the period. Apple accounts for 3.2% of ACT Wealth Management LLC’s portfolio, making the stock its 10th biggest holding. ACT Wealth Management LLC’s holdings in Apple were worth $6,939,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Fairscale Capital LLC purchased a new stake in Apple during the second quarter valued at about $4,709,000. EverSource Wealth Advisors LLC lifted its position in shares of Apple by 8.8% in the second quarter. EverSource Wealth Advisors LLC now owns 206,360 shares of the iPhone maker’s stock worth $45,828,000 after purchasing an additional 16,756 shares in the last quarter. Edge Capital Group LLC increased its holdings in Apple by 1.1% in the second quarter. Edge Capital Group LLC now owns 113,328 shares of the iPhone maker’s stock worth $23,869,000 after buying an additional 1,186 shares during the last quarter. Delos Wealth Advisors LLC increased its holdings in Apple by 41.2% in the second quarter. Delos Wealth Advisors LLC now owns 11,824 shares of the iPhone maker’s stock worth $2,490,000 after buying an additional 3,453 shares during the last quarter. Finally, Certified Advisory Corp acquired a new position in Apple in the second quarter worth approximately $16,612,000. Institutional investors own 67.73% of the company’s stock.

Apple Trading Down 4.8 %

NASDAQ AAPL opened at $227.48 on Tuesday. The stock has a market capitalization of $3.42 trillion, a price-to-earnings ratio of 36.11, a PEG ratio of 2.44 and a beta of 1.18. The stock’s 50 day moving average price is $237.06 and its two-hundred day moving average price is $234.16. 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 52 week low of $164.08 and a 52 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, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. As a group, analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s payout ratio is presently 15.87%.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Morgan Stanley set a $275.00 price target on Apple in a report on Tuesday, February 11th. Maxim Group raised their target price on Apple to $215.00 and gave the stock a “hold” rating in a research report on Friday, February 21st. Argus raised Apple to a “strong-buy” rating in a report on Friday, January 31st. Evercore ISI raised their target price on Apple to $260.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, Bank of America raised their target price on Apple from $253.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average target price of $243.88.

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.