Avondale Wealth Management Trims Holdings in Apple Inc. (NASDAQ:AAPL)

Avondale Wealth Management trimmed its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 7.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 10,910 shares of the iPhone maker’s stock after selling 874 shares during the period. Apple comprises 1.7% of Avondale Wealth Management’s investment portfolio, making the stock its 11th biggest holding. Avondale Wealth Management’s holdings in Apple were worth $1,492,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Joseph Group Capital Management purchased a new stake in Apple during the 4th quarter worth approximately $1,631,000. Cardinal Capital Management Inc. increased its stake in Apple by 5,525.0% during the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after buying an additional 221 shares during the period. Shore Point Advisors LLC purchased a new stake in Apple during the 4th quarter worth approximately $41,000. Spence Asset Management purchased a new stake in Apple during the 2nd quarter worth approximately $49,000. Finally, Emerson Wealth LLC increased its stake in Apple by 363.6% during the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after buying an additional 320 shares during the period. 57.72% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Down 0.6 %

AAPL stock opened at $152.74 on Friday. Apple Inc. has a one year low of $129.04 and a one year high of $182.94. The stock has a market capitalization of $2.45 trillion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 2.03 and a beta of 1.23. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. The company has a fifty day moving average of $160.31 and a 200-day moving average of $155.83.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. The business had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.30 EPS. As a group, analysts expect that Apple Inc. will post 6.11 EPS for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were issued a $0.23 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.60%. Apple’s dividend payout ratio is presently 15.18%.

Insider Activity

In other news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the transaction, the senior vice president now owns 427,334 shares in the company, valued at approximately $70,411,823.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the transaction, the senior vice president now directly owns 427,334 shares in the company, valued at approximately $70,411,823.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AAPL. UBS Group set a $185.00 target price on shares of Apple in a research note on Wednesday, September 14th. Itaú Unibanco initiated coverage on shares of Apple in a research report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective on the stock. Citigroup increased their price objective on shares of Apple from $175.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Oppenheimer reissued an “outperform” rating and issued a $190.00 price objective on shares of Apple in a research report on Wednesday, June 8th. Finally, Wedbush increased their price objective on shares of Apple from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, August 17th. Two research analysts have rated the stock with a sell rating, six have issued 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 MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $181.68.

Apple Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

Further Reading

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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