Sage Mountain Advisors LLC Has $5.21 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Sage Mountain Advisors LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 52.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 38,102 shares of the iPhone maker’s stock after selling 42,498 shares during the quarter. Apple comprises about 0.9% of Sage Mountain Advisors LLC’s portfolio, making the stock its 14th biggest position. Sage Mountain Advisors LLC’s holdings in Apple were worth $5,209,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AAPL. Vanguard Group Inc. raised its stake in shares of Apple by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after purchasing an additional 8,734,393 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Apple by 1.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock worth $14,097,970,000 after purchasing an additional 1,155,915 shares during the last quarter. Swiss National Bank raised its stake in shares of Apple by 13.1% in the first quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock worth $12,407,910,000 after purchasing an additional 8,230,300 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Apple by 10.1% in the first quarter. Wellington Management Group LLP now owns 67,133,546 shares of the iPhone maker’s stock worth $11,722,187,000 after purchasing an additional 6,162,898 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Apple by 2.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 49,435,007 shares of the iPhone maker’s stock worth $6,758,754,000 after purchasing an additional 1,003,177 shares during the last quarter. 57.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AAPL has been the subject of several analyst reports. Wells Fargo & Company lowered their price objective on Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, July 20th. Barclays lowered their price objective on Apple from $156.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, November 7th. Bank Of America (Bofa) lowered Apple from a “buy” rating to a “neutral” rating and reduced their target price for the company from $189.00 to $160.00 in a report on Friday, September 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $170.00 target price on shares of Apple in a report on Tuesday, November 8th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $175.00 target price on shares of Apple in a report on Tuesday, November 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.26.

Apple Trading Up 1.9 %

Shares of AAPL stock opened at $149.70 on Monday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.85 and a current ratio of 0.88. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The company has a market capitalization of $2.38 trillion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 1.86 and a beta of 1.25. The business’s fifty day moving average is $147.66 and its 200 day moving average is $150.16.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.02. Apple had a return on equity of 160.90% and a net margin of 25.31%. The company had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. During the same quarter last year, the business posted $1.24 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts anticipate that Apple Inc. will post 6.32 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were given a dividend of $0.23 per share. The ex-dividend date was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. Apple’s payout ratio is 15.06%.

Insider Buying and Selling at Apple

In other Apple news, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the chief financial officer now owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Apple news, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the chief financial officer now owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Deirdre O’brien sold 8,053 shares of Apple stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $142.45, for a total value of $1,147,149.85. Following the completion of the transaction, the senior vice president now owns 136,290 shares in the company, valued at approximately $19,414,510.50. The disclosure for this sale can be found here. Insiders have sold 457,386 shares of company stock worth $70,627,433 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Apple Profile

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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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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