Apple Inc. (NASDAQ:AAPL) Shares Sold by Powell Investment Advisors LLC

Powell Investment Advisors LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 8.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,518 shares of the iPhone maker’s stock after selling 1,374 shares during the quarter. Apple comprises 1.3% of Powell Investment Advisors LLC’s investment portfolio, making the stock its 15th biggest holding. Powell Investment Advisors LLC’s holdings in Apple were worth $2,122,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. CFS Investment Advisory Services LLC raised its holdings in Apple by 18,263.5% during the first quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock worth $47,000 after purchasing an additional 7,416,445 shares during the last quarter. Spence Asset Management acquired a new position in Apple during the second quarter worth $49,000. HBC Financial Services PLLC raised its holdings in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares during the last quarter. Emerson Wealth LLC raised its holdings in Apple by 363.6% during the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after purchasing an additional 320 shares during the last quarter. Finally, Econ Financial Services Corp raised its holdings in Apple by 29.1% during the first quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock worth $74,000 after purchasing an additional 95 shares during the last quarter. 57.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Luca Maestri sold 176,299 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the completion of the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Deirdre O’brien sold 8,053 shares of the company’s stock in a transaction that occurred on Monday, October 17th. The stock was sold at an average price of $142.45, for a total transaction of $1,147,149.85. Following the completion of the transaction, the senior vice president now directly owns 136,290 shares of the company’s stock, valued at $19,414,510.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Luca Maestri sold 176,299 shares of the stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $155.95, for a total value of $27,493,829.05. Following the completion of the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 360,651 shares of company stock valued at $53,703,645. 0.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $170.00 price target on shares of Apple in a research report on Tuesday, November 8th. Fundamental Research lifted their price objective on Apple to $168.50 and gave the company a “buy” rating in a research report on Tuesday, November 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on Apple from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, October 28th. Wedbush lowered their price objective on Apple from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, October 28th. Finally, UBS Group set a $180.00 price objective on Apple in a research report on Wednesday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $176.26.

Apple Trading Up 1.3 %

NASDAQ:AAPL opened at $150.72 on Friday. 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 one year low of $129.04 and a one year high of $182.94. The business’s 50-day simple moving average is $147.21 and its 200 day simple moving average is $150.00. The stock has a market cap of $2.40 trillion, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 1.90 and a beta of 1.25.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.02. The firm had revenue of $90.15 billion during the quarter, compared to analyst estimates of $88.77 billion. Apple had a return on equity of 160.90% and a net margin of 25.31%. Apple’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.24 earnings per share. As a group, sell-side analysts predict that Apple Inc. will post 6.31 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

About Apple

(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

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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