Stratos Wealth Advisors LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 156,826 shares of the iPhone maker’s stock after selling 1,261 shares during the period. Apple accounts for 2.3% of Stratos Wealth Advisors LLC’s investment portfolio, making the stock its 2nd largest position. Stratos Wealth Advisors LLC’s holdings in Apple were worth $21,673,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Ramsey Quantitative Systems purchased a new position in Apple during the second quarter worth about $55,000. Morgan Dempsey Capital Management LLC acquired a new stake in shares of Apple during the 3rd quarter worth approximately $55,000. HBC Financial Services PLLC raised its position in shares of Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after buying an additional 80 shares during the period. Newfound Research LLC acquired a new position in Apple in the third quarter valued at approximately $67,000. Finally, Emerson Wealth LLC grew its position in Apple by 27.0% in the second quarter. Emerson Wealth LLC now owns 518 shares of the iPhone maker’s stock worth $71,000 after acquiring an additional 110 shares during the period. 57.60% of the stock is currently owned by hedge funds and other institutional investors.
Apple Price Performance
AAPL stock opened at $135.27 on Friday. The business has a 50 day moving average price of $138.95 and a 200 day moving average price of $148.10. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.95. The stock has a market cap of $2.14 trillion, a price-to-earnings ratio of 22.14, a PEG ratio of 1.74 and a beta of 1.24. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $179.61.
Apple Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Monday, November 7th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Friday, November 4th. Apple’s dividend payout ratio (DPR) is currently 15.06%.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on AAPL shares. Needham & Company LLC restated a “buy” rating and issued a $170.00 target price on shares of Apple in a research report on Tuesday, November 8th. JPMorgan Chase & Co. set a $180.00 target price on shares of Apple and gave the company an “overweight” rating in a research report on Thursday. Credit Suisse Group reiterated a “buy” rating and set a $184.00 price target on shares of Apple in a research report on Wednesday. Oppenheimer decreased their price objective on shares of Apple from $190.00 to $170.00 and set an “outperform” rating on the stock in a report on Monday, December 12th. Finally, Canaccord Genuity Group dropped their target price on shares of Apple from $200.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday. Two analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $170.04.
Insider Activity at Apple
In other Apple news, CFO Luca Maestri sold 176,299 shares of Apple 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 transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Luca Maestri sold 176,299 shares of the firm’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at $17,259,454.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 20,200 shares of Apple stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the completion of the transaction, the insider now directly owns 31,505 shares in the company, valued at $4,685,423.60. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.
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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
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