Apple Inc. (NASDAQ:AAPL) is Oak Hill Wealth Advisors LLC’s 5th Largest Position

Oak Hill Wealth Advisors LLC lowered its stake in Apple Inc. (NASDAQ:AAPL) by 0.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,738 shares of the iPhone maker’s stock after selling 391 shares during the period. Apple makes up approximately 3.9% of Oak Hill Wealth Advisors LLC’s portfolio, making the stock its 5th biggest holding. Oak Hill Wealth Advisors LLC’s holdings in Apple were worth $12,163,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Atlantic Private Wealth LLC purchased a new stake in Apple during the first quarter worth $30,000. Summit Wealth Group LLC increased its holdings in Apple by 16,252.3% during the 1st quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 6,949,659 shares in the last quarter. HBC Financial Services PLLC grew its position in shares of Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares during the last quarter. Clear Perspectives Financial Planning LLC raised its position in shares of Apple by 27.3% during the 1st quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock worth $172,000 after purchasing an additional 211 shares during the last quarter. Finally, Magellan Asset Management Ltd grew its holdings in Apple by 10.6% during the 2nd quarter. Magellan Asset Management Ltd now owns 1,323 shares of the iPhone maker’s stock valued at $181,000 after buying an additional 127 shares during the last quarter. 58.51% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $170.77 on Wednesday. The stock has a fifty day moving average of $177.09 and a 200-day moving average of $179.31. The company has a market capitalization of $2.67 trillion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 2.33 and a beta of 1.28. Apple Inc. has a one year low of $124.17 and a one year high of $198.23. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.92 and a current ratio of 0.98.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, topping the consensus estimate of $1.19 by $0.07. Apple had a net margin of 24.68% and a return on equity of 164.92%. The business had revenue of $81.80 billion during the quarter, compared to analysts’ expectations of $81.79 billion. During the same period last year, the company posted $1.20 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, equities analysts anticipate that Apple Inc. will post 6.04 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Friday, August 11th. Apple’s dividend payout ratio (DPR) is currently 16.13%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AAPL shares. Rosenblatt Securities reissued a “neutral” rating and issued a $198.00 price objective on shares of Apple in a research report on Tuesday, September 12th. Jefferies Financial Group lowered their target price on shares of Apple from $220.00 to $195.00 and set a “buy” rating for the company in a report on Tuesday. Barclays lowered their price objective on shares of Apple from $167.00 to $166.00 and set an “equal weight” rating for the company in a research note on Monday. Wedbush lifted their target price on Apple from $230.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 13th. Finally, Robert W. Baird increased their target price on shares of Apple from $180.00 to $204.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 1st. Ten equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $198.08.

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 240,569 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total value of $41,498,152.50. Following the completion of the sale, the chief executive officer now owns 3,280,053 shares in the company, valued at approximately $565,809,142.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Apple news, CEO Timothy D. Cook sold 240,569 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total value of $41,498,152.50. Following the completion of the sale, the chief executive officer now owns 3,280,053 shares in the company, valued at approximately $565,809,142.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Deirdre O’brien sold 15,419 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $178.56, for a total value of $2,753,216.64. Following the completion of the sale, the senior vice president now owns 136,445 shares of the company’s stock, valued at approximately $24,363,619.20. The disclosure for this sale can be found here. Insiders have sold 455,004 shares of company stock worth $79,238,767 in the last ninety days. Insiders own 0.06% of the company’s stock.

Apple 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.