Apple Inc. (NASDAQ:AAPL) Shares Sold by Forza Wealth Management LLC

Forza Wealth Management LLC trimmed its position in Apple Inc. (NASDAQ:AAPL) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,785 shares of the iPhone maker’s stock after selling 251 shares during the quarter. Apple comprises 1.5% of Forza Wealth Management LLC’s investment portfolio, making the stock its 13th biggest position. Forza Wealth Management LLC’s holdings in Apple were worth $3,062,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of AAPL. Atlantic Private Wealth LLC acquired a new position in shares of Apple in the 1st quarter worth approximately $30,000. Summit Wealth Group LLC lifted 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 worth $42,000 after buying an additional 6,949,659 shares in the last quarter. HBC Financial Services PLLC lifted its holdings in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares in the last quarter. Clear Perspectives Financial Planning LLC lifted its holdings in 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 buying an additional 211 shares in the last quarter. Finally, Magellan Asset Management Ltd lifted 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 worth $181,000 after buying an additional 127 shares in the last quarter. 58.51% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Up 0.3 %

AAPL stock opened at $170.77 on Wednesday. Apple Inc. has a one year low of $124.17 and a one year high of $198.23. The stock 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. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.92 and a current ratio of 0.98. The company has a fifty day moving average of $177.09 and a 200-day moving average of $179.31.

Apple (NASDAQ:AAPL) last released its 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 company had revenue of $81.80 billion during the quarter, compared to analysts’ expectations of $81.79 billion. During the same quarter last year, the business earned $1.20 EPS. The business’s revenue was down 1.4% on a year-over-year basis. As a group, analysts expect that Apple Inc. will post 6.04 EPS for the current year.

Apple Announces Dividend

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

Insider Activity at Apple

In related news, SVP Deirdre O’brien sold 15,419 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were 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 in the company, valued at $24,363,619.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Apple news, SVP Deirdre O’brien sold 15,419 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $178.56, for a total transaction of $2,753,216.64. Following the completion of the transaction, the senior vice president now directly owns 136,445 shares in the company, valued at approximately $24,363,619.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 240,569 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the transaction, the chief executive officer now owns 3,280,053 shares of the company’s stock, valued at $565,809,142.50. The disclosure for this sale can be found here. Insiders sold 455,004 shares of company stock worth $79,238,767 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AAPL shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of Apple from $180.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 24th. StockNews.com started coverage on shares of Apple in a report on Thursday, October 5th. They set a “hold” rating on the stock. Wells Fargo & Company increased their target price on shares of Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, July 24th. Sanford C. Bernstein reissued a “market perform” rating and issued a $195.00 price objective on shares of Apple in a research report on Monday, October 9th. Finally, Wedbush increased their price objective on shares of Apple from $230.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 13th. Ten analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $198.08.

About Apple

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.