Stone Point Wealth LLC Sells 716 Shares of Apple Inc. (NASDAQ:AAPL)

Stone Point Wealth LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 3.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,314 shares of the iPhone maker’s stock after selling 716 shares during the period. Apple accounts for 1.7% of Stone Point Wealth LLC’s portfolio, making the stock its 11th largest holding. Stone Point Wealth LLC’s holdings in Apple were worth $4,134,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AAPL. Moneta Group Investment Advisors LLC raised its position in shares of Apple by 116,483.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock valued at $74,002,245,000 after purchasing an additional 569,066,184 shares during the period. Norges Bank bought a new stake in Apple in the 4th quarter valued at $21,746,940,000. Morgan Stanley increased its holdings in Apple by 14.2% in the 4th quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock valued at $27,110,586,000 after acquiring an additional 25,926,552 shares during the last quarter. Berkshire Hathaway Inc increased its holdings in Apple by 2.3% in the 1st quarter. Berkshire Hathaway Inc now owns 915,560,382 shares of the iPhone maker’s stock valued at $150,975,907,000 after acquiring an additional 20,424,207 shares during the last quarter. Finally, Providence Capital Advisors LLC increased its holdings in Apple by 16,638.6% in the 1st quarter. Providence Capital Advisors LLC now owns 15,593,974 shares of the iPhone maker’s stock valued at $94,566,000 after acquiring an additional 15,500,812 shares during the last quarter. 58.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Morgan Stanley reduced their price target on shares of Apple from $215.00 to $210.00 and set an “overweight” rating on the stock in a report on Monday, October 16th. Needham & Company LLC restated a “buy” rating and issued a $195.00 target price on shares of Apple in a report on Tuesday. KeyCorp restated a “sector weight” rating on shares of Apple in a report on Monday. Evercore ISI restated an “outperform” rating and issued a $210.00 target price on shares of Apple in a report on Thursday, September 28th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $198.00 target price on shares of Apple in a report on Tuesday, September 12th. Ten research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.08.

Insider Buying and Selling

In other Apple news, SVP Deirdre O’brien sold 65,536 shares of the company’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $172.11, for a total transaction of $11,279,400.96. Following the transaction, the senior vice president now owns 136,445 shares in the company, valued at approximately $23,483,548.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Apple news, SVP Deirdre O’brien sold 65,536 shares of the company’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $172.11, for a total transaction of $11,279,400.96. Following the transaction, the senior vice president now owns 136,445 shares in the company, valued at approximately $23,483,548.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 240,569 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $565,809,142.50. The disclosure for this sale can be found here. Insiders sold a total of 455,004 shares of company stock worth $79,238,767 in the last 90 days. 0.06% of the stock is owned by corporate insiders.

Apple Trading Up 1.9 %

NASDAQ AAPL opened at $173.97 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.63. The firm has a market cap of $2.72 trillion, a PE ratio of 29.24, a price-to-earnings-growth ratio of 2.35 and a beta of 1.28. The company has a 50 day moving average price of $176.96 and a 200 day moving average price of $179.35. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $198.23.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, topping the consensus estimate of $1.19 by $0.07. The firm had revenue of $81.80 billion during the quarter, compared to analyst estimates of $81.79 billion. Apple had a net margin of 24.68% and a return on equity of 164.92%. Apple’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.20 EPS. As a group, sell-side analysts forecast that Apple Inc. will post 6.04 EPS for the current fiscal year.

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.