Xcel Wealth Management LLC Sells 528 Shares of Apple Inc. (NASDAQ:AAPL)

Xcel Wealth Management LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 66,343 shares of the iPhone maker’s stock after selling 528 shares during the period. Apple makes up approximately 4.1% of Xcel Wealth Management LLC’s investment portfolio, making the stock its 4th largest holding. Xcel Wealth Management LLC’s holdings in Apple were worth $12,869,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of AAPL. IFM Investors Pty Ltd raised its stake in shares of Apple by 20.0% in the 1st quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock worth $456,728,000 after buying an additional 435,891 shares in the last quarter. Ironwood Wealth Management LLC. raised its position in Apple by 0.4% in the first quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock worth $42,016,000 after acquiring an additional 1,040 shares in the last quarter. Markel Corp lifted its holdings in Apple by 0.7% in the 1st quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock valued at $210,752,000 after acquiring an additional 8,450 shares during the last quarter. Camden Capital LLC boosted its position in shares of Apple by 9.2% during the 1st quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock valued at $27,305,000 after purchasing an additional 13,200 shares in the last quarter. Finally, Harbor Island Capital LLC raised its holdings in shares of Apple by 0.3% in the 1st quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock worth $23,629,000 after purchasing an additional 400 shares in the last quarter. 58.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AAPL has been the topic of several recent research reports. Piper Sandler lifted their price target on shares of Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, July 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 target price on shares of Apple in a report on Tuesday, October 31st. StockNews.com assumed coverage on Apple in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Piper Sandler Companies upped their price objective on shares of Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, July 31st. Finally, Robert W. Baird lifted 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $197.82.

Insider Activity

In other Apple news, SVP Deirdre O’brien sold 15,419 shares of the business’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 transaction, the senior vice president now directly owns 136,445 shares in the company, valued at $24,363,619.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Apple news, SVP Deirdre O’brien sold 15,419 shares of the business’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 transaction, the senior vice president now directly owns 136,445 shares in the company, valued at $24,363,619.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Luca Maestri sold 31,685 shares of the business’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $178.69, for a total transaction of $5,661,792.65. Following the completion of the transaction, the chief financial officer now owns 107,661 shares in the company, valued at $19,237,944.09. The disclosure for this sale can be found here. In the last three months, insiders have sold 455,004 shares of company stock worth $79,238,767. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of Apple stock opened at $176.65 on Friday. 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 firm’s 50-day simple moving average is $176.80 and its 200-day simple moving average is $179.38. Apple Inc. has a twelve month low of $124.17 and a twelve month high of $198.23. The firm has a market cap of $2.76 trillion, a P/E ratio of 29.69, a price-to-earnings-growth ratio of 2.42 and a beta of 1.30.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.07. Apple had a net margin of 24.68% and a return on equity of 164.92%. The business had revenue of $89.50 billion for the quarter, compared to analyst estimates of $89.34 billion. During the same period in the previous year, the business earned $1.29 EPS. The firm’s revenue was down .7% on a year-over-year basis. As a group, research analysts expect that Apple Inc. will post 6.05 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 13th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, November 10th. This represents a $0.96 annualized dividend and a dividend yield of 0.54%. Apple’s dividend payout ratio (DPR) is currently 16.13%.

Apple Company 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.