CPA Asset Management LLC Has $3.86 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

CPA Asset Management LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 13.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,906 shares of the iPhone maker’s stock after selling 3,048 shares during the quarter. Apple makes up approximately 2.8% of CPA Asset Management LLC’s portfolio, making the stock its 8th largest holding. CPA Asset Management LLC’s holdings in Apple were worth $3,861,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Atlantic Private Wealth LLC bought a new position in Apple during the first quarter worth about $30,000. Summit Wealth Group LLC boosted its position in Apple by 16,252.3% during the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 6,949,659 shares during the period. HBC Financial Services PLLC boosted its position in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares during the period. Clear Perspectives Financial Planning LLC boosted its position in Apple by 27.3% during the first 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 period. Finally, Magellan Asset Management Ltd boosted its position in shares of Apple by 10.6% in the second quarter. Magellan Asset Management Ltd now owns 1,323 shares of the iPhone maker’s stock valued at $181,000 after acquiring an additional 127 shares during the period. Institutional investors own 58.51% of the company’s stock.

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 240,569 shares of Apple stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $172.50, for a total value of $41,498,152.50. Following the sale, the chief executive officer now owns 3,280,053 shares in the company, valued at $565,809,142.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Timothy D. Cook sold 240,569 shares of the business’s stock in a transaction 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 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 document filed with the SEC, which is accessible through this link. Also, CFO Luca Maestri sold 32,010 shares of the business’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $177.89, for a total transaction of $5,694,258.90. Following the sale, the chief financial officer now owns 139,346 shares in the company, valued at approximately $24,788,259.94. The disclosure for this sale can be found here. Insiders have sold a total of 439,585 shares of company stock worth $76,485,550 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Raymond James raised their price objective on shares of Apple from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Citigroup restated a “buy” rating and issued a $240.00 price objective on shares of Apple in a research report on Friday, August 4th. Needham & Company LLC restated a “buy” rating and issued a $195.00 price objective on shares of Apple in a research report on Tuesday, October 31st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Apple from $180.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, July 24th. Finally, Piper Sandler Companies raised their price objective on shares of Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, July 31st. Ten investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $197.82.

Apple Stock Up 2.2 %

Shares of NASDAQ AAPL opened at $186.40 on Monday. The company has a quick ratio of 0.94, a current ratio of 0.99 and a debt-to-equity ratio of 1.53. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $198.23. The firm’s fifty day moving average is $176.47 and its 200 day moving average is $180.18. The company has a market cap of $2.90 trillion, a price-to-earnings ratio of 30.46, a PEG ratio of 2.58 and a beta of 1.30.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 EPS for the quarter, topping the consensus estimate of $1.39 by $0.07. The company had revenue of $89.50 billion for the quarter, compared to the consensus estimate of $89.34 billion. Apple had a net margin of 25.31% and a return on equity of 160.78%. The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.29 earnings per share. On average, equities research analysts expect that Apple Inc. will post 6.55 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Monday, November 13th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Friday, November 10th. Apple’s dividend payout ratio (DPR) is currently 15.69%.

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.