Apple Inc. (NASDAQ:AAPL) is Intellectus Partners LLC’s 9th Largest Position

Intellectus Partners LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 3.1% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 24,764 shares of the iPhone maker’s stock after selling 788 shares during the quarter. Apple comprises approximately 1.4% of Intellectus Partners LLC’s portfolio, making the stock its 9th biggest position. Intellectus Partners LLC’s holdings in Apple were worth $4,803,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of AAPL. Atlantic Private Wealth LLC bought a new stake in shares of Apple during the 1st quarter valued at about $30,000. Summit Wealth Group LLC grew its stake in shares of 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 purchasing an additional 6,949,659 shares during the period. HBC Financial Services PLLC grew its stake in shares of Apple by 21.7% during the 1st 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 period. Clear Perspectives Financial Planning LLC grew its stake 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 valued at $172,000 after purchasing an additional 211 shares during the period. Finally, Magellan Asset Management Ltd grew its stake in shares of 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 purchasing an additional 127 shares during the period. 58.51% of the stock is currently owned by institutional investors.

Apple Stock Performance

Apple stock opened at $184.80 on Tuesday. The company has a 50 day moving average price of $176.38 and a 200-day moving average price of $180.29. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.94 and a current ratio of 0.99. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $198.23. The company has a market capitalization of $2.87 trillion, a PE ratio of 30.20, a P/E/G ratio of 2.58 and a beta of 1.30.

Apple (NASDAQ:AAPL) last posted its quarterly 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 25.31% and a return on equity of 160.78%. The firm had revenue of $89.50 billion during the quarter, compared to the consensus estimate of $89.34 billion. During the same quarter in the previous year, the firm posted $1.29 earnings per share. The company’s revenue was down .7% on a year-over-year basis. As a group, equities analysts forecast that Apple Inc. will post 6.55 earnings per share for the current year.

Apple Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 240,569 shares of the business’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 value of $41,498,152.50. Following the completion of the transaction, the chief executive officer now owns 3,280,053 shares of the company’s stock, valued at $565,809,142.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Apple news, CFO Luca Maestri sold 31,685 shares of Apple stock in a transaction on Monday, October 9th. The shares were sold at an average price of $178.69, for a total value of $5,661,792.65. Following the transaction, the chief financial officer now directly owns 107,661 shares of the company’s stock, valued at $19,237,944.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 240,569 shares of Apple stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the completion of the transaction, the chief executive officer now directly owns 3,280,053 shares in the company, valued at $565,809,142.50. The disclosure for this sale can be found here. Insiders sold 439,585 shares of company stock valued at $76,485,550 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AAPL. Piper Sandler Companies boosted their price objective on Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, July 31st. Bank of America reiterated a “neutral” rating and set a $173.00 price objective on shares of Apple in a research note on Tuesday, October 24th. Credit Suisse Group reiterated an “outperform” rating and set a $220.00 price objective on shares of Apple in a research note on Friday, September 15th. Citigroup reissued a “buy” rating and issued a $240.00 price target on shares of Apple in a report on Friday, August 4th. Finally, UBS Group reissued a “neutral” rating and issued a $190.00 price target on shares of Apple in a report on Wednesday, September 27th. Ten research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $197.82.

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.