Apple Inc. (NASDAQ:AAPL) is Total Clarity Wealth Management Inc.’s 6th Largest Position

Total Clarity Wealth Management Inc. trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 5.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,859 shares of the iPhone maker’s stock after selling 1,726 shares during the quarter. Apple comprises 2.0% of Total Clarity Wealth Management Inc.’s portfolio, making the stock its 6th largest position. Total Clarity Wealth Management Inc.’s holdings in Apple were worth $5,868,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Fidelis Capital Partners LLC lifted its position in Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after buying an additional 31,278 shares in the last quarter. Access Investment Management LLC acquired a new position in Apple during the first quarter valued at approximately $140,000. Hoese & Co LLP lifted its position in Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 57 shares in the last quarter. Sage Financial Group Inc. acquired a new position in Apple during the second quarter valued at approximately $206,000. Finally, Benchmark Wealth Management LLC acquired a new position in Apple during the second quarter valued at approximately $208,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AAPL shares. Barclays reduced their price target on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday. Needham & Company LLC restated a “buy” rating and issued a $260.00 target price on shares of Apple in a research note on Friday. Citigroup upped their target price on shares of Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Cfra lifted their target price on Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus price target of $236.23.

Insider Buying and Selling at Apple

In other Apple news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the transaction, the chief financial officer now owns 107,788 shares in the company, valued at $24,416,137.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 417,924 shares of company stock valued at $94,142,399. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

AAPL opened at $222.91 on Monday. The company has a market capitalization of $3.39 trillion, a price-to-earnings ratio of 36.66, a price-to-earnings-growth ratio of 2.41 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The business has a 50 day moving average price of $227.18 and a two-hundred day moving average price of $212.64.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 145.09% and a net margin of 23.97%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 earnings per share. Research analysts predict that Apple Inc. will post 7.48 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 11th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s dividend payout ratio is currently 16.45%.

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.