Apple Inc. (NASDAQ:AAPL) is NBW Capital LLC’s 3rd Largest Position

NBW Capital LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,681 shares of the iPhone maker’s stock after selling 558 shares during the period. Apple makes up approximately 3.6% of NBW Capital LLC’s holdings, making the stock its 3rd biggest holding. NBW Capital LLC’s holdings in Apple were worth $18,046,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Access Investment Management LLC bought a new stake in Apple during the first quarter worth approximately $140,000. Hoese & Co LLP lifted its stake in shares of Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares during the last quarter. Sage Financial Group Inc. purchased a new position in shares of Apple in the 2nd quarter worth approximately $206,000. Benchmark Wealth Management LLC bought a new position in shares of Apple during the 2nd quarter valued at approximately $208,000. Finally, SMH Capital Advisors Inc. purchased a new stake in Apple during the 2nd quarter valued at $209,000. 60.41% of the stock is currently owned by institutional investors.

Apple Stock Performance

NASDAQ:AAPL opened at $224.23 on Wednesday. The business’s 50-day simple moving average is $226.72 and its 200-day simple moving average is $215.06. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The stock has a market capitalization of $3.39 trillion, a PE ratio of 36.88, a price-to-earnings-growth ratio of 2.22 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter last year, the company posted $1.46 earnings per share. Apple’s quarterly revenue was up 6.1% on a year-over-year basis. Sell-side analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be given a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. Apple’s dividend payout ratio is currently 16.45%.

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 412,746 shares of company stock valued at $93,021,362 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Piper Sandler reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Wednesday, October 9th. Jefferies Financial Group downgraded shares of Apple from a “buy” rating to a “hold” rating and upped their price target for the company from $205.00 to $212.92 in a report on Monday, October 7th. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Wedbush restated an “outperform” rating and set a $285.00 target price on shares of Apple in a research report on Monday, September 9th. Finally, Oppenheimer restated a “buy” rating and set a $250.00 price objective on shares of Apple in a report on Tuesday, October 1st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $235.51.

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.