Selective Wealth Management Inc. Increases Holdings in Apple Inc. (NASDAQ:AAPL)

Selective Wealth Management Inc. boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 29.0% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,389 shares of the iPhone maker’s stock after acquiring an additional 6,385 shares during the quarter. Apple accounts for about 2.7% of Selective Wealth Management Inc.’s investment portfolio, making the stock its 8th largest position. Selective Wealth Management Inc.’s holdings in Apple were worth $6,409,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AAPL. China Universal Asset Management Co. Ltd. increased its stake in Apple by 127.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock worth $12,943,000 after acquiring an additional 42,282 shares during the last quarter. Investments & Financial Planning LLC boosted its holdings in shares of Apple by 13.4% in the 1st quarter. Investments & Financial Planning LLC now owns 2,969 shares of the iPhone maker’s stock worth $509,000 after purchasing an additional 351 shares in the last quarter. Integris Wealth Management LLC boosted its holdings in shares of Apple by 0.5% in the 1st quarter. Integris Wealth Management LLC now owns 40,174 shares of the iPhone maker’s stock worth $6,889,000 after purchasing an additional 212 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Apple by 0.5% in the 1st quarter. Signaturefd LLC now owns 470,790 shares of the iPhone maker’s stock worth $80,731,000 after purchasing an additional 2,305 shares in the last quarter. Finally, Richardson Financial Services Inc. boosted its holdings in shares of Apple by 3.8% in the 1st quarter. Richardson Financial Services Inc. now owns 26,928 shares of the iPhone maker’s stock worth $4,618,000 after purchasing an additional 991 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following 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 6.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 408,170 shares of company stock valued at $92,007,745. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Down 0.1 %

Shares of NASDAQ:AAPL opened at $234.93 on Friday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The firm has a market capitalization of $3.55 trillion, a P/E ratio of 38.64, a P/E/G ratio of 2.28 and a beta of 1.24. The stock has a 50 day moving average price of $228.83 and a 200-day moving average price of $219.23. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the prior year, the company earned $1.46 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Piper Sandler reiterated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a report on Wednesday, October 9th. Melius Research reiterated a “buy” rating and issued a $265.00 price objective on shares of Apple in a report on Tuesday, August 27th. Rosenblatt Securities upped their price objective on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Oppenheimer reiterated a “buy” rating and issued a $250.00 price objective on shares of Apple in a report on Tuesday, October 1st. Finally, Moffett Nathanson dropped their target price on Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average target price of $235.25.

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.