Apple Inc. (NASDAQ:AAPL) Shares Sold by Capital Advisors Wealth Management LLC

Capital Advisors Wealth Management LLC cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,530 shares of the iPhone maker’s stock after selling 1,083 shares during the quarter. Apple comprises 2.2% of Capital Advisors Wealth Management LLC’s portfolio, making the stock its 13th biggest position. Capital Advisors Wealth Management LLC’s holdings in Apple were worth $11,773,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AAPL. Swedbank AB purchased a new position in Apple in the 1st quarter worth approximately $3,026,492,000. Strategic Financial Concepts LLC grew its holdings in Apple by 14,145.8% during the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after purchasing an additional 7,558,826 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in Apple by 158.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock worth $1,977,582,000 after buying an additional 7,067,379 shares during the period. Lazard Asset Management LLC lifted its holdings in Apple by 161.2% in the 1st quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock worth $1,502,068,000 after buying an additional 5,405,542 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new position in Apple in the 2nd quarter valued at about $834,368,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Performance

Shares of AAPL opened at $242.84 on Friday. The firm has a market capitalization of $3.67 trillion, a PE ratio of 39.94, a P/E/G ratio of 2.38 and a beta of 1.23. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The firm has a 50-day moving average price of $230.23 and a 200 day moving average price of $221.05. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $244.63.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data 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. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same period last year, the firm posted $1.46 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. Apple’s dividend payout ratio (DPR) is 16.45%.

Insider Activity at Apple

In other news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $24,416,137.76. The trade was a 35.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock valued at $92,007,745 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Bank of America boosted their price target on Apple to $256.00 and gave the stock a “buy” rating in a research note on Wednesday. Jefferies Financial Group lowered Apple from a “buy” rating to a “hold” rating and upped their target price for the company from $205.00 to $212.92 in a research report on Monday, October 7th. Tigress Financial raised their price target on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 28th. Maxim Group increased their price objective on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Monness Crespi & Hardt reissued a “buy” rating and set a $245.00 price objective on shares of Apple in a report on Monday, September 9th. Two 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $235.68.

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.