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

Luminvest Wealth Management LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 18.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,985 shares of the iPhone maker’s stock after selling 655 shares during the period. Apple makes up about 0.3% of Luminvest Wealth Management LLC’s holdings, making the stock its 19th largest holding. Luminvest Wealth Management LLC’s holdings in Apple were worth $748,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of AAPL. Drystone LLC purchased a new stake in Apple during the 4th quarter worth approximately $25,000. Bull Oak Capital LLC increased its position in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares during the period. SPX Gestao de Recursos Ltda purchased a new stake in shares of Apple during the third quarter worth $71,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Apple in the third quarter valued at $77,000. Finally, ARK Investment Management LLC purchased a new position in Apple in the third quarter valued at $110,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Apple

In other Apple news, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the transaction, the chief operating officer now owns 390,059 shares in the company, valued at approximately $87,377,116.59. This represents a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Katherine L. Adams sold 38,822 shares of the business’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the sale, the senior vice president now owns 179,158 shares in the company, valued at $40,072,269.86. The trade was a 17.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 182,451 shares of company stock worth $40,818,720 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Apple Trading Up 4.1 %

Shares of AAPL stock opened at $198.15 on Friday. Apple Inc. has a twelve month low of $164.08 and a twelve month high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The business’s 50 day moving average is $222.87 and its two-hundred day moving average is $231.14. The company has a market capitalization of $2.98 trillion, a P/E ratio of 31.45, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Equities analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.50%. Apple’s dividend payout ratio is currently 15.87%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AAPL shares. Maxim Group increased their price target on Apple to $215.00 and gave the company a “hold” rating in a research report on Friday, February 21st. Oppenheimer cut shares of Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Barclays lifted their price target on shares of Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Sanford C. Bernstein increased their price objective on shares of Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Redburn Partners set a $230.00 price objective on shares of Apple in a research report on Friday, January 31st. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $240.26.

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.