WNY Asset Management LLC Cuts Holdings in Apple Inc. $AAPL

WNY Asset Management LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,387 shares of the iPhone maker’s stock after selling 106 shares during the period. Apple comprises 1.5% of WNY Asset Management LLC’s investment portfolio, making the stock its 16th biggest holding. WNY Asset Management LLC’s holdings in Apple were worth $12,970,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. IFP Advisors Inc raised its stake in shares of Apple by 25.4% during the 1st quarter. IFP Advisors Inc now owns 424,273 shares of the iPhone maker’s stock worth $94,254,000 after buying an additional 85,862 shares in the last quarter. Aspen Capital Management LLC purchased a new position in Apple in the 1st quarter valued at approximately $4,861,000. OneAscent Financial Services LLC increased its stake in Apple by 127.1% in the 1st quarter. OneAscent Financial Services LLC now owns 149,424 shares of the iPhone maker’s stock valued at $33,232,000 after purchasing an additional 83,636 shares in the last quarter. Morse Asset Management Inc increased its stake in Apple by 1.4% in the 1st quarter. Morse Asset Management Inc now owns 40,165 shares of the iPhone maker’s stock valued at $8,922,000 after purchasing an additional 555 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC increased its stake in Apple by 10.9% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 15,312 shares of the iPhone maker’s stock valued at $3,401,000 after purchasing an additional 1,511 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Deirdre O’brien sold 34,821 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is owned by company insiders.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $232.14 on Tuesday. The business’s fifty day moving average price is $216.40 and its two-hundred day moving average price is $212.63. The stock has a market cap of $3.45 trillion, a PE ratio of 35.23, a price-to-earnings-growth ratio of 2.42 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a one year low of $169.21 and a one year high of $260.10.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.Apple’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.40 EPS. On average, analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is 15.78%.

Analyst Ratings Changes

Several research firms recently weighed in on AAPL. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research note on Friday, July 25th. BMO Capital Markets reaffirmed a “buy” rating on shares of Apple in a research note on Wednesday, August 13th. Barclays raised their price objective on Apple from $173.00 to $180.00 and gave the company an “underweight” rating in a research note on Friday, August 1st. Monness Crespi & Hardt raised their price objective on Apple from $245.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Finally, DA Davidson reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Apple in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average price target of $237.37.

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.