Apple Inc. $AAPL Holdings Lowered by Elevation Wealth Partners LLC

Elevation Wealth Partners LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 1.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 29,121 shares of the iPhone maker’s stock after selling 510 shares during the period. Apple comprises approximately 2.4% of Elevation Wealth Partners LLC’s portfolio, making the stock its 8th biggest holding. Elevation Wealth Partners LLC’s holdings in Apple were worth $5,975,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Apple by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker’s stock valued at $311,157,662,000 after purchasing an additional 5,005,297 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Apple by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker’s stock valued at $84,999,145,000 after buying an additional 6,307,413 shares during the period. Norges Bank bought a new position in shares of Apple during the fourth quarter valued at approximately $46,868,648,000. Northern Trust Corp raised its holdings in shares of Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after acquiring an additional 20,079,472 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Apple by 14.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock worth $26,220,566,000 after acquiring an additional 13,137,968 shares during the period. Institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Deirdre O’brien sold 34,821 shares of the company’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of research analyst reports. Citigroup reissued a “buy” rating on shares of Apple in a research report on Wednesday, September 10th. HSBC set a $220.00 price target on shares of Apple and gave the company a “hold” rating in a research report on Monday, September 8th. Loop Capital decreased their price target on shares of Apple from $230.00 to $226.00 and set a “hold” rating for the company in a research note on Thursday, August 21st. Needham & Company LLC restated a “hold” rating on shares of Apple in a report on Friday, July 25th. Finally, Wedbush restated an “outperform” rating and issued a $270.00 price objective on shares of Apple in a report on Tuesday, September 9th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $242.74.

Apple Stock Up 3.2%

NASDAQ AAPL opened at $245.50 on Friday. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $3.64 trillion, a P/E ratio of 37.25, a price-to-earnings-growth ratio of 2.55 and a beta of 1.11. The stock’s 50-day moving average price is $224.35 and its 200-day moving average price is $212.26.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. During the same period in the prior year, the firm posted $1.40 EPS. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s payout ratio is 15.78%.

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.