SeaCrest Wealth Management LLC Has $65.30 Million Stock Holdings in Apple Inc. $AAPL

SeaCrest Wealth Management LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 8.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 318,283 shares of the iPhone maker’s stock after selling 31,115 shares during the quarter. Apple accounts for about 7.1% of SeaCrest Wealth Management LLC’s holdings, making the stock its biggest holding. SeaCrest Wealth Management LLC’s holdings in Apple were worth $65,302,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Kingstone Capital Partners Texas LLC increased its holdings in Apple by 573,627.2% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after purchasing an additional 205,656,808 shares in the last quarter. Norges Bank acquired a new position in Apple in the 4th quarter worth about $46,868,648,000. Nuveen LLC acquired a new position in Apple in the 1st quarter worth about $17,472,482,000. GAMMA Investing LLC increased its holdings in Apple by 25,934.1% in the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock worth $133,425,490,000 after purchasing an additional 59,835,676 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Apple by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker’s stock worth $349,532,608,000 after purchasing an additional 49,168,843 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 34,821 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 136,687 shares of the company’s stock, 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 SEC, which is available at the SEC website. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Monness Crespi & Hardt upped their target price on Apple from $245.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 1st. BMO Capital Markets reaffirmed a “buy” rating on shares of Apple in a report on Wednesday, August 13th. Evercore ISI set a $290.00 target price on Apple and gave the stock an “outperform” rating in a report on Friday. Sanford C. Bernstein assumed coverage on Apple in a report on Monday, September 15th. They issued an “outperform” rating and a $290.00 target price for the company. Finally, Tigress Financial increased their price target on Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $245.66.

Apple Trading Down 0.5%

NASDAQ AAPL opened at $255.46 on Monday. The business has a 50 day simple moving average of $228.87 and a 200 day simple moving average of $213.22. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The stock has a market capitalization of $3.79 trillion, a P/E ratio of 38.76, a P/E/G ratio of 2.65 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. During the same quarter last year, the firm posted $1.40 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. Research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm 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 of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is currently 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.