Great Waters Wealth Management Sells 292 Shares of Apple Inc. $AAPL

Great Waters Wealth Management reduced its stake in Apple Inc. (NASDAQ:AAPL) by 0.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,097 shares of the iPhone maker’s stock after selling 292 shares during the quarter. Apple makes up approximately 0.8% of Great Waters Wealth Management’s investment portfolio, making the stock its 13th biggest position. Great Waters Wealth Management’s holdings in Apple were worth $6,380,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of AAPL. Advanced Portfolio Management LLC raised its holdings in Apple by 0.3% during the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock valued at $3,260,000 after acquiring an additional 47 shares during the period. Salus Financial Advisors LLC raised its holdings in Apple by 3.9% during the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock valued at $291,000 after acquiring an additional 49 shares during the period. Sharpepoint LLC raised its holdings in Apple by 3.5% during the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock valued at $322,000 after acquiring an additional 51 shares during the period. Redwood Financial Network Corp raised its holdings in Apple by 0.6% during the fourth quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker’s stock valued at $2,184,000 after acquiring an additional 53 shares during the period. Finally, Mission Hills Financial Advisory LLC raised its holdings in Apple by 1.3% during the first quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker’s stock valued at $892,000 after acquiring an additional 53 shares during the period. 67.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AAPL shares. BMO Capital Markets reaffirmed a “buy” rating on shares of Apple in a report on Wednesday, August 13th. UBS Group reaffirmed a “neutral” rating on shares of Apple in a report on Monday, September 8th. Tigress Financial lifted their target price on Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a report on Wednesday, September 17th. Raymond James Financial reaffirmed an “outperform” rating and issued a $240.00 target price (up from $230.00) on shares of Apple in a report on Friday, August 1st. Finally, Moffett Nathanson raised Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price on the stock in a report on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $245.66.

Apple Stock Down 0.4%

Shares of NASDAQ AAPL opened at $254.43 on Tuesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a market capitalization of $3.78 trillion, a price-to-earnings ratio of 38.61, a PEG ratio of 2.65 and a beta of 1.11. The stock has a 50 day moving average price of $229.71 and a 200 day moving average price of $213.51. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion during the quarter, compared to analyst estimates 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 previous year, the business earned $1.40 earnings per share. Sell-side analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

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

Insider Activity

In other news, SVP Deirdre O’brien sold 34,821 shares of the company’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 transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

Apple Company 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.