Ridgeline Wealth LLC Sells 293 Shares of Apple Inc. $AAPL

Ridgeline Wealth LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 11.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,265 shares of the iPhone maker’s stock after selling 293 shares during the period. Ridgeline Wealth LLC’s holdings in Apple were worth $465,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Ryan Investment Management Inc. acquired a new stake in shares of Apple during the 2nd quarter worth approximately $31,000. ROSS JOHNSON & Associates LLC boosted its position in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares in the last quarter. Conquis Financial LLC acquired a new stake in shares of Apple during the 4th quarter worth approximately $63,000. LSV Asset Management acquired a new stake in shares of Apple during the 4th quarter worth approximately $65,000. Finally, Elite Financial Inc. acquired a new stake in shares of Apple during the 1st quarter worth approximately $58,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

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 shares were sold at an average price of $223.20, for a total transaction 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 trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on AAPL shares. Moffett Nathanson upgraded shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target on the stock in a research report on Thursday, September 4th. Sanford C. Bernstein began coverage on shares of Apple in a research note on Monday, September 15th. They issued an “outperform” rating and a $290.00 price objective for the company. Evercore ISI set a $290.00 price objective on shares of Apple and gave the company an “outperform” rating in a research note on Friday. Morgan Stanley set a $240.00 price objective on shares of Apple and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Finally, HSBC set a $220.00 price objective on shares of Apple and gave the company a “hold” rating in a research note on Monday, September 8th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned 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 stock has an average rating of “Moderate Buy” and an average price target of $245.66.

Apple Price Performance

AAPL stock opened at $254.43 on Tuesday. The company has a fifty day moving average price of $229.71 and a 200-day moving average price of $213.51. The company has a market capitalization of $3.78 trillion, a P/E ratio of 38.61, a PEG ratio of 2.65 and a beta of 1.11. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. 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 (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.40 earnings per share. As a group, equities analysts expect that Apple Inc. will post 7.28 EPS 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 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 dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is presently 15.78%.

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.