Apple Inc. $AAPL is Ridgecrest Wealth Partners LLC’s Largest Position

Ridgecrest Wealth Partners LLC cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,220 shares of the iPhone maker’s stock after selling 831 shares during the quarter. Apple comprises 11.5% of Ridgecrest Wealth Partners LLC’s portfolio, making the stock its biggest position. Ridgecrest Wealth Partners LLC’s holdings in Apple were worth $21,793,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Burkett Financial Services LLC lifted its stake in shares of Apple by 0.6% during the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock worth $3,199,000 after purchasing an additional 93 shares in the last quarter. Avid Wealth Partners LLC grew its stake in shares of Apple by 28.3% in the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock valued at $935,000 after buying an additional 930 shares in the last quarter. Bell & Brown Wealth Advisors LLC raised its holdings in shares of Apple by 0.4% during the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock valued at $13,772,000 after buying an additional 240 shares during the period. Andina Capital Management LLC lifted its position in Apple by 209.2% during the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock worth $1,507,000 after acquiring an additional 4,591 shares in the last quarter. Finally, Plum Street Advisors LLC boosted its holdings in Apple by 4.0% in the 1st quarter. Plum Street Advisors LLC now owns 7,889 shares of the iPhone maker’s stock worth $1,752,000 after acquiring an additional 301 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AAPL. DA Davidson reiterated a “neutral” rating and set a $250.00 price objective on shares of Apple in a research note on Thursday, September 11th. Melius Research set a $290.00 price target on shares of Apple and gave the company a “buy” rating in a report on Wednesday, September 10th. Seaport Res Ptn upgraded shares of Apple to a “strong-buy” rating in a report on Wednesday, October 1st. Morgan Stanley set a $298.00 price target on Apple and gave the stock an “overweight” rating in a research note on Thursday. Finally, Tigress Financial raised their price objective on Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 17th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $247.49.

Insider Activity at Apple

In other news, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the transaction, the senior vice president directly owned 179,158 shares in the company, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 129,963 shares of the business’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at $842,412,558.95. This represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,922 shares of company stock worth $64,320,190 over the last quarter. 0.06% of the stock is currently owned by company insiders.

Apple Trading Up 0.3%

NASDAQ:AAPL opened at $258.02 on Monday. The stock has a market cap of $3.83 trillion, a price-to-earnings ratio of 39.15, a PEG ratio of 2.51 and a beta of 1.09. 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 1 year low of $169.21 and a 1 year high of $260.10. The business has a fifty day moving average of $233.09 and a 200-day moving average of $214.69.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.14. The business 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 quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.40 earnings per share. Equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a $0.26 dividend. 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%.

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.