Apple Inc. $AAPL Shares Sold by Xcel Wealth Management LLC

Xcel Wealth Management LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,711 shares of the iPhone maker’s stock after selling 919 shares during the quarter. Apple accounts for approximately 3.0% of Xcel Wealth Management LLC’s portfolio, making the stock its 8th biggest position. Xcel Wealth Management LLC’s holdings in Apple were worth $10,610,000 as of its most recent SEC filing.

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

Apple Price Performance

AAPL stock opened at $256.48 on Wednesday. The business has a 50 day moving average price of $234.84 and a 200 day moving average price of $215.25. The stock has a market cap of $3.81 trillion, a price-to-earnings ratio of 38.92, a PEG ratio of 2.50 and a beta of 1.09. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two 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.

Apple (NASDAQ:AAPL) last posted its earnings results 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 firm had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.40 earnings per share. Equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal 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 was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple’s payout ratio is presently 15.78%.

Insider Buying and Selling

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the sale, the senior vice president owned 179,158 shares in the company, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The shares were 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 owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. This represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,922 shares of company stock worth $64,320,190 over the last 90 days. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AAPL shares. Jefferies Financial Group downgraded Apple from a “hold” rating to an “underperform” rating and dropped their target price for the company from $205.82 to $205.16 in a research report on Friday, October 3rd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $266.00 target price on shares of Apple in a research report on Tuesday, August 26th. Seaport Res Ptn raised Apple to a “strong-buy” rating in a research report on Wednesday, October 1st. DA Davidson reiterated a “neutral” rating and issued a $250.00 price objective on shares of Apple in a research note on Thursday, September 11th. Finally, Phillip Securities lowered shares of Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 target price on the stock. in a research note on Thursday, September 11th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $247.49.

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.