Avaii Wealth Management LLC Sells 238 Shares of Apple Inc. $AAPL

Avaii Wealth Management LLC cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,976 shares of the iPhone maker’s stock after selling 238 shares during the period. Apple makes up about 1.5% of Avaii Wealth Management LLC’s portfolio, making the stock its 19th biggest holding. Avaii Wealth Management LLC’s holdings in Apple were worth $3,483,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First National Bank of Hutchinson lifted its stake in shares of Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after purchasing an additional 6,982 shares during the last quarter. Eagle Capital Management LLC lifted its stake in shares of Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after purchasing an additional 272 shares during the last quarter. Brighton Jones LLC lifted its stake in shares of Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after purchasing an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Apple by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after purchasing an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE lifted its stake in shares of Apple by 2.4% in the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock valued at $12,587,000 after purchasing an additional 1,155 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Trading Down 0.1%

Shares of NASDAQ:AAPL opened at $256.48 on Wednesday. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The business’s fifty day simple moving average is $234.84 and its 200-day simple moving average is $215.25. The company has a market capitalization of $3.81 trillion, a PE ratio of 38.92, a P/E/G ratio of 2.50 and a beta of 1.09. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

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. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. During the same period last year, the business posted $1.40 EPS. The business’s revenue was up 9.6% compared to the same quarter last year. As a group, equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is currently 15.78%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Seaport Res Ptn raised Apple to a “strong-buy” rating in a research note on Wednesday, October 1st. Monness Crespi & Hardt increased their price target 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 reiterated a “buy” rating on shares of Apple in a report on Wednesday, August 13th. Morgan Stanley set a $298.00 price target on Apple and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Finally, Bank of America increased their price target on Apple from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $247.49.

Insider Activity

In other news, SVP Deirdre O’brien sold 43,013 shares of the firm’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at $35,181,866.93. This trade represents a 23.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of the firm’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 of the company’s stock, valued at $842,412,558.95. The trade was a 3.81% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 254,922 shares of company stock worth $64,320,190. 0.06% of the stock is currently owned by company insiders.

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.