Centerline Wealth Advisors LLC Reduces Position in Apple Inc. $AAPL

Centerline Wealth Advisors LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 0.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,005 shares of the iPhone maker’s stock after selling 59 shares during the quarter. Apple accounts for 4.4% of Centerline Wealth Advisors LLC’s portfolio, making the stock its 8th biggest holding. Centerline Wealth Advisors LLC’s holdings in Apple were worth $9,028,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in AAPL. Burkett Financial Services LLC raised its stake in shares of Apple by 0.6% in 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 during the last quarter. Avid Wealth Partners LLC raised 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 worth $935,000 after purchasing an additional 930 shares during the last quarter. Bell & Brown Wealth Advisors LLC raised its stake in shares of Apple by 0.4% in the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock worth $13,772,000 after purchasing an additional 240 shares during the last quarter. Andina Capital Management LLC raised its stake in shares of Apple by 209.2% in the first quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock worth $1,507,000 after purchasing an additional 4,591 shares during the last quarter. Finally, Plum Street Advisors LLC raised its stake in shares of Apple by 4.0% in the first quarter. Plum Street Advisors LLC now owns 7,889 shares of the iPhone maker’s stock worth $1,752,000 after purchasing an additional 301 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Insider Transactions at Apple

In other news, SVP Deirdre O’brien sold 43,013 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the transaction, the senior vice president directly owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,922 shares of company stock valued at $64,320,190 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AAPL. Citigroup restated a “buy” rating on shares of Apple in a research note on Wednesday, September 10th. Evercore ISI set a $290.00 price target on Apple and gave the stock an “outperform” rating in a research note on Friday, September 26th. UBS Group restated a “neutral” rating on shares of Apple in a research note on Monday, September 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Apple in a research note on Saturday, September 27th. Finally, Seaport Res Ptn upgraded Apple to a “strong-buy” rating in a research note on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $247.49.

Apple Stock Performance

Shares of AAPL opened at $256.48 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The business has a 50-day simple moving average of $234.84 and a two-hundred day simple moving average 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 52 week low of $169.21 and a 52 week high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The business 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 business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.40 earnings per share. On average, analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

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