Sightline Wealth Advisors LLC Cuts Stock Holdings in Apple Inc. $AAPL

Sightline Wealth Advisors LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 19.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,834 shares of the iPhone maker’s stock after selling 947 shares during the quarter. Sightline Wealth Advisors LLC’s holdings in Apple were worth $787,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Burkett Financial Services LLC increased its position 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 acquiring an additional 93 shares during the period. Avid Wealth Partners LLC increased its holdings in 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 during the last quarter. Bell & Brown Wealth Advisors LLC increased its holdings in Apple by 0.4% in the first 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 last quarter. Andina Capital Management LLC increased its holdings in Apple by 209.2% in the first quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock valued at $1,507,000 after buying an additional 4,591 shares during the last quarter. Finally, Plum Street Advisors LLC increased its holdings in Apple by 4.0% in the first quarter. Plum Street Advisors LLC now owns 7,889 shares of the iPhone maker’s stock valued at $1,752,000 after buying an additional 301 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Shares of AAPL opened at $256.48 on Wednesday. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a market capitalization of $3.81 trillion, a price-to-earnings ratio of 38.92, a price-to-earnings-growth ratio of 2.50 and a beta of 1.09. The firm has a 50-day simple moving average of $234.84 and a 200-day simple moving average of $215.25. 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 announced 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. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter in the prior year, the firm earned $1.40 earnings per share. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced 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 was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio is 15.78%.

Analysts Set New Price Targets

AAPL has been the topic of several recent analyst reports. Raymond James Financial reissued an “outperform” rating and issued a $240.00 target price (up previously from $230.00) on shares of Apple in a report on Friday, August 1st. Weiss Ratings reissued a “hold (c+)” rating on shares of Apple in a report on Saturday, September 27th. Evercore ISI set a $290.00 target price on Apple and gave the company an “outperform” rating in a report on Friday, September 26th. BMO Capital Markets reissued a “buy” rating on shares of Apple in a report on Wednesday, August 13th. Finally, JPMorgan Chase & Co. increased their target price on Apple from $255.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Three 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $247.49.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction 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. This represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the sale, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. This trade represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 254,922 shares of company stock worth $64,320,190. Company insiders own 0.06% of the company’s stock.

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.