Apple Inc. $AAPL is Octavia Wealth Advisors LLC’s 5th Largest Position

Octavia Wealth Advisors LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 5.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 183,067 shares of the iPhone maker’s stock after selling 9,614 shares during the quarter. Apple accounts for 4.3% of Octavia Wealth Advisors LLC’s investment portfolio, making the stock its 5th largest position. Octavia Wealth Advisors LLC’s holdings in Apple were worth $37,560,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. 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 purchasing an additional 93 shares in the last quarter. Avid Wealth Partners LLC increased its position in shares of Apple by 28.3% during 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 in the last quarter. Bell & Brown Wealth Advisors LLC boosted its stake in Apple by 0.4% during the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock worth $13,772,000 after buying an additional 240 shares during the last quarter. Andina Capital Management LLC boosted its stake in Apple by 209.2% during the first quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock worth $1,507,000 after buying an additional 4,591 shares during the last quarter. Finally, Plum Street Advisors LLC boosted its stake in Apple by 4.0% during the first quarter. Plum Street Advisors LLC now owns 7,889 shares of the iPhone maker’s stock worth $1,752,000 after buying an additional 301 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, 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 value of $33,375,798.03. Following the transaction, the chief executive officer owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. This represents a 3.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $12,101,228.75. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 254,922 shares of company stock worth $64,320,190. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AAPL shares. Citigroup reissued a “buy” rating on shares of Apple in a research note on Wednesday, September 10th. Raymond James Financial reissued an “outperform” rating and set a $240.00 price objective (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. Morgan Stanley set a $298.00 price objective on Apple and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Rosenblatt Securities upped their price target on Apple from $223.00 to $241.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. Finally, Wedbush set a $310.00 price target on Apple and gave the company an “outperform” rating in a research note on Monday, September 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $248.29.

Apple Price Performance

Shares of NASDAQ AAPL opened at $258.06 on Thursday. The stock’s 50-day moving average is $235.82 and its two-hundred day moving average is $215.55. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a market cap of $3.83 trillion, a price-to-earnings ratio of 39.16, a price-to-earnings-growth ratio of 2.50 and a beta of 1.09.

Apple (NASDAQ:AAPL) last issued its quarterly 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 return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter in the prior year, the business earned $1.40 EPS. Apple’s revenue was up 9.6% on a year-over-year basis. Analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio is presently 15.78%.

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.