BigSur Wealth Management LLC cut its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 4.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,397 shares of the iPhone maker’s stock after selling 1,930 shares during the period. Apple makes up about 2.2% of BigSur Wealth Management LLC’s portfolio, making the stock its 9th biggest holding. BigSur Wealth Management LLC’s holdings in Apple were worth $8,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ryan Investment Management Inc. acquired a new position in Apple in the 2nd quarter valued at $31,000. ROSS JOHNSON & Associates LLC raised its holdings in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares in the last quarter. Elite Financial Inc. acquired a new position in Apple in the 1st quarter valued at $58,000. Conquis Financial LLC acquired a new position in Apple in the 4th quarter valued at $63,000. Finally, LSV Asset Management acquired a new position in Apple in the 4th quarter valued at $65,000. 67.73% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on AAPL. DA Davidson reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Apple in a report on Thursday, September 11th. CLSA raised Apple to a “strong-buy” rating in a report on Sunday. Evercore ISI set a $290.00 price target on Apple and gave the stock an “outperform” rating in a report on Friday, September 26th. Needham & Company LLC reissued a “hold” rating on shares of Apple in a report on Friday, July 25th. Finally, Seaport Res Ptn raised Apple to a “strong-buy” rating in a report on Wednesday, October 1st. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $248.29.
Apple Stock Performance
NASDAQ:AAPL opened at $258.06 on Thursday. The company has a 50 day simple moving average of $235.82 and a two-hundred day simple moving average of $215.55. 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 $3.83 trillion, a PE ratio of 39.16, a P/E/G ratio of 2.50 and a beta of 1.09. 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 – Get Free Report) last released its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS 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 business had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. During the same quarter last year, the firm posted $1.40 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. Research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.
Apple Announces Dividend
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 of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is currently 15.78%.
Insider Buying and Selling
In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 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.
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.
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