Apple Inc. $AAPL Shares Sold by Flywheel Private Wealth LLC

Flywheel Private Wealth LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 1.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,073 shares of the iPhone maker’s stock after selling 162 shares during the period. Apple accounts for about 1.5% of Flywheel Private Wealth LLC’s holdings, making the stock its 18th biggest holding. Flywheel Private Wealth LLC’s holdings in Apple were worth $1,862,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AAPL. First National Bank of Hutchinson raised its position in shares of Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after buying an additional 6,982 shares during the last quarter. Eagle Capital Management LLC grew its holdings in shares of Apple by 0.5% in the fourth 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 period. Brighton Jones LLC grew its holdings in shares of Apple by 14.8% in the fourth 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 period. Revolve Wealth Partners LLC grew its holdings in shares of Apple by 4.2% in the fourth 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 period. Finally, Highview Capital Management LLC DE grew its holdings in shares of Apple by 2.4% in the fourth 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 period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Up 0.0%

Shares of Apple stock opened at $247.77 on Wednesday. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company has a 50 day moving average of $239.39 and a 200 day moving average of $216.26. 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 company has a market capitalization of $3.68 trillion, a P/E ratio of 37.60, a P/E/G ratio of 2.41 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter in the previous year, the firm earned $1.40 earnings per share. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s payout ratio is currently 15.78%.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 43,013 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. This trade represents a 23.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the sale, the senior vice president directly 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. Over the last quarter, insiders have sold 254,922 shares of company stock valued at $64,320,190. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AAPL shares. Rosenblatt Securities upped their price objective on shares of Apple from $223.00 to $241.00 and gave the company a “neutral” rating in a report on Wednesday, September 10th. Seaport Res Ptn raised shares of Apple to a “strong-buy” rating in a report on Wednesday, October 1st. Bank of America upped their price objective on shares of Apple from $260.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. UBS Group reissued a “neutral” rating on shares of Apple in a report on Monday, September 8th. Finally, Morgan Stanley set a $298.00 target price on shares of Apple and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Four research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $248.29.

Apple 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.