Johnson & White Wealth Management LLC Sells 101 Shares of Apple Inc. $AAPL

Johnson & White Wealth Management LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,948 shares of the iPhone maker’s stock after selling 101 shares during the period. Apple makes up 2.2% of Johnson & White Wealth Management LLC’s investment portfolio, making the stock its 16th largest holding. Johnson & White Wealth Management LLC’s holdings in Apple were worth $4,298,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in AAPL. Kingstone Capital Partners Texas LLC raised its holdings in shares of Apple by 573,627.2% during the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock valued at $39,065,374,000 after purchasing an additional 205,656,808 shares during the last quarter. Nuveen LLC purchased a new position in shares of Apple during the first quarter valued at approximately $17,472,482,000. GAMMA Investing LLC raised its holdings in shares of Apple by 25,934.1% during the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock valued at $133,425,490,000 after purchasing an additional 59,835,676 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after purchasing an additional 20,079,472 shares during the last quarter. Finally, Amundi raised its holdings in shares of Apple by 27.4% during the first quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock valued at $13,870,795,000 after purchasing an additional 14,651,321 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 129,963 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the transaction, the chief executive officer directly owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. This trade represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Deirdre O’brien sold 43,013 shares of the firm’s stock in a transaction 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 transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $35,181,866.93. The trade was a 23.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 254,922 shares of company stock valued at $64,320,190. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $247.77 on Wednesday. The firm has a fifty day moving average price of $239.39 and a 200-day moving average price of $216.26. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market cap of $3.68 trillion, a PE ratio of 37.60, a price-to-earnings-growth ratio of 2.41 and a beta of 1.09. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.40 earnings per share. Equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The business 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. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s dividend payout ratio (DPR) is presently 15.78%.

Analyst Ratings Changes

Several research analysts have recently weighed in on AAPL shares. BMO Capital Markets reissued a “buy” rating on shares of Apple in a report on Wednesday, August 13th. Raymond James Financial reissued an “outperform” rating and set a $240.00 price objective (up from $230.00) on shares of Apple in a report on Friday, August 1st. HSBC set a $220.00 price objective on shares of Apple and gave the company a “hold” rating in a report on Monday, September 8th. UBS Group reaffirmed 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 company an “overweight” rating in a report on Thursday, October 2nd. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.29.

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.