San Luis Wealth Advisors LLC Has $24.95 Million Position in Apple Inc. $AAPL

San Luis Wealth Advisors LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 4.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 121,612 shares of the iPhone maker’s stock after selling 5,021 shares during the period. Apple accounts for about 5.3% of San Luis Wealth Advisors LLC’s portfolio, making the stock its 3rd largest holding. San Luis Wealth Advisors LLC’s holdings in Apple were worth $24,951,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of AAPL. First National Bank of Hutchinson boosted its holdings in Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after purchasing an additional 6,982 shares during the period. Eagle Capital Management LLC boosted its holdings in Apple by 0.5% in the 4th 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 boosted its holdings in Apple by 14.8% in the 4th 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 boosted its holdings in Apple by 4.2% in the 4th 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 boosted its holdings in Apple by 2.4% in the 4th 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. Institutional investors own 67.73% of the company’s stock.

Insider Activity

In other 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 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 Securities & Exchange Commission, which is accessible through the SEC website. 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 254,922 shares of company stock valued at $64,320,190. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AAPL. Wedbush set a $310.00 price objective on shares of Apple and gave the company an “outperform” rating in a report on Monday, September 22nd. DA Davidson reaffirmed a “neutral” rating and set a $250.00 price target on shares of Apple in a report on Thursday, September 11th. Raymond James Financial reaffirmed an “outperform” rating and set a $240.00 price target (up previously from $230.00) on shares of Apple in a report on Friday, August 1st. Jefferies Financial Group downgraded shares of Apple from a “hold” rating to an “underperform” rating and cut their price target for the stock from $205.82 to $205.16 in a report on Friday, October 3rd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $266.00 price target on shares of Apple in a report on Tuesday, August 26th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average price target of $248.29.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $247.77 on Wednesday. The firm has a 50 day simple moving average of $239.39 and a 200 day simple moving average of $216.26. The company has a market cap of $3.68 trillion, a price-to-earnings ratio of 37.60, a PEG ratio of 2.41 and a beta of 1.09. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. 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 (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.40 earnings per share. Research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

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

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.