Refined Wealth Management Sells 219 Shares of Apple Inc. $AAPL

Refined Wealth Management lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 7.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,750 shares of the iPhone maker’s stock after selling 219 shares during the period. Apple accounts for approximately 0.4% of Refined Wealth Management’s holdings, making the stock its 21st biggest position. Refined Wealth Management’s holdings in Apple were worth $564,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ryan Investment Management Inc. purchased a new stake in shares of Apple during the 2nd quarter valued at about $31,000. ROSS JOHNSON & Associates LLC raised its position in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 180 shares in the last quarter. Elite Financial Inc. purchased a new stake in shares of Apple during the 1st quarter valued at about $58,000. LSV Asset Management purchased a new stake in shares of Apple during the 4th quarter valued at about $65,000. Finally, HFM Investment Advisors LLC purchased a new stake in shares of Apple during the 1st quarter valued at about $99,000. Institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Shares of AAPL stock opened at $247.45 on Friday. 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 company has a market capitalization of $3.67 trillion, a P/E ratio of 37.55, a P/E/G ratio of 2.43 and a beta of 1.09. The company’s 50-day simple moving average is $240.67 and its two-hundred day simple moving average is $216.66. Apple Inc. has a one year low of $169.21 and a one year high of $260.10.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion for 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.40 EPS. As a group, equities analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

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

Insiders Place Their Bets

In other news, SVP Deirdre O’brien sold 43,013 shares of the 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 transaction, the senior vice president directly owned 136,687 shares in the company, 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 is accessible through this link. Also, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 254,922 shares of company stock worth $64,320,190 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the topic of several recent research reports. The Goldman Sachs Group restated a “buy” rating and set a $266.00 target price on shares of Apple in a research report on Tuesday, August 26th. Needham & Company LLC restated a “hold” rating on shares of Apple in a research report on Friday, July 25th. HSBC set a $220.00 price objective on shares of Apple and gave the stock a “hold” rating in a research report on Monday, September 8th. Jefferies Financial Group lowered shares of Apple from a “hold” rating to an “underperform” rating and reduced their price objective for the stock from $205.82 to $205.16 in a research report on Friday, October 3rd. Finally, CLSA raised shares of Apple to a “strong-buy” rating in a research report on Sunday, October 5th. Four 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $248.29.

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.