Wolff Wiese Magana LLC Cuts Holdings in Apple Inc. $AAPL

Wolff Wiese Magana LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 2.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,732 shares of the iPhone maker’s stock after selling 297 shares during the period. Apple makes up about 1.9% of Wolff Wiese Magana LLC’s holdings, making the stock its 12th biggest holding. Wolff Wiese Magana LLC’s holdings in Apple were worth $3,023,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. First National Bank of Hutchinson grew its stake 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 worth $8,845,000 after buying an additional 6,982 shares in the last quarter. Eagle Capital Management LLC boosted its stake in shares of 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 in the last quarter. Brighton Jones LLC boosted its stake in shares of 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 in the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of 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 in the last quarter. Finally, Highview Capital Management LLC DE boosted its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Trading Down 0.8%

NASDAQ:AAPL opened at $247.45 on Friday. The company has a 50-day moving average price of $240.67 and a 200-day moving average price of $216.66. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The stock has a market cap of $3.67 trillion, a price-to-earnings ratio of 37.55, a P/E/G ratio of 2.43 and a beta of 1.09.

Apple (NASDAQ:AAPL) last posted 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 net margin of 24.30% and a return on equity of 170.91%. The firm had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. During the same period last year, the company posted $1.40 EPS. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. Equities analysts predict 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. Stockholders of record on Monday, August 11th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s dividend payout ratio (DPR) is currently 15.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AAPL shares. Phillip Securities cut shares of Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price objective for the company. in a research note on Thursday, September 11th. Melius Research set a $290.00 price objective on shares of Apple and gave the company a “buy” rating in a research note on Wednesday, September 10th. Evercore ISI set a $290.00 price objective on shares of Apple and gave the company an “outperform” rating in a research note on Friday, September 26th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $266.00 price objective on shares of Apple in a research note on Tuesday, August 26th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Apple in a research note on Monday, September 8th. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $248.29.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the sale, the senior vice president directly owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction dated Thursday, October 2nd. The stock was 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. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 254,922 shares of company stock valued at $64,320,190. Company insiders own 0.06% of the company’s stock.

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.