Apple Inc. $AAPL Shares Sold by C2C Wealth Management LLC

C2C Wealth Management LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,986 shares of the iPhone maker’s stock after selling 1,000 shares during the period. Apple comprises 7.2% of C2C Wealth Management LLC’s holdings, making the stock its 2nd largest position. C2C Wealth Management LLC’s holdings in Apple were worth $7,999,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of AAPL. First National Bank of Hutchinson lifted 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 valued at $8,845,000 after purchasing an additional 6,982 shares during the last quarter. Eagle Capital Management LLC increased its holdings in shares of Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after purchasing an additional 272 shares during the period. Brighton Jones LLC increased its stake in 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 acquiring an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in 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 acquiring an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE grew its stake in shares of Apple by 2.4% during the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after buying an additional 1,155 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AAPL shares. Evercore ISI set a $290.00 target price on shares of Apple and gave the stock an “outperform” rating in a research note on Friday, September 26th. DA Davidson restated a “neutral” rating and issued a $250.00 target price on shares of Apple in a report on Thursday, September 11th. Rosenblatt Securities lifted their price target on shares of Apple from $223.00 to $241.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. Morgan Stanley set a $298.00 price target on shares of Apple and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Finally, JPMorgan Chase & Co. upped their target price on shares of Apple from $255.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. Four 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $248.29.

Insider Activity at Apple

In other news, CFO Kevan Parekh sold 4,199 shares of Apple stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the completion of the sale, the chief financial officer directly owned 8,765 shares of the company’s stock, valued at approximately $2,168,373.35. The trade was a 32.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction 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 of the company’s stock, valued at $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. Over the last quarter, insiders sold 259,121 shares of company stock valued at $65,358,981. 0.06% of the stock is currently owned by insiders.

Apple Stock Up 2.0%

Apple stock opened at $252.29 on Friday. The firm has a 50 day moving average price of $241.13 and a 200-day moving average price of $216.86. The company has a market capitalization of $3.74 trillion, a P/E ratio of 38.28, a P/E/G ratio of 2.41 and a beta of 1.09. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. The company 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%. Apple’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period last year, the firm earned $1.40 EPS. As a group, equities analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a $0.26 dividend. 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%.

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.