Oak Hill Wealth Advisors LLC Sells 425 Shares of Apple Inc. $AAPL

Oak Hill Wealth Advisors LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,844 shares of the iPhone maker’s stock after selling 425 shares during the quarter. Apple makes up about 2.5% of Oak Hill Wealth Advisors LLC’s investment portfolio, making the stock its 12th largest position. Oak Hill Wealth Advisors LLC’s holdings in Apple were worth $12,148,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. First National Bank of Hutchinson raised its position in shares of Apple by 24.6% during the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after acquiring an additional 6,982 shares during the last quarter. Eagle Capital Management LLC raised its position 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 acquiring an additional 272 shares during the last quarter. Brighton Jones LLC raised its position in shares of Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after acquiring an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC raised its position in shares of Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after acquiring an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE raised its position 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 acquiring an additional 1,155 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the sale, the senior vice president owned 179,158 shares in the company, valued at $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Deirdre O’brien sold 43,013 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $35,181,866.93. This trade represents a 23.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 259,121 shares of company stock worth $65,358,981 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Up 1.2%

AAPL stock opened at $262.82 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 stock has a market capitalization of $3.90 trillion, a P/E ratio of 39.88, a P/E/G ratio of 2.56 and a beta of 1.09. The business has a 50-day moving average of $244.15 and a 200-day moving average of $219.51. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $265.29.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. During the same period in the prior year, the firm earned $1.40 earnings per share. Apple’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on AAPL shares. DA Davidson reaffirmed a “neutral” rating and set a $250.00 price objective on shares of Apple in a research note on Thursday, September 11th. Moffett Nathanson raised Apple from a “sell” rating to a “neutral” rating and set a $225.00 price objective for the company in a research note on Thursday, September 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Apple in a research note on Friday. Morgan Stanley set a $298.00 price objective on Apple and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Finally, Tigress Financial lifted their price objective on Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 17th. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $252.47.

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.