Apple Inc. $AAPL Shares Sold by Glass Wealth Management Co LLC

Glass Wealth Management Co LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 4.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,959 shares of the iPhone maker’s stock after selling 1,872 shares during the period. Apple accounts for about 4.9% of Glass Wealth Management Co LLC’s investment portfolio, making the stock its 3rd biggest holding. Glass Wealth Management Co LLC’s holdings in Apple were worth $9,224,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ryan Investment Management Inc. acquired a new position in Apple during the 2nd quarter worth $31,000. ROSS JOHNSON & Associates LLC lifted its position in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares during the last quarter. Elite Financial Inc. acquired a new position in Apple during the 1st quarter worth $58,000. LSV Asset Management acquired a new position in Apple during the 4th quarter worth $65,000. Finally, HFM Investment Advisors LLC acquired a new position in Apple during the 1st quarter worth $99,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research report on Friday, July 25th. Citigroup reaffirmed a “buy” rating on shares of Apple in a research report on Wednesday, September 10th. Melius Research set a $290.00 price objective on shares of Apple and gave the company a “buy” rating in a research report on Wednesday, September 10th. Tigress Financial upped their price objective on shares of Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 17th. Finally, Monness Crespi & Hardt upped their price objective on shares of Apple from $245.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $252.83.

Apple Stock Performance

NASDAQ AAPL opened at $268.81 on Tuesday. The stock has a market cap of $3.99 trillion, a P/E ratio of 40.79, a PEG ratio of 2.56 and a beta of 1.09. The company’s 50-day simple moving average is $244.91 and its 200 day simple moving average is $220.14. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $269.12. 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 issued 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. The firm had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.40 earnings per share. As a group, research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid a dividend of $0.26 per share. 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 is currently 15.78%.

Insider Activity

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the company’s stock in a transaction dated 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 sale, the senior vice president directly owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 129,963 shares of the company’s 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 sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at $842,412,558.95. This represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 259,121 shares of company stock valued at $65,358,981 over the last three months. 0.06% of the stock is owned by corporate insiders.

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.