Apple Inc. $AAPL Shares Sold by Belpointe Asset Management LLC

Belpointe Asset Management LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 20.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 250,798 shares of the iPhone maker’s stock after selling 64,110 shares during the period. Apple makes up 2.1% of Belpointe Asset Management LLC’s holdings, making the stock its 5th biggest holding. Belpointe Asset Management LLC’s holdings in Apple were worth $51,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. First National Bank of Hutchinson grew its holdings in shares of Apple by 24.6% in the fourth 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 in the last quarter. Eagle Capital Management LLC grew its holdings in shares of Apple by 0.5% in the fourth 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 grew its holdings in shares of 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 purchasing an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of 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 purchasing an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE grew its holdings in shares of Apple by 2.4% in the fourth 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. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Up 0.1%

AAPL stock opened at $269.00 on Wednesday. The company has a fifty day moving average price of $245.68 and a 200 day moving average price of $220.69. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $269.89. The company has a market cap of $3.99 trillion, a price-to-earnings ratio of 40.82, a price-to-earnings-growth ratio of 2.61 and a beta of 1.09. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. The firm 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 quarter in the prior year, the firm earned $1.40 EPS. Sell-side analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

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 $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 payout ratio is currently 15.78%.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of research reports. Jefferies Financial Group cut shares of Apple from a “moderate sell” rating to a “strong sell” rating in a report on Monday, October 20th. UBS Group reiterated a “neutral” rating on shares of Apple in a research note on Monday, September 8th. HSBC set a $220.00 price target on shares of Apple and gave the stock a “hold” rating in a research note on Monday, September 8th. Barclays lifted their price target on shares of Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research note on Friday, August 1st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research note on Friday, July 25th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $253.76.

Insider Activity

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction on 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 transaction, the senior vice president directly owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevan Parekh sold 4,199 shares of the business’s 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 transaction, the chief financial officer directly owned 8,765 shares in the company, valued at $2,168,373.35. This represents a 32.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 259,121 shares of company stock valued at $65,358,981. 0.06% of the stock is owned by corporate insiders.

About Apple

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.