Apple Inc. $AAPL Holdings Cut by Richwood Investment Advisors LLC

Richwood Investment Advisors LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,925 shares of the iPhone maker’s stock after selling 65 shares during the period. Apple accounts for about 2.0% of Richwood Investment Advisors LLC’s investment portfolio, making the stock its 8th biggest holding. Richwood Investment Advisors LLC’s holdings in Apple were worth $2,447,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Burkett Financial Services LLC grew its position in shares of Apple by 0.6% in the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock valued at $3,199,000 after purchasing an additional 93 shares during the period. Avid Wealth Partners LLC boosted its stake in shares of Apple by 28.3% in the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock worth $935,000 after acquiring an additional 930 shares during the last quarter. Bell & Brown Wealth Advisors LLC boosted its stake in shares of Apple by 0.4% in the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock worth $13,772,000 after acquiring an additional 240 shares during the last quarter. American National Bank & Trust increased its position in shares of Apple by 2.4% during the second quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock worth $40,107,000 after purchasing an additional 4,543 shares in the last quarter. Finally, Andina Capital Management LLC raised its stake in Apple by 209.2% in the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock valued at $1,507,000 after purchasing an additional 4,591 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling

In related news, CFO Kevan Parekh sold 4,199 shares of the business’s stock in a transaction on Thursday, October 16th. The stock was 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 of the company’s stock, valued at $2,168,373.35. The trade was a 32.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Deirdre O’brien sold 43,013 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the sale, the senior vice president directly owned 136,687 shares in the company, valued at $35,181,866.93. This represents a 23.94% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 259,121 shares of company stock valued at $65,358,981. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AAPL. Phillip Securities cut shares of Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 target price on the stock. in a research note on Thursday, September 11th. Jefferies Financial Group cut Apple from a “moderate sell” rating to a “strong sell” rating in a report on Monday, October 20th. Loop Capital upgraded Apple from a “hold” rating to a “buy” rating and upped their price target for the company from $226.00 to $315.00 in a research report on Monday, October 20th. Melius Research set a $290.00 price objective on Apple and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Finally, The Goldman Sachs Group set a $279.00 price objective on Apple and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.49.

Apple Stock Performance

Shares of AAPL stock opened at $269.70 on Thursday. The firm’s 50 day moving average price is $246.55 and its 200-day moving average price is $221.19. Apple Inc. has a one year low of $169.21 and a one year high of $271.41. The firm has a market cap of $4.00 trillion, a P/E ratio of 40.93, a P/E/G ratio of 2.61 and a beta of 1.09. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same period in the prior year, the firm earned $1.40 earnings per share. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, equities research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

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.