Schrum Private Wealth Management LLC Cuts Stock Holdings in Apple Inc. $AAPL

Schrum Private Wealth Management LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 1.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,950 shares of the iPhone maker’s stock after selling 351 shares during the quarter. Apple makes up 3.9% of Schrum Private Wealth Management LLC’s holdings, making the stock its 3rd largest holding. Schrum Private Wealth Management LLC’s holdings in Apple were worth $4,914,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Avid Wealth Partners LLC lifted its stake in shares of Apple by 28.3% during the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock worth $935,000 after purchasing an additional 930 shares during the last quarter. Bell & Brown Wealth Advisors LLC raised its position in Apple by 0.4% during the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock valued at $13,772,000 after acquiring an additional 240 shares in the last quarter. American National Bank & Trust grew its holdings in Apple by 2.4% in the second quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock valued at $40,107,000 after purchasing an additional 4,543 shares during the period. Andina Capital Management LLC boosted its stake in shares of Apple by 209.2% in the first quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock worth $1,507,000 after acquiring an additional 4,591 shares during the last quarter. Finally, Plum Street Advisors LLC boosted its stake in shares of Apple by 4.0% in the first quarter. Plum Street Advisors LLC now owns 7,889 shares of the iPhone maker’s stock worth $1,752,000 after acquiring an additional 301 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

AAPL has been the topic of several recent analyst reports. Wells Fargo & Company set a $300.00 price target on Apple and gave the company an “overweight” rating in a research note on Friday. Seaport Res Ptn raised Apple to a “strong-buy” rating in a report on Wednesday, October 1st. Wall Street Zen upgraded Apple from a “hold” rating to a “buy” rating in a research report on Saturday. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $290.00 price target on shares of Apple in a research report on Wednesday. Finally, Wedbush restated an “outperform” rating on shares of Apple in a report on Tuesday, October 21st. Three research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $276.39.

Apple Price Performance

AAPL stock opened at $270.37 on Monday. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $277.32. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $4.01 trillion, a PE ratio of 41.03, a P/E/G ratio of 2.62 and a beta of 1.09. The stock’s 50 day moving average is $248.34 and its two-hundred day moving average is $222.34.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $102.47 billion during the quarter, compared to the consensus estimate of $101.65 billion. During the same period in the previous year, the business earned $1.64 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. Analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Monday, November 10th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, November 10th. Apple’s dividend payout ratio (DPR) is presently 13.92%.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O’brien sold 43,013 shares of the firm’s 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 transaction, the senior vice president directly 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 transaction 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 firm’s stock in a transaction dated 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 owned 8,765 shares in the company, valued at approximately $2,168,373.35. The trade was a 32.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 259,121 shares of company stock valued at $65,358,981. Corporate insiders own 0.06% of the company’s stock.

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.